What Ibex Medical Analytics does

Ibex Medical Analytics, founded in 2016 in Tel Aviv, develops AI-powered clinical-grade diagnostic solutions for pathology. Its core platform, currently branded Galen and most recently released as Ibex 4 in March 2026, ingests whole slide images of tissue specimens and applies deep-learning computer vision models to detect, grade, and classify cancers across multiple tissue types (breast, prostate, gastric) and staining modalities (H&E plus IHC for HER2, ER, PR, Ki67). Models are trained on a curated dataset of over 10 million slides with 150,000+ annotations from expert pathologists and validated through peer-reviewed publications in journals including Nature, Lancet Digital Health and the Journal of Clinical Oncology. The company holds the first FDA 510(k) clearance for an AI prostate-cancer detection device (February 2025) and CE-IVDR certifications across multiple products, with regulatory registrations covering the US, UK, EU, Australia, Brazil, Israel and Switzerland.

The product line spans Ibex Breast (with HER2, ER/PR, Ki67 and emerging Lymph Node modules), Ibex Prostate (Detect and grading variants), and Ibex Gastric, alongside a Biopharma Services arm providing biomarker quantification, companion diagnostic development, and clinical trial optimization for pharmaceutical partners including AstraZeneca, Daiichi Sankyo and Roche. Revenue is generated primarily through enterprise SaaS subscriptions, quote-based site licenses, and biopharma service agreements, with deployment options across cloud, on-premise, hybrid, and air-gapped environments. Go-to-market is direct enterprise field sales to laboratory networks and health systems (50+ deployed globally including HNL Lab Medicine, PathGroup, Alverno, Unilabs, CorePlus, NHS Wales, Institut Curie, UPMC, Maccabi Healthcare Services, and Dr. Lal Path Labs) supplemented by channel and integration partnerships with digital pathology vendors (Philips, Roche, Proscia, Fujifilm, Sectra, Dedalus, Indica Labs, Leica Biosystems, PathPresenter, mTuitive, and others). Reported 2024 ARR is $15.8 million, with the company citing a 70%+ increase in customer base and doubling of case volume in 2025, alongside total funding of over $100 million across Series B and Series C rounds plus debt financing.

Name

Ibex Medical Analytics

Legal name

Ibex Medical Analytics Ltd.

Website

https://ibex-ai.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Ibex Medical Analytics develops AI-powered, clinical-grade diagnostic software for pathologists, analyzing whole slide images to detect, grade, and quantify breast, prostate, and gastric cancers. It sells enterprise subscriptions and biopharma services to reference laboratories, health systems, and pharmaceutical partners across more than 50 deployments globally.

Ownership category

akta.pro rank

Product category

AI-powered Digital Pathology Diagnostics

NAICS

Medical and Diagnostic Laboratories (62151), Software Publishers (513210), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)

SIC

In Vitro & In Vivo Diagnostic Substances (2835), Surgical & Medical Instruments & Apparatus (3841), Services-Medical Laboratories (8071)

akta.pro primary industry

Medical Imaging AI (HDAAAEAH)

akta.pro secondary industry

Digital & AI-Enabled Diagnostics (algorithmic interpretation, decision support tied to assays) (HLAAALAO)

Keywords

• AI-powered cancer diagnostics
• Digital pathology platform
• Biomarker quantification
• Clinical decision support
• Whole slide imaging

Headquarters

HQ city

Tel Aviv-yafo

HQ country

Israel

HQ region

Middle East

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. AI-Powered Diagnostics Platform Subscription: SaaS-based subscription model providing access to Ibex's clinical-grade AI pathology platform, including algorithm updates, technical support, and integration services. Deployed across laboratory networks and healthcare systems on a per-analysis or site license basis.
2. Biopharma Services: Partnership services for pharmaceutical companies including biomarker development, clinical trial optimization, and companion diagnostic program support. Spans from exploratory preclinical work through regulatory submissions and global commercialization.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Ibex Medical Analytics develops and sells clinical-grade AI software that analyzes digitized pathology slides to detect, grade, and classify cancer and quantify biomarkers in breast, prostate, and gastric tissue. The platform (Galen / Ibex 4) is sold as an enterprise subscription to hospital pathology departments, reference laboratories, and biopharmaceutical companies, with deployments across cloud, on-premise, hybrid, and air-gapped environments.

