Spectral AI, Inc. (NASDAQ: MDAI), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that it has received a new award of over $850,000 from the Medical Technology Enterprise Consortium (“MTEC”). This award will support the ongoing development of DeepView SnapShot M®, Spectral AI’s handheld predictive burn wound healing device targeted for use in battlefield assessment that is based on the Company’s AI-driven DeepView™ System platform.
The MTEC is a 501(c)(3) biomedical consortium collaborating with the U.S. Army Medical Materiel Development Activity (USAMMDA).
Inclusive of this additional award funding, total non-dilutive government funding for DeepView SnapShot M® has exceeded $7.0 million.
DeepView SnapShot M® is designed to be an integral part of the triage process by providing a quick and accurate wound assessment so that those with more severe burn injuries can be prioritized for evacuation. The development of this handheld device closely aligns with MTEC’s mission of facilitating prototype advancement of technologies that protect, treat, and optimize the health and performance of U.S. military service personnel.
“We are developing DeepView SnapShot M® to address the critical need to deliver portable, rapid, informed, and potentially lifesaving diagnoses in combat zones and military hospitals,” said CEO Peter M. Carlson. “The development of this device reflects the platform nature of our DeepView™ System, its robust architecture, and a broad range of potential applications across diverse environments.”
MDAI shares acquired 1.94 cents, or 1.4%, to $1.4294.