April 29, 2019, PARIS – KEEN EYE, a company that designs, develops and markets machine learning solutions for the research and biomedical sectors, announces today that it has finalized a EUR 6 million fundraising led by CM-CIC Innovation and with the Quadrivium 1 Seeding Fund, managed by Seventure Partners, its historical partner. This investment was made in line with the company’s development plan, bringing the total funding to EUR 7.5 million since inception.
High-resolution imaging of a histological section of colon (left image). A visual examination of this section allows to evaluate the stage of progression of the immune response to the presence of tumor cells. The solutions developed by KEEN EYE facilitate this examination, particularly by locating high-value predictive signals, yet extremely difficult to detect by eye (right image).
These funds will enable the international commercial deployment of KEEN EYE’s biomedical image analysis platform, which is part of a growing market, boosted in particular by recent advances made in machine learning. KEEN EYE’s flagship technology offers the ability to identify visual cues that are difficult for experts to recognize, which have significant predictive value for qualifying the effects of disease, treatment outcome, or validating biomarker designs.
For Sylvain Berlemont, Founder and CEO of KEEN EYE, « We are very happy to have raised these funds from specialist health tech investors. We will be able to commercialize our collaborative platform in Europe and the United States in the best conditions and fully demonstrate its potential in the laboratories ».
Karine Lignel, CEO of CM-CIC Innovation comments: « We are very pleased to support KEEN EYE, which has breakthrough technology to play a major role in personalized precision medicine. In the future, biomedical imaging will have to solve complex problems by analyzing and interpreting plethoric data volumes for which existing analysis tools are obsolete. KEEN EYE must allow a gain of efficiency and sensitivity ».
Philippe Tramoy, Investment Director of the Quadrivium 1 Seed Fund at Seventure Partners, states « We are very pleased to strengthen our stake in KEEN EYE, whose highly innovative technology is part of the ongoing revolution in digital pathology. The collaborative platform of KEEN EYE allows to generate efficient work organizations and new business models, creating value for its users ».
About CM-CIC Innovation
CM-CIC Innovation is the subsidiary specializing in venture capital investments of CM-CIC Investissement (€ 3.0 billion in capital), a member of Crédit Mutuel Alliance Fédérale. Its goal is to invest in companies developing promising technologies. CM-CIC Innovation selects companies with strong growth potential in dynamic sectors such as information technology, telecommunications, electronics, life sciences, new materials and environment. For more than 15 years, CM-CIC Innovation has invested – and often reinvests – its own capital to support innovative companies to their market. CM-CIC Innovation policy is to provide long-term capital support to innovative startups to streamline their chances of success.
More information, www.cmcic-investissement.com
About Seventure Partners
As an active partner of innovative companies with strong growth potential, Seventure Partners has been investing since 1997 in two main areas of activity: Digital Technologies, and in particular fintech and insurance tech, in France, Germany and Luxembourg, and Life Sciences. throughout Europe as well as in Asia, Israel and North America. With € 750 million in assets under management and advised* at December 31th, 2018, Seventure Partners is one of the leading European players in venture capital. Seventure Partners supports the development of companies from the first round and even the seed, up to rounds of capital financing technology development with tickets from 500 K € to 10 M € per round of financing, and up to 20 M € by company.
* Committed net amounts
More information, www.seventure.fr / Twitter @SeventureP
About Quadrivium 1 Seed Fund
The Quadrivium 1 Seed Fund is one of the venture funds managed by Seventure Partners. This fund finances French companies in the seed round (FNA – Future Investment Program) in the areas of Life Sciences & Digital Technologies, which are related to or linked to the academic cluster federated around the UPMC, Paris II University, Paris IV University, National Museum of Natural History, IRCAM, ENSCI, Technological University of Compiègne, CNRS, Institut Curie, Pierre Gilles de Gennes Foundation, Voir et Entendre Foundation and Paris Sciences et Lettres (PSL).
About KEEN EYE
KEEN EYE is a health tech company, building machine learning technology for translational and clinical research, with a particular focus and a ‘keen expertise’ on imaging data. Thanks to its technology, KEEN EYE allows doctors and biologists to reproduce and extend their visual expertise, notably by identifying signals with high predictive value that are yet difficult to detect. They save valuable time in day-to-day decision-making, whether it is to diagnose, screen disease, or evaluate the effectiveness of a drug, in a more precise and standardized way.KEEN EYE’s clients and partners are CROs, biotech / pharma, hospitals and life science device manufacturers. KEEN EYE is surrounded by the best profiles in data science, software and biomedical engineering. It is supported by a solid strategic and medical advisory board made up of experts from top international research centers (Harvard Medical School, Institut Gustave Roussy, …) and industry veterans (Sanofi, GE Healthcare, …). Everyone shares a common goal: to have a positive impact on the lives of patients by putting new technological innovations at the service of their health.