A Madison company that makes software approved to gauge treatment response in breast and prostate cancer patients plans to submit a second product, for blood cancers, for approval by early next year.

AIQ Solutions, which is based on technology developed at UW Carbone Cancer Center, raised $3.2 million in equity financing, the company announced this month. Capital Midwest Fund led the round, which also involved Rock River Capital Partners, 30Ventures and Wisconsin Investment Partners.

The money will help AIQ market its first artificial intelligence software product, Quantitative Total Bone Imaging, which was approved by the U.S. Food and Drug Administration last year, said Eric Horler, president and CEO.

The financing will also help the company prepare an application for the second product, Quantitative Total Marrow Imaging, expected to be submitted in the first quarter of next year, Horler said. Read the full story here.