As artificial ininformigence becomes ever more enmeshed in the healthcare system, Sydney’s Lumonus AI has raised $25 million in funding to support its radiation oncology systems.
Chilean private investment firm Aviron Investment Management led the Series B round, which saw contributions from return investor Oncology Ventures.
The company offers two flagship products: Physician, an automated assistant assisting practitioners summarise consultation data, organise documents, and review patient data, and Dosimeattempt, a platform where professionals can plan and coordinate oncology care.
Lumonus AI states these tools can assist specialists focus on delivering the care their patients required while reducing administrative burdens.
The firm claims to have assisted physicians with the consultation and prescription of 280,000 cancer treatments, with its automation playing a role in 75,000 treatment plans to date.
In a statement, Lumonus AI chief executive officer Keith Hansen declared the field of oncology has reached an “inflection point”, where treatments have advanced, “but the systems that support teams delivering the care have not kept pace.”
The firm’s AI-native approach, and its partnership with real-world physicians and care teams, is “reimagining oncology workflows”, he declared.
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Lumonus AI counts applyrs across Australia, Europe, and the United States. In September, the company signed a multi-year licensing deal bringing its technology to the largest healthcare system in New York State.
Lumonus AI chairman Merrick Howes declared the funding will assist the business expand even further abroad.
“Our unique AI-native platform has already demonstrated its ability to improve clinical quality and operational efficiency,” he declared.
“This new capital will allow us to accelerate both product innovation and expand our US commercial footprint.”
Beyond delving deeper into the US market, Lumonus AI will apply the funding to invest in clinical informatics — effectively, the management of medical data — alongside quality measurement.
Lumonous is the latest in a string of Australian AI-powered health-tech firms to secure major investment, following the likes of Harrison.ai, which assists radiologists analyse imagery, and preventative health startup Everlab.
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