MDAI

Spectral AI's Subsidiary Awarded BARDA Contract Valued At $149 Mln

(RTTNews) - Spectral AI, Inc. (MDAI) on Thursday announced that its subsidiary, Spectral MD received a contract worth up to $149 million from the Biomedical Advanced Research and Development Authority (BARDA), a division of the ASPR within the U.S. Department of Health and Human Services for the development of their AI-powered DeepView System for imaging burn wounds.

The multi-year contract includes an initial award of nearly $55 million to support the clinical validation and FDA clearance of DeepView for commercial marketing and distribution purposes and will allow up to 30 DeepView devices to be placed at various burn centers and emergencies.

The DeepView System integrates proprietary imaging technology and AI-enabled algorithms to see deep below the surface of the skin and differentiate between healthy and damaged tissue.

This technology will be utilized in emergency departments, trauma centers, and burn centers for routine burn care as well as a medical countermeasure in the event of burn mass casualty incidents (BMCI).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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