Michael Abramoff lands $33 million venture capital support on artificial intelligence tool used to detect diabetic retinopathy

After the U.S. Food and Drug Administration granted IDx permission to market the new tool in April, the University of Iowa Hospitals and Clinics became the first to put the artificial intelligence tool to use.

IDx was founded by Michael Abramoff and is intended for use to automatically detect more than mild diabetic retinopathy in adults of 22 years of age or older. It is the first and only FDA approved artificial intelligence system for the autonomous detection of diabetic retinopathy.

After months of discussing investment options with 54 investment banks from coast to coast, Abramoff announced that IDx has secured $33 million in financing from four different investment firms.

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