Olympus Innovation Ventures invests in endoscopy diagnostics company

Olympus Innovation Ventures, Center Valley-based Olympus’ venture capital fund, made its first investment in a Carlsbad, California company Wednesday. 

Olympus said it invested in the Series A financing of Virgo Surgical Video Solutions for AI research. 

 The Olympus corporate venture capital fund makes investments in emerging digital, device, and diagnostic companies in minimally invasive detection and treatment of disease in gastroenterology, urology, respiratory care and other clinical areas. 

 “The pace of innovation in endoscopy is accelerating rapidly, with companies like Virgo contributing to advancements in artificial intelligence and machine learning that are designed to assist physicians in delivering optimal patient care,” said Townsend Goddard, senior vice president, global head, business development of Olympus.  “As a global leader in medical technology, Olympus is focused on startups, like Virgo, with innovative technologies to improve clinical outcomes, reduce healthcare costs and enhance the quality of life for patients.” 

Gastroenterologists use the Virgo platform powered by AI, in part to record endoscopic procedures without interrupting clinical workflows. Virgo also leverages endoscopy video data and AI to identify patient candidates for inflammatory bowel disease clinical trials. 

“Virgo is excited to have the support of Olympus, whose expertise in endoscopy makes this investment a natural fit,” said Matt Schwartz, Virgo co-founder, and CEO. 

He said the company will use the investment to develop automation and AI tools to help improve patient outcomes and clinical workflows for endoscopy. 

“Olympus, aiming to be a partner of choice for innovators, will continue to help its portfolio companies succeed,” said Nacho Abia, COO of Olympus. “We will do this by contributing clinical and technical expertise, along with insights on strategies for launching and scaling innovative solutions in the global market.”