Thefieldofcancercareisrapidlyevolving,and
emergingcompaniesareattheforefrontof developinginnovativesolutionstotacklethis complexdisease.Oneofthemostpromisingareasof innovationisusingartificialintelligence(AI)toimprove cancerdiagnosis,treatmentandoutcomes.
AIalgorithmscananalyzevastamountsofdatafrom differentsources,includingmedicalimages,geneticdata andpatientrecords,andidentifypatternsthatmaybe difficultforhumanclinicianstodetect.Thiscanhelp physicianspersonalizetreatmentplansforindividual patientsandimprovetheirchancesofsurvival.
EmergingcompaniesareharnessingthepowerofAIina numberofways.SomearedevelopingAI-powered diagnostictoolstoanalyzemedicalimagestodetect cancerouslesionsthatmaybetoosmallordifficultfor
humanradiologiststosee.Thiscanleadtoearlierdetection andmoreeffectivetreatment.
OthersareusingAItodeveloppersonalizedtreatmentplans forcancerpatientsbasedontheirgeneticprofiles.By identifyingspecificmutationsandbiomarkersthatare uniquetoeachpatient'scancer,AIalgorithmscanhelp clinicianschoosethemosteffectivetreatmentoptions. AIisalsobeingusedtostreamlineclinicaltrialsforcancer drugs.AIalgorithmscanidentifypatientsmostlikelyto respondtoaparticulardrugbyanalyzingpatientdata, includinggeneticdataandmedicalhistory Thiscanreduce thetimeandcostofclinicaltrialsandimprovethechances ofsuccess.
Withadvancesintechnology,thepotentialforAIto revolutionizeourwayofapproachtocancertreatmentis becomingincreasinglyclear Thecompanieshighlightedin
thiseditionareattheforefrontofthisexcitingfield, harnessingthepowerofAItodevelopinnovativesolutions forcancerdetection,diagnosisandtreatment.Their groundbreakingworkischangingthewaywethinkabout cancercareandoffershopeforabrighterfutureforcancer patientsaroundtheworld.
InInsightsCare'slatestedition,Top10Emerging CompaniesSolvingCancerwithAI2023,wewillexplore theuniquestrategiesandtechnologiesofeachofthese companiesandhighlighttheimpacttheyaremakinginthe fightagainstcancer
Hope you have an inspiring read!
-PoojaShah
Editor-in-Chief
Chidiebere Moses Ogbodo
Managing Editor Pooja Shah
Executive Editor
Saloni Agrawal
Art & Design Head Visualiser David King
Mrunalinee Deshmukh
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Art & Picture Editor Deepanjali Jena
Business Development Manager
Emily Jones
Marketing Manager Bill Thompson
Business Development Executives
Anna Smith, Jack Miller
Sales Executives Mike, Carl, John
Technical Head
Jacob Smile Assistant Technical Head
Prashanth Hiremath
Technical Consultants David, Robert
Digital Marketing Manager Alina Sege Assistant Digital Marketing Manager Sagar Lahigade
SME-SMO Executive Gemson
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Circulation Manager Tanaji Fartade
AIE aie-op.com
Alexandru Floares CEO
Headquartered in Idaho with locations across the country, AIE is your one-stop-shop for new and refurbished medical, vet and dental equipment for small, medium, and large clinics.
iCAD icadmed.com
Jessica Burns PR
iCAD is a global medical technology leader providing innovative cancer detection and therapy solutions.
Inspirata lipotype.com
Satish Sanan CEO
Inspirata, Inc. helps patients fighting cancer—and the clinicians they trust—to make every moment matter
MedSol AI Solutions medsol.ai
Kathryn Malherbe CEO
MedSol AI Solutions’ artificial intelligence software allows an accurate and speedy diagnosis of breast cancer to allow quicker turnaround times to surgical intervention.
Oncobit oncobit.com
Claudia Scheckel CEO
Oncobit is a medtech UZH Spin-off, enabling personalized cancer care by matching patients to the best cancer treatment available.
Prognica Labs Tech prognica.com
Khalid Shaikh Founder and CEO
Prognica Labs Tech, an AI powered health-tech company, aims to improve clinical outcomes and accelerate the discovery of breakthrough advancements in the fight against cancer
Synaptiq synaptiq.io
Mihai Cata Co-Founder
Synaptiq is revolutionizing cancer treatment through AI-driven radiotherapy solutions.
Telefónica telefonica.com
Rodolfo Campa CMO
Telefónica have the best infrastructure, as well as an innovative range of digital and data services; therefore, they are favorably positioned to meet the needs of its customers and capture growth in new businesses.
