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Flywheel acquires Radiologics with part of $22 million raised in Series C funding

September 17, 2021
Artificial Intelligence Business Affairs Health IT
Flywheel has acquired Radiologics
Biomedical research platform Flywheel has acquired Radiologics to create the only global network for biomedical research and partnerships.

Combining their individual imaging research data management and analytical capabilities, the two will use their research platform to help organizations in academia, life sciences, clinical and medical AI fields connect with one another and share information. The goal is to help them push R&D faster in oncology, radiology and other therapeutic specialties.

"Biomedical researchers need a modern infrastructure to access and curate large volumes of imaging and associated data and manage complex AI workflows, all while maintaining data quality, privacy and compliance. Flywheel offers a comprehensive data management platform with all of the tools and research workflows in place to accelerate collaboration, enable machine learning, and streamline the massive task of data aggregation, curation and management," Flywheel CEO Jim Olson told HCB News.

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Part of the funding for the acquisition came from $22 million it raised in a Series C funding round led by 8VC, a company that aims to create technology platforms that stimulate long-term economic value for the good of society. It has raised a total of $55M to date, says Olson.

The deal, he says, is expected to allow for small labs and providers to collaborate with and share data with large academic medical centers and commercial enterprises on a secure platform. No such solution exists today for research across the broader biomedical community. "We can provide a single platform for this diverse group of users to opt-in to share project information across sites regardless of the scale of their project or instance. We envision this as a great way to securely discover data across a global research network and identify potential collaborators for projects."

Using Flywheel's platform, researchers are able to collaborate and utilize machine learning in their work to streamline data aggregation, curation and management. They can build on these collaborations, as well as scale research data and analysis and accelerate discoveries with the platform's cloud scalability and automating research workflows.

With Radiologics, Flywheel will now be able to provide customers with cross-platform data and algorithm interoperability; a larger network with more opportunities to engage in research collaborations; an accelerated roadmap of new features; access to opted-in innovators all over the world for secure and compliant data research; and computational workflows for research and clinical purposes that are on-premise and can be enhanced with the cloud.

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