Computer-aided detection (CAD) firm Medipattern of Toronto has closed a $1.8 million Canadian ($1.7 million U.S.) convertible note of financing.
Proceeds from the offering will be used for the continued North American rollout of the company's B-CAD-For-Life software service, and to fund the final development and approval of the firm's Vascular iQ software.
Vascular iQ is a detection, analysis, and data collection software tool that Medipattern is creating in partnership with GE Healthcare of Chalfont St. Giles, U.K., for the global vascular market.
Remaining funds will be used for general corporate purposes.
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