Tribun Health tribun.health
Lorine Marcoux MM
Tribun Health powers the digital transformation of cancer diagnosis by designing innovative solutions.
Veru verupharma.com
Martin Tayler OP
Veru is a biopharmaceutical company focused on developing novel medicines for COVID-19 and other viral and ARDS-related diseases and for the management of breast and prostate cancers
Alexandru Floares Founder and Chief Executive Officer AIE
I first felt that all our work was in vain. However, looking more carefully, I realized that our MCED is much better (e.g., having a breast cancer detection rate of 99% instead of 33%).
Fictionalmoviesimpacttheviewersinvariousways.
And,outofmany,themostpopularscenicmoment peoplehaveheldwiththemistohaveapersonal genie.While,forobviousreasons,itisdifficulttohavea realwish-fulfillinghuman,butapossiblesolutionisoffered bytechnologythroughitsplatformofartificialintelligence.
Thoughtheavenuesofferedbythisareusedtoaidawide rangeofhumanprogressions,itisbecomingthemost popularinthehealthcaresector.Fromdiagnosisto treatment,AIhasbeentakingcareofeveryminutething requiredinthecontemporaryhealthsetting.
Today,theforemostmedicalchallengeisthespiraling incidenceofnon-communicablediseases,inwhichcancer rankssecondplaceaftercardiovasculardiseases.
AccordingtotheInternationalAgencyforResearchon Cancer,globally,oneinfivepeopleisaffectedbythis disease.Manydoctorsstatethatthemaincausebehindthis isthedelayinthedetectionofcancer,alongwithalmostten totwentypercentchancesofmisdiagnosis.
Asaneffectivesolutiontothis,manycompaniesare calibratingscientificmethodologiestoconvergehuman intelligencewithtechnologyinthehealthcareindustryto helpdoctorsidentifymalignanciesintheirearlystages.
OnesuchcompanyisAIE,whichistransforming biomedicalproblemsintoDataScienceproblemsthatare improvingaccuracyinearlyrecognitionofcasesalongwith itsfirstMulti-CancerEarlyDetectiontesttosaveand improvenumerouslives.
ThissolutionwaspioneeredbyitsFounderandCEO–Dr.AlexandruFloares,whoholdsanMDandaPh.D. degreeinBiophysicsandisleadingthemedicalfieldwith hisresearch-drivenAI-baseddiagnosisandprognosis initiative.
AIEwasfoundedin2017asaspinoffofaprivateresearch NGO,SolutionsofArtificialIntelligenceApplications (SAIA).AllSAIAfounderswerephysicians,includingthe founder–aneurologistwithasolidmathematical background.
AtSAIA,theystartedin2004totransformbiomedical problems,especiallyinthecancerfield(astheco-founder CarmenFloareswasanoncologist),intoDataScience problemsandtriedtosolvethemwithAI.
Dr Alexandrushares, “At that time, we did not realize that our approach was pioneering the actual paradigm shift in biomedicine. In 2008, we started a collaboration with MD Anderson Cancer Center aiming to diagnose bladder cancer early by using the circulating (liquid biopsy) miRNA and AI.”
Thistestperformanceestablishedanewstate-of-the-art, inspiringthemtocontinueinthisdirectionwithtwoother similarprojects.Aplethoraoffreeclinicalstudiesdata becameavailable,enablingAIEtodevelopitsfirstMultiCancerEarlyDetection(MCED)testin2012(unpublished results).
In2018,AlexandrufoundapaperaboutanMCEDtest, highlyacclaimedinthemedia.Hesays, “I first felt that all our work was in vain. However, looking more carefully, I realized that our MCED is much better (e.g., having a breast cancer detection rate of 99% instead of 33%).”
ThisdeterminedtheleaderandtheteamatAIEtoentirely focusonanacceleratedgo-to-marketwiththeirMCEDtest, totheirknowledge,thebestone.
Alexandru'sjourneystartedasaclinicalneurologistwitha solidmathematicalbackgroundwhenherealizedthat
despitehishardworking,thefateofstrokepatientsisnot significantlychangedbyhisorhiscolleague'streatments. Butatthesametime,hewasexcitedbythenewlyemerging AI.
Hemadethehardestlifedecision–toquitneurologyand followhisdream,AI.Hesaysthatheknewmoreabout whathedidnotwanttodothanwhathewoulddo.He considersitthebestdecisionofhislife.
HefoundedSAIAandfollowedaprettysuccessful scientificresearchcareer.In2017,hisjobwasstill ascending,andhehadalotofresearchplans.Hethen realizedthattheirMulti-CancerEarlyDetection(MCED) waswaybetter,butheneededastartuptodevelopitfurther Hewasfacingthetoughdilemmaofleavinghiscareer midway.Buthedecidedtostartagainfromzero,asa businessmanthistime.