Product overview

Ibex Medical Analytics offers a unified AI-powered pathology platform (Galen) comprising multiple clinically deployed solutions for cancer diagnostics. The core platform supports breast, prostate, and gastric cancers across H&E and IHC workflows. Key products include Ibex Breast (with HER2, ER/PR, Ki67 IHC sub-modules and Lymph Node under development), Ibex Prostate (FDA-cleared February 2025 with Detect sub-module), and Ibex Gastric (CE-marked). The Ibex 4 platform released March 2026 provides the next-generation end-to-end workflow with zero-click IHC quantification. Biopharma Services extends the platform for biomarker development, companion diagnostics, and clinical trial support with partnerships including Roche and AstraZeneca/Daiichi Sankyo. Deployed across over 50 health systems worldwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Ibex 4 (Galen Platform) Next-generation AI-powered pathology platform providing end-to-end cancer diagnostics for breast, prostate, and gastric cancers. Features automated H&E analysis, zero-click IHC quantification for HER2, ER, PR, and Ki67, enhanced user interface with prioritized insights, and streamlined LIS integration for clinical-grade cancer pathology in routine use.
• Ibex Breast Suite AI-powered breast cancer diagnostics suite for H&E and IHC analysis on biopsies and excisions. Detects over 50 malignant and benign tissue morphologies including microinvasion, DCIS, LVI, IDC vs ILC, and supports automated HER2, ER/PR, and Ki67 quantification aligned with ASCO/CAP guidelines; reduces review times up to 43%.
• Ibex Breast HER2 AI-powered HER2 biomarker scoring solution that automates 2023 ASCO/CAP scoring guidelines, removing subjectivity for HER2, HER2-low, and HER2-ultralow cases. Features zero-click invasive tumor detection, automated cell identification, interactive contours, and score recalculation.
• Ibex Prostate Clinical-grade AI solution assisting pathologists in detecting and grading prostate cancer in core needle biopsies and TURP specimens. Demonstrates AUC 0.991, 98.4% sensitivity, supports Gleason grading, tumor sizing, and perineural invasion detection, delivering 37% productivity gain and 27% reduction in diagnosis time.
• Ibex Prostate Detect FDA 510(k)-cleared AI device for identifying missed prostatic cancers in whole slide images of core needle biopsies. Demonstrated 99.6% accuracy rate and identified 13% previously missed cancers in validated studies; first FDA-cleared product from Ibex.
• Ibex Gastric AI-powered solution for gastric cancer detection and gastrointestinal cancer diagnostics. Assists pathologists in detecting gastric cancer, dysplasia, H. pylori, and lymphomas; CE-marked under IVDR and used in everyday clinical practice.
• Biopharma Services AI-powered biomarker development, clinical-trial optimization, and companion-diagnostic services for pharmaceutical partners. Spans exploratory preclinical work through regulatory submissions to global commercialization, including HER2 quantification, tumor microenvironment analysis, and ADC biomarker development.

Quantifiable outcome

• 37% productivity gain and 27% reduction in diagnosis time for prostate cancer diagnosis
• +7 more outcomes

Named customers15 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability6 records

Feature6 records

Partnerships

Twelve partnerships are on record, tiered core.

