CorTechs Labs Secures Series B Investment Led By Genting Berhad Funding to accelerate product development and fuel growth of sales and marketing
SAN DIEGO, March 18, 2014 /PRNewswire/ -- Medical software developer CorTechs Labs, Inc. (CorTechs) is pleased to announce it has secured new Series B financing to support the company's rapid growth. The round was led by Genting Berhad via its indirect wholly-owned subsidiary, Dragasac Limited, a company incorporated in the Isle of Man.
This round of funding will accelerate the development of CorTechs' industry-changing image analysis software and expand its sales and marketing initiatives.
CorTechs is known as the developer of NeuroQuant®, the leading software solution for the quantification of volumetric brain atrophy to help diagnose a variety of brain disorders. As the only FDA approved solution that automatically quantifies the volumes of brain structures, NeuroQuant® is already used by hundreds of neurologists, radiologists and clinical researchers. To date, NeuroQuant® has been used to scan and analyze over 40,000 brain MRI scans around the world.
"We developed NeuroQuant® knowing that all aspects of healthcare are becoming more objective and measurement driven. CorTechs is an innovator in the area of software solutions for brain diagnostics in clinical practices. Our objective is to provide superior quantitative measurements to physicians working in all areas of cognitive impairment and neurodegenerative disorders," said Guri Stark, CEO of CorTechs.
"Genting believes there is an untapped market opportunity for CorTechs' products in the field of clinical practices. We are pleased to support CorTechs' initiatives to provide the much needed quantitative brain volumetric information to physicians and radiologists," said Derrik Khoo, a representative of Dragasac Limited.
To learn more about CorTechs and NeuroQuant®, please visit www.cortechslabs.com.
About CorTechs Labs, Inc.
CorTechs develops and markets cutting-edge brain imaging solutions used by neurologists and radiologists in hundreds of clinics and research centers around the world. CorTechs' flagship product, NeuroQuant®, is a breakthrough, 510(k) cleared medical device that makes quantitative analysis of MRI images of the human brain a routine part of clinical practice. As the only FDA cleared medical device capable of automatically detecting and quantifying atrophy in the human brain, NeuroQuant® brings sophisticated, accurate, and fully automated MRI post-processing capabilities to the physician's desktop or mobile device. This provides neurologists, radiologists, and clinical researchers with a convenient and cost-effective means to quantify atrophy of brain structures to help diagnose a variety of brain disorders, including conditions such as Alzheimer's disease, epilepsy and traumatic brain injury.
About Genting Berhad
Genting Berhad is the holding company of the Genting Group and is one of Asia's best managed multinationals. Genting Berhad and its subsidiaries, Genting Malaysia Berhad, Genting Plantations Berhad and Genting Singapore PLC, are listed entities with a combined market capitalization of about US$34 billion as at 4 March 2014.
With about 55,000 employees, 4,500 hectares of prime resort land and 228,000 hectares of plantation land, the Genting Group's principal businesses include leisure & hospitality, power generation, oil palm plantations, property development, biotechnology and oil & gas.
The leisure & hospitality business operates using various brand names including "Resorts World," "Maxims" and "Crockfords." In addition to Premium Outlets, Genting Group companies have tie ups with Universal Studios, Hard Rock Hotel, Twentieth Century Fox and other renowned international brand partners.
SOURCE CorTechs Labs, Inc.