Thisthoughtwasjustthebeginningforhim.
Then,heandhisteamwonsomecompetitionswhere businesstrainingwasanimportantpart.Hefoundthat professionalbusinessmanagementisclosertoDataScience withAIthanhehadexpected–usedata,definemetrics, experiment,optimize,etc.
Thus,AIEnaturallybecameanAI-drivencompany. Consideringthattheirresearchisflourishing,andtheir startupisgrowingfastandhenceforhimthisdecisionwas goodtoo.Theonlyprice,hefeels,isworkingtwelvehours perday,6–7daysperweek,butthatwasalwayshis
workingprogram,whichtalksaloudofhisdedicationputin hisworktoachievewhathehaddreamtof.
First,bothco-foundersworkeddirectlywithpatientswith severeillnesseslikestrokeorcancer Alexandrushares, “We know what suffering means and when patients place their lives and hope in your hands. I used to think that my personal ambitions strongly motivated me too.”
We know what suffering means and when patients place their lives and hope in your hands. I used to think that my personal ambitions strongly motivated me too.
However,hisrecentvisittotheVaticanforatalkaboutAI inCancermadehimfeelthatwasaproperplacetomeditate onthemeaningofone'slife.
Sharinghisexperience,hesays, “I realized that I quit neurology because I could not save and improve lives but could surely do it with our cancer tests. My ambitions could not be satisfied only by publishing some papers about the best cancer tests. I understood that if my tests remained just brilliant intellectual exercises, instead of saving and improving lives, my life would be a failure, and failure is not an option.”
Thiscontemplationledhimtomakehismissionthe company'smissionaswell,whichisalsoreflectedinthe company'sofferings.
Talkingabouttheelementsofthecompany'sservices, Alexandruopines, “We started to think that non-invasive
tests should be preferred to invasive ones for the benefit of the patients. The tests should be data-driven - let the data speak instead of imposing a model on it.”
Toassureitscustomersaboutcredibilityindata,AIisbeing usedasitunderstandshigh-throughputdatabetterthanany humanbeingdoes.
ThisstrengthofAImaynotalwaysreflectthetrueversions.
Explainingfurtheraboutthis,Alexandrusays, “No matter how attractive a specific molecular alteration looks from the biological knowledge viewpoint, let AI check if this is informative or not for a given biomedical problem. As AI only extracts the existing information in data, if these alterations are not very informative, the performance will be necessarily low. Moreover, living systems are functionally redundant.”
Toputitsimply,Alexandrubelievesthatthesamefunction couldbeperformedindifferentbutequivalentwaysatthe molecularlevel,makingthemhighlyrobust.Thishasa substantialimpactonbiomarkerdiscoveryandpredictive modeldevelopment.
Tocomprehendthisfurther,heputforthaninstance.He says, “For example, in a small cohort of patients used for learning, AI can find a pattern of alterations, but in another one, a different but functionally equivalent dominates. This means the model will not generalize to new unseen cases well.”
Continuingtogivedeeperinsights,hesays, “The situation is even worse when you have many variables and few cases. Small studies are inconclusive, so we collected more than 10,000 cases. What is statistically irrelevant, e.g., highly
Putting it all together, we defined and followed the ART criteria – our tests (models) should be highly Accurate, Robust, and Transparent.
correlated variables, and eliminated by the AI algorithms, could be biologically relevant.”
AIEdualsetofproblemstobeaddressed,whichAlexandru saysare, “We avoid aggressive feature selection as it results in models not generalizing well and secondly, physicians do not trust a model unless its predictions are transparent and intelligible.”
Hence,itusesExplainableAI(XAI).Alexandrusays, “Putting it all together, we defined and followed the ART criteria – our tests (models) should be highly Accurate, Robust and Transparent.”
AIE'sMCEDtestbelongstothenewgenerationofdigitalonlymedicaltestsandmakesahighlyaccurateearlycancer detectionroutine.Ithasthehighestperformanceof99-100 percentaccuracyatanaffordableprice.Itistechnology-
agnostic,workingonNGS,microarray,PCRand Nanostringdata.
Givingwordstothetest'sperformance,Alexandrusays, “It is personalized – AI offers a personalized explanation of the diagnosis in terms of altered circulating miRNA. In addition, the test can monitor the response to treatment.”
AIE'sAIplatformresultsfrommorethanfifteenyearsof researchandcontinuouslyevolvesashigh-throughput technologiesandAIprogresses.Itcombinesbioinformatics pipelinestoprocesstherawomicsdataandtransformitinto theformatrequiredbyAItodeveloppredictivemodels.
