Spectral AI, Inc. (NASDAQ: MDAI) received $31.7 million in funding from the Biomedical Advanced Research and Development Authority to accelerate development of its DeepView System, an AI-driven burn wound imaging technology.

The Dallas-based company will contribute an additional $9.7 million toward total development costs for feature advancements of the diagnostic system. This funding adds to the $54.9 million previously committed under Spectral AI's existing contract with BARDA, which has a total value of up to $150 million.

The DeepView System is designed for use in emergency departments, trauma centers and burn centers to assess burn wounds and provide treatment guidance to physicians. The company is currently awaiting a determination on market authorization from the U.S. Food and Drug Administration for the system.

"Burn wound assessment is crucial in determining next-step treatment for patients, which currently largely relies on the clinical judgement of physicians," said Vincent Capone, Chief Executive Officer of Spectral AI. "This unmet clinical need is dramatically magnified in the event of mass casualty burn incidents, or BMCIs, where the ability to triage burn patients rapidly and properly would be crucial."

BARDA is part of the Administration for Strategic Preparedness and Response within the U.S. Department of Health and Human Services. The funding modification supports continued development and FDA clearance of the DeepView System for commercial marketing and distribution.

According to the American Burn Association, 1.1 million Americans suffer from burn injuries annually, with 500,000 presenting to emergency departments and 40,000 requiring hospitalization. Only two percent of U.S. hospitals have burn centers, with approximately 250 burn surgeons nationwide.

The information is based on a company press release statement.