Singapore-based medical technology company HistoIndex has secured SGD9 million (approximately USD6.7 million) in investment funding to drive its expansion plans, particularly in the United States. The funding round was led by OCBC, Singapore's longest established bank, marking its first investment in a healthcare technology company, with continued support from existing shareholders ZIG Ventures and SEEDS Capital.
The investment will primarily support HistoIndex's expansion of partnered laboratories and operations within the US market, while accelerating the development of next-generation AI-powered digital pathology tests for patients with Metabolic Dysfunction-Associated Steatohepatitis (MASH).
Pioneering Technology for Liver Disease Management
HistoIndex has established itself as a leader in the application of biophotonic Second Harmonic Generation (SHG) technology and Artificial Intelligence (AI) digital pathology for fibrotic disease management. The company's innovative approach addresses significant challenges in the diagnosis and treatment of liver diseases, particularly MASH.
Daniel Kwan, Global Head of the Mezzanine Capital Unit at OCBC, emphasized the transformative potential of HistoIndex's technology: "HistoIndex's groundbreaking technology has revolutionized liver disease diagnostics through cutting-edge AI innovations, and has the potential to enhance global healthcare by enabling precise and personalized patient care. We are proud to support this homegrown MedTech company with its growth plans and international ambitions."
US Market Expansion and FibroSIGHT™ Launch
As part of its strategic growth initiatives, HistoIndex has recently launched FibroSIGHT™, its first Laboratory Developed Test (LDT) now available for order in the United States. The test is specifically designed to provide clinicians with accurate and consistent liver fibrosis assessment, addressing a critical need in MASH diagnosis and treatment monitoring.
Dr. Gideon Ho, Chief Executive Officer of HistoIndex, highlighted the strategic importance of the investment: "This investment plays an enabling role in positioning the company for strategic expansion within the US, while accelerating the adoption of advanced digital pathology solutions poised to transform MASH diagnosis and treatments."
Addressing the MASH Challenge
MASH represents a significant and growing healthcare challenge globally. As a progressive form of Metabolic dysfunction-associated steatotic liver disease (MASLD), it is characterized by steatosis (fat accumulation) and inflammation in the liver, which can progress to fibrosis, cirrhosis, liver failure, and increased risk of liver cancer.
Current diagnostic methods for MASH rely heavily on liver biopsies assessed by pathologists, which remain the gold standard for diagnosis and severity assessment. However, traditional histological categorical scoring systems used as surrogate endpoints in clinical trials have limitations in capturing the complex and heterogeneous nature of the disease.
HistoIndex's AI-based digital pathology solutions aim to overcome these limitations by providing more accurate, reliable, and objective tools for assessing treatment response and disease severity in MASH patients.
Advancing Precision Medicine
Founded in 2010, HistoIndex has pioneered stain-free, fully automated imaging solutions for visualizing and quantifying fibrosis in biological tissues. By integrating research from pivotal clinical trials with clinical practice, the company is advancing precision medicine with the aim of improving patient outcomes worldwide.
The company's approach combines cutting-edge biophotonic technology with AI-based analysis to provide innovative tools that improve the assessment of fibrosis changes and drug efficacy. These digital pathology solutions are currently being used to accelerate clinical research, expedite pharmaceutical drug development, and transform medical standards in liver disease management.
With the new funding, HistoIndex is well-positioned to expand its impact in the field of liver disease diagnostics and treatment, particularly as the prevalence of metabolic liver diseases continues to rise globally.