AccordingtoDr Alexandru,mostexistingbioinformatics pipelinesconsistofstepsthatmake(unrealistic)statistical assumptionsaboutthedataandsimplificationsandperform optimizations.
Hesays, “There are theorems stating that a neural network can approximate (discover) any function. Post some “crazy” experiments, we had a revelation. We found that neural networks can discover better bioinformatic pipelines than we would do – making no assumptions or simplifications and having a single optimization process, e.g., a diagnosis accuracy. The result is an end-to-end solution consisting of data transformations giving the best accuracy.”
Theirplatformisdisease-agnosticandworkswiththemost availableomicsdata.However,hecomments, “There are still some questionable beliefs in the field. For example, a study should end with the differential expression of omics.” Questioningthecurrentpractices,heenquires, “So why do
Machine Learning (ML) practitioners not perform this step in other areas?”
Presentingananswertothisquery,hesays, “Because ML algorithms always ignore the inputs with no differences between two or more conditions, being uninformative. Another belief is that we need just a list of biomarkers to solve practical problems. However, with the same list of biomarkers, one can build the best or the worst model.”
Therefore,Alexandruasserts, “There is a need to discover from data a subset of the differentially expressed omics and the relationship (predictive model) between them and the output, e.g., a diagnosis, prognosis, or response to treatment.” AndthiscouldbefulfilledwithotherHi-tech avenues.
Inthelastfewdecades,themostoutstandinghealthcare progresswasduetotheenormousimpactofICTon medicalimagingandmolecularbiology.Forexample,the oldradiographybecamecomputedtomography.
Similarly,conventionalmolecularbiologytechnologies becamehighthroughput.
Complementingsuchinnovationsinthefield,Alexandru comments, “Both are big leaps, but the huge one has just started – AI becoming structural to healthcare. We can say that healthcare is in the high-throughput data age. However, our mindset is not yet in this age but is facing a paradigm change.”
Geneticinformationisdistributedandaccessedinparallel. Thebiologicalrealityatthemolecularlevelconsistsof
complexandintricatenetworksofmolecules.Hesays, “Not long ago, we asked what gene is responsible for a complex disease. However, an organism where a single gene could be so important will hardly survive natural selection.”
Addingon,hesays, “However, we still think about a couple of tens of molecules we can list and “mechanistically explain.” AI-powered medical imaging will evolve fast as the algorithms for computer vision which will be easily adapted to medical imaging.”
Heemphasizesthefactthattheworldhastounderstandthat theabove-mentionedadaptabilityisnottrueforthehighthroughputomicsdata,astheyhavespecificpeculiarities notpresentinthenon-biologicalworldwheretheAI/ML algorithmsweredeveloped.Hence,Dr Alexandru comments, “Until we comprehend this, most predictive models and corresponding biomarkers will not generalize well to new data.”
Hebelievesthatthetimeisnotfarwhenhospitalswill becomevirtualdistributedorganizationscrossingthewalls andevennationalborders,andhumanteamswill collaboratewiththeirdigitalcounterparts,improving patients'outcomesandsavingresources.
TheteamatAIEisworkingnowonwhattheyseeasthe solutionwheretheywillfirstlyautomatethehealthcare workflows.Then,willimplementIntelligentSystems(AI) capableoftakinginputsfromallkindsofdata(multimodal),includingomicsandimages,andgivingresults fromdiagnosis,prognosis,responsetotreatmentprediction, etc.(multi-task).Theworkflowindications(bestpractices) andallpredictionswillbeexpressedasintelligiblerules.
Asthesectorisexpanding,moresuchinnovationswouldbe neededtoreducetheglobaldiseaseburden.Andtowalkthe stepsofsuccess,deeperinsightsandguidancebecome essentialforpersonsdesiringtoventureintothisfield.
Forthispurpose,Dr.Alexandruspreadshiswordsof wisdomtoyoungentrepreneurswhereheadvises, “As we are in the middle of a revolution, you should think differently, revolutionarily. Do not consider the actual biomedical knowledge as almost complete and almost perfect. It will be heavily challenged by the knowledge we will extract with AI from rapidly accumulating highthroughput data. This will impact not only the technology but also the business models. You should disrupt both, thinking about the patient's and physician's problems. Imagine yourself as a surfer. Big waves are coming. Be prepared to see them, catch them and ride them.”
Afteratimeofhard-workingwithoutvisibleresults,they weresuddenlyblessedwithaforty-twotimesgrowthin funding(grantsandinvestments),allowingthemtoenlarge both–theR&Dandthebusinessteam.
