Siemens Venture Capital invests in BioImagene, validating the Digital Pathology Space
Cupertino, Thursday, October 16, 2008
BioImagene, a leading
provider of innovative and scalable digital pathology solutions
announced that Siemens Venture Capital (SVC) has joined as
a new investor in the company. This announcement follows
the recent closing of a $26 million series D financing round
led
by Burrill & Company and the appointment of Dr
Ajit Singh from the Image and Knowledge Group of Siemens Healthcare as CEO
of BioImagene.
BioImagene will use the investment to scale operations to
extend their dominant position in digital pathology. The
company intends to accelerate the adoption of digital pathology
with continued product development and rapid expansion in
the European and Asian markets.
Mr. G. Steven
Burrill, Chairman, BioImagene said “We are extremely
pleased that Siemens Venture Capital has chosen to invest
in BioImagene. Their extensive experience in oncology and
radiology will help shape and expand the digital pathology
industry.”
“We invest in BioImagene because they truly understand
workflows and have built a robust enterprise wide solution
for pathologists” commented Mr.
Anupendra Sharma, Investment Partner, SVC. “I am
also very excited about the top management team because Dr.
Singh, the incoming CEO from Siemens is going to complement
the skills of Mohan Uttarwar, Founder of BioImagene, who
will be the new Chief Strategy Officer for the company.”
BioImagene provides comprehensive digital pathology solutions
for acquiring, viewing, managing, analyzing, reporting and
sharing images in the pathology laboratory. The company’s
innovative tools have improved productivity, quality of results
and simultaneously lowered the cost of entry into digital
pathology. Investors in BioImagene include Ascension
Health Ventures, Artiman Ventures, Burrill and Co, ICCP Venture
Partners and National Healthcare Services.
About BioImagene
BioImagene is a leading provider of total digital pathology
solutions for applications including clinical diagnostics
and drug discovery. BioImagene products are FDA -cleared
for specific clinical applications, and are intended for
research use for other applications.
www.bioimagene.com.
Media contact: Suchi Parth 408 207 4285
About Siemens
Venture Capital :
Siemens Venture Capital (SVC) is the corporate venture
organization for Siemens AG, one of the largest global electronics
and engineering companies. SVC's goal is to identify and
fund investments in emerging and innovative technologies
that will enhance the core business scope of Siemens, particularly
in the sectors Energy, Industry and Healthcare. To date,
we have invested over 800 million Euros in more than 100
startup companies and 30 venture capital funds. SVC is located
in Germany (Munich), in the U.S. (Palo Alto, CA and Boston,
MA), in China (Beijing), in India (Mumbai), and is active
through Siemens´ regional unit in Israel. SVC is part
of Siemens Financial Services. More information: www.siemensventurecapital.com
About Siemens
Financial Services
Siemens Financial Services (SFS) is an international provider
of financial solutions in the business-to-business area.
With about 1,900 employees and an international network of
financial companies coordinated by Siemens Financial Services
GmbH, Munich, we support Siemens as well as non-affiliated
companies, focusing on the three sectors of energy, industry
and healthcare. We finance infrastructure, equipment and
working capital and act as a competent manager of financial
risks within Siemens. By leveraging our financing expertise
and our industrial know-how we create value for our customers
and help them strengthen their competitiveness. For more
information see: www.siemens.com/finance.
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