Spectral AI receives $31.7M in funding from BARDA for DeepView System

Spectral AI (MDAI) announced that it has received $31.7M in funding from the Biomedical Advanced Research and Development Authority, or BARDA, to accelerate and support additional feature aspects for the company’s DeepView System, its AI-driven burn wound imaging technology. As part of the ongoing partnership, Spectral AI has committed to provide an additional $9.7M to the total overall development costs associated with these feature advancements. This immediate, non-dilutive funding is being advanced in addition to the $54.9M of funding committed to date as part of the company’s current contract with BARDA valued up to $150M, as the company awaits a determination on market authorization from the FDA for the DeepView System.