AstheirAI-poweredplatformisdiseaseagnostic,together withatopEUconsortium,theyareplanningtoenterthe psychiatryfield–depressiontreatmentoptimizationand personalization.Theyalsointendtoextendtootherareas, e.g.,cardiovasculardiseasesandhealthwearablesensors.
TheyhavelaunchedtheirBiomedicalDataanalysis services,combiningbioinformaticsandAI,accelerating theirgo-to-marketjourneyfortheMCEDtest.
Dr Alexandrushares, “We will further develop our consistent portfolio of ideas and proof of concepts, becoming a solid catalyzer of the actual healthcare revolution. We are riding big waves.”
“Clearly, this could be not only the best multi-cancer test on the market but also a paradigm change in the whole field of molecular diagnostic.”- George A Calin, MD, Ph.D Professor, Departments of Experimental Therapeutics and Leukemia Co-Director, The RNA Interference and Non-coding RNA Center at MD Anderson
The company has won various accolades in its journey. A few notable ones are mentioned below:
Ÿ AIE was mentioned in the book - Top Disruptors in Healthcare Report.
Ÿ AIE won the European Innovation Council Seal of Excellence with its Breast Cancer early detection project (VINCI; 6M Euro) and, in a consortium, a Horizon Europe 10M Euro project on optimizing and personalizing depression treatment with AI.
Imagine yourself as a surfer. Big waves are coming. Be prepared to see them, catch them, and ride them.
Cancerisnotonlyaleadingcauseofdeathtoday,but italsotakesatollonthelifeofthepatient.Itisa painful,difficultanduncertainjourneyoverall.
Whilethesepatientshavetheutmostrighttobegiven personalizedtherapysuitabletotheirphysicaland emotionalneeds,thetraditionalmethodsofdiagnosiskeep themfromhavingit.
Oncobiteliminatesthisgapoflimitedoptionstodiagnose andmonitorcancerpatients.Throughhighlysensitive diagnosticandmonitoringtools,thecompanydeliversthe mostappropriatetreatmentselectionstothephysicians,thus enablingpersonalizedtreatmentforcancer
InaninterviewwithInsightsCare,ClaudiaScheckel,the CEO,sharesindepthaboutOncobit'suseofnon-invasive technologiestoenablepersonalizeddiseasemonitoring.
Following are the excerpts from the interview:
Pleasebriefusaboutthecompanyanditsinception.
Personalizedcancertherapiesarebeingdevelopedatan increasinglyrapidrate.Toofferpersonalizedtherapies, diagnosticsmustkeeppacetoprovidethenecessary information.Yetcurrentsolutionsarenotsensitiveand specificenough,anddiagnosticdataanalysisand interpretationarebecomingincreasinglycomplex.These unmetneedswerequiteapparenttotwoofmyco-founders, whostudycancerandareProfessorsattheUniversityand UniversityHospitalofZurich.Toaddressthemthey developedamorespecificandmoresensitivediagnostic testformelanoma.Andthat'showwefoundedOncobit.
Kindlytellusaboutyourselfandyourprofessional journeysofar.
Ihavebeenlivingmypassionforscienceandanalytical thinkingforalmost20years.AfterobtainingmyPh.D.in biochemistryfromtheUniversityofBasel(Switzerland),I workedforalmostadecadeinleadingbiomedicalresearch institutionsinNewYork(TheRockefellerUniversity)and Zurich,Switzerland(UniversityHospitalZurich).
Duringthattime,Ihadseveralentrepreneurialtouchpoints, gotadegreeinmanagement,andultimatelyjoinedOncobit asCo-founderandCEOinthespringof2020toactively transformmyknowledgeintomedicaladvancesforthe benefitofpatients.
Whatarethekeyproductsandservicesofferedbythe companyandhowisitimpactingthedemographic concerned?
Wehavebuiltaportfolioofthreeteststhataccompany cancerpatientsthroughouttheirhistory.Fordiagnostics,we havedevelopedtwocancer-specificsequencingassaysthat provideacomprehensiveprofileofthepatient'stumor, TM TM usingeithertissue(Oncobit Dx)orblood(Oncobit LB) asinput.Thisallowsustoprovidemoretailoredtherapy decisionsupportcomparedtothecommon"one-size-fitsall"solution.
Additionally,wehavedevelopedaradicallysimplified TM personalizedmonitoringsolution(Oncobit PM),detecting andquantifyingcancer-specificmarkersinthepatient's blood.Thetestisminimallyinvasiveandcanbeapplied repeatedlyandlongitudinallytomonitortherapyresponse andcancerrecurrence.
Allourproductsconsistofanassayandