Imidex, a Denver-based leader in artificial intelligence for healthcare, today announced the sale of its FDA-cleared AI algorithm, VisiRad® XR, along with its associated intellectual property and annotated dataset. Financial terms of the transaction and the purchaser's identity were not disclosed.
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Imidex developed one of the only FDA-cleared AI solutions capable of both incidental and broad population screening of lung nodules and masses using routine chest X-rays, offering a cost-effective alternative to traditional CT scans. This could prove to be highly valuable to healthcare payors and providers, as well as life science companies developing immunotherapies. In addition to lung nodules and masses, Imidex developed one of the best curated and annotated datasets from chest X-rays with the potential to drive additional clearances from the FDA in the future.
Co-Founders Richard Vlasimsky and Kris Zeschin were at the forefront of developing the AI-powered algorithm to help improve patient outcomes in the fight against lung cancer. Kris led the company's effort for VisiRad® XR to receive FDA 510(k) clearance in August 2023. The product was designed to help radiologists detect lung nodules as small as 6mm, and demonstrated high sensitivity in identifying potential early signs of lung cancer, helping to close critical gaps in detection from routine imaging.
“We believe this sale will accelerate access to our AI-powered detection tools that can play a pivotal role in identifying lung cancer at an earlier, more treatable stage,” said Richard Vlasimsky, Co-Founder of Imidex. “The future of cancer diagnosis is moving toward proactive, affordable, and widespread screening, and VisiRad XR is well-positioned to support that vision.”
The sale of Imidex's technology reflects the exceptional dedication of its team, clinicians, and key opinion leaders who collaborated to bring this innovation to market. Imidex also benefited from the support of visionary investors, including Echelon and dozens of esteemed private investors, whose industry expertise and board leadership helped guide the company from early development through regulatory clearance and now strategic acquisition.
Keith Hearon, Chairman of the Board at Imidex, praised the executive management team's accomplishments: “We hope that the sale of Imidex's AI technology and datasets will accelerate commercial availability and enhance patient outcomes by bringing transformative AI-driven screening directly into clinical practice. We brought in Wes Bolsen as CEO less than a year ago to lead the company's commercialization and its strategic direction, and we are incredibly proud of what Wes and his team accomplished.”
About Imidex, Inc.Imidex, Inc. is a Denver-based innovator in AI-driven medical technologies aimed at revolutionizing early lung cancer detection. Their flagship product, VisiRad® XR, is an FDA 510(k)-cleared software that assists radiologists in identifying potential lung nodules and masses in chest X-rays. Learn more at: https://www.linkedin.com/company/imidex/
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