Acuitas Medical, a technology company based in Swansea, has raised more than £1m from investors including Altima Partners and Finance Wales.
The cash will be used to show the effectiveness of Acuitas' FineSA technique, which analyses magnetic resonance imaging (MRI) data. It will initially concentrate on signs of liver, lung, brain and bone diseases.
Acuitas chief executive Peter Taylor said all of the company's previous investors have backed the company again to complete an oversubscribed funding round.
Research using FineSA software shows it might provide early diagnosis of liver fibrosis and osteoporosis.
Taylor said: "We are working on clinical validation with some of the finest groups in the world, bringing the company to the point where we can now realistically see our proprietary technology in daily clinical use as a game-changing radiology decision support tool."
Chairman Sir Michael Brady said: "The continued support of the existing shareholders, and the recruitment of new ones, especially in the currently difficult financial climate, illustrates the strength of the Acuitas Medical proposition and the promise of a novel diagnostic tool to augment existing MRI examinations."
Tuesday, 24 January, 2012.