• RochecoreStrategic or Co-development PartnerCollaboration on AI-powered digital pathology applications for improved patient care, integrating Ibex's AI with Roche's pathology solutions and navify Digital Pathology marketplace. Also collaborated with AWS on joint AI deployment.
• PhilipscoreTechnology or IntegrationExpanded partnership to enhance AI-enabled pathology workflows. Philips integration enables Ibex AI deployment across Philips' digital pathology customer base, improving workflow productivity by 37%.
• ProsciacoreTechnology or IntegrationIntegration of Ibex AI into Proscia's Concentriq image management platform, enabling joint customers to deploy AI-powered cancer diagnostics within existing digital pathology workflows.
• DedaluscoreTechnology or IntegrationLaunched end-to-end AI-powered digital pathology solution across Europe, combining Dedalus' laboratory information systems with Ibex's AI diagnostics capabilities.
• Fujifilm Healthcare EuropecoreTechnology or IntegrationPartnership to integrate Ibex's AI platform with Fujifilm's pathology solutions to improve cancer diagnostics and reduce turnaround times globally.
• mTuitivecoreTechnology or IntegrationStrategic partnership integrating Ibex's AI-powered cancer diagnostic intelligence with mTuitive's CAP-, RCPath-, and ICCR-compliant structured reporting platform for automated population of AI findings into standardized reports.
• CorePluscoreImplementation/ SI/ Consulting PartnerClinical deployment partnership for AI-powered prostate cancer diagnostics including TURP procedures. CorePlus surpassed 250,000 AI-based analyses in routine practice. First laboratory in Americas to deploy AI for prostate and breast biopsies.
• HNL Lab MedicinecoreImplementation/ SI/ Consulting PartnerStrategic collaboration to deploy Ibex's AI solutions for prostate cancer diagnostics, integrating AI into HNL Lab Medicine's existing digital pathology infrastructure built on Proscia's Concentriq platform and Leica Biosystems imaging.
• Alverno LaboratoriescoreImplementation/ SI/ Consulting PartnerPartnership to expand use of AI-powered cancer diagnosis platform across Alverno's 32 laboratories to improve diagnosis of breast and prostate cancers.
• PathGroupcoreImplementation/ SI/ Consulting PartnerStrategic partnership for clinical deployment of AI-powered pathology solutions across PathGroup's diagnostic network.
• AstraZenecacoreStrategic or Co-development PartnerCollaboration on AI-based HER2 scoring product development, validation, and clinical adoption. IVDR certification obtained for HER2 biomarker scoring solution validated with AstraZeneca and Daiichi Sankyo. Strategic partnership for precision medicine initiatives.
• Daiichi SankyocoreStrategic or Co-development PartnerCollaboration on HER2 biomarker scoring solution validation, supporting development of AI-powered companion diagnostics for targeted therapies.

Scale indicators11 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• PathAI: PathAI is a direct competitor developing AI-powered pathology solutions for cancer diagnostics across multiple tissue types. Both companies offer deep-learning algorithms for H&E and IHC analysis, partner with biopharma for biomarker development, and compete for the same pathology lab and health system customers.
• Paige: Paige is a direct competitor in AI-driven digital pathology with FDA-authorized products for prostate cancer detection. Both target pathology laboratories and biopharma customers, leverage deep learning on whole slide images, and pursue similar regulatory and OEM partnership strategies globally.
• Owkin: Owkin applies AI to pathology and clinical research with a strong biopharma orientation. Both Ibex and Owkin compete in AI-assisted cancer detection and biopharma biomarker/companion diagnostic programs, and target pharmaceutical partners for translational research and clinical trial optimization.

Emerging players

• Proscia: Proscia is a digital pathology platform provider that integrates third-party AI algorithms including Ibex's. While partly a partner (Concentriq IMS), Proscia also develops its own AI applications and competes for the same laboratory platform spend, making it an adjacent competitor as well as a distribution channel.
• AIRA Matrix: AIRA Matrix is an emerging AI pathology player focused on cancer diagnostics and workflow automation for pathology labs in India and emerging markets. It is comparable as an AI pathology specialist serving diagnostic labs but operates at smaller scale than Ibex.
• Mindpeak: Mindpeak develops AI image analysis solutions for pathology, including IHC quantification and H&E analysis. It competes in similar IHC biomarker workflows (HER2, Ki67, PD-L1) and serves pharmaceutical and clinical customers in Europe.
• Aignostics: Aignostics is an AI pathology company spun out of Charité Berlin focused on biomarker discovery and companion diagnostics for biopharma. It overlaps with Ibex's biopharma services and translational research offerings while representing an emerging competitor in precision medicine AI.

Broad incumbents

• Philips Digital Pathology: Philips is both a key OEM partner and a broad incumbent in digital pathology with scanners, image management systems, and workflow software. Philips competes at the platform layer and could vertically integrate AI capabilities, creating both partnership upside and channel conflict for Ibex.
• Roche Digital Pathology: Roche is a strategic partner (navify Digital Pathology collaboration with AWS) but also a broad incumbent with scanner hardware, uPath software, and internal AI initiatives through Roche Diagnostics. Roche has the scale to bundle competing AI, representing both upside and a competitive threat to Ibex.
• Fujifilm Healthcare Digital Pathology: Fujifilm is a digital pathology OEM partner and broad incumbent with scanners and pathology workflow software globally. Like Philips and Roche, Fujifilm can either distribute Ibex AI or develop competing algorithms, making it both a partner and a structural competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/IbexMedAx
• LinkedInlinkedin.com/company/ibexmedicalanalytics
• Facebookfacebook.com/IbexMedAx

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 records

Funding overview

Funding rounds7 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ibex Medical Analytics