HistoIndex Receives SGD9 Million Funding to Fuel Expansion and Innovation in Digital Pathology

HistoIndex Secures SGD9 Million Investment for Expansion

HistoIndex, a trailblazer in digital pathology, known for its innovative Second Harmonic Generation (SHG) technology, has successfully closed a SGD 9 million investment round. The round was led by OCBC, one of Singapore's premier financial institutions, which marks its first investment in the medical technology sector. Existing investors ZIG Ventures and SEEDS Capital also contributed to this strategic funding.

This pivotal investment aims to bolster HistoIndex's growth as it focuses on expanding its laboratory operations in the United States and enhancing its AI-powered digital pathology solutions for Metabolic Dysfunction-Associated Steatohepatitis (MASH), a liver disease that is increasingly gaining attention in clinical settings.

Daniel Kwan, Global Head of the Mezzanine Capital Unit at OCBC, expressed enthusiasm for HistoIndex’s potential: "The company's cutting-edge technology is revolutionizing the diagnostic landscape for liver diseases by integrating advanced AI solutions, fostering precise patient care. We are thrilled to back this local MedTech innovator in its journey towards international expansion."

The rise of MASH has generated a greater demand for reliable clinical testing, particularly in assessing liver biopsies. The investment will primarily focus on two key areas: scaling the reach of HistoIndex-partnered laboratories across the U.S. and launching next-generation diagnostic tests tailored for MASH patients.

Central to HistoIndex's innovative offerings is its newly launched Laboratory Developed Test (LDT), FibroSIGHT™. This cutting-edge test enables clinicians to accurately evaluate liver fibrosis, a critical component in managing liver diseases. FibroSIGHT™ represents the first of several new diagnostic tools that HistoIndex plans to introduce, demonstrating the firm's dedication to enhancing personalized medicine for individuals suffering from MASH. By merging clinical research with real-world applications, HistoIndex aims to significantly improve patient outcomes on a global scale.

Dr. Gideon Ho, CEO of HistoIndex, emphasized the strategic importance of this investment in accelerating the adoption of advanced diagnostic technologies while propelling company growth in the U.S. market. "This funding is crucial for positioning HistoIndex at the forefront of innovation in liver disease diagnostics and treatments, paving the way for transformative advancements in healthcare."

Understanding MASH

MASH is a condition arising from metabolic dysfunction, presenting similar symptoms to non-alcoholic fatty liver disease (NAFLD). However, it is distinguished by the presence of inflamed and ballooned hepatocytes, which complicates diagnosis and management. Traditional assessment methods often rely on subjective scoring systems that may not accurately reflect the disease's complexity. Hence, the demand for precise and reliable diagnostic solutions, like those offered by HistoIndex, is paramount.

Pathologists continue to utilize liver biopsies as the gold standard for diagnosing and gauging the progression of MASH. Nevertheless, the limitations of histological scoring systems underscore the necessity for more sophisticated tools that can leverage AI technology to enhance treatment monitoring and disease severity assessment.

About HistoIndex

Established in 2010, HistoIndex is dedicated to advancing healthcare through innovation in medical imaging and diagnostics. By combining state-of-the-art biophotonic technology with artificial intelligence, HistoIndex provides tools that facilitate more precise assessments of tissue fibrosis and drug efficacy, transforming clinical and pharmaceutical practices worldwide. Their solutions are designed to expedite drug development, advance clinical research, and ultimately improve healthcare standards for patients across various conditions.

As HistoIndex embarks on this new chapter, the collaboration between technology and healthcare is poised to redefine the landscape of liver disease diagnosis and treatment, showcasing the company's commitment to delivering cutting-edge solutions for the future of medicine.