Ibex Medical Analytics

The problem: a global shortage of pathologists

Cancer is diagnosed by a pathologist who examines tissue under a microscope, a process that depends on human skill, is slow, and is prone to errors at busy times. Cancer rates around the world are rising, while the number of pathologists is not growing at the same pace, a shortage that turns the waiting time for a diagnosis into a risk factor in its own right. Ibex, founded by Joseph Mossel and Chaim Linhart in 2016, built an AI system that scans digital pathology images (whole slide images) and marks suspicious areas for the pathologist: a "safety net," not a replacement for the human decision. In February 2026 Yair Heller, until then Chief Operating Officer, was appointed CEO. Co-founder Joseph Mossel, who had been CEO until then, moved to lead the biopharma business and the company's clinical growth in the US.

Ibex Prostate Detect: the company's first FDA clearance

In February 2025 Ibex received its first FDA clearance (510(k)), for Ibex Prostate Detect, a software device that analyzes prostate biopsy samples and produces a heatmap pointing to suspicious areas the pathologist might have missed. In the validation studies submitted to the FDA, the system showed a positive predictive value (PPV) of 99.6% for the heatmaps, and detected 13% of cancer cases that were first diagnosed as benign, cases later confirmed by expert pathologists. Beyond the prostate, the company has similar suites for breast cancer and gastric cancer, with European CE marking and registration with regulators in the UK, Australia and Brazil.

Global deployment and partnerships

Ibex describes itself as the most widely deployed AI platform in pathology in the world, with deployments at the University of Pittsburgh Medical Center (UPMC) and a nationwide deployment in Wales. The company also works with pharmaceutical companies such as AstraZeneca and Daiichi Sankyo to develop AI-based biomarker scoring tools for breast cancer. The Israeli company Nucleai works in a similar direction: according to its announcement, as part of the development of ADC cancer drugs it analyzes images of tissue slides from clinical trials for Gilead, and combines them with the trials' clinical outcomes.

Funding

In September 2023 Ibex raised $55 million in a Series C led by 83North, with participation from Sienna Venture Capital and existing investors Octopus Ventures, aMoon, Planven Entrepreneur Ventures and Dell Technologies Capital. The round brought the company's total funding to more than $100 million since it was founded in 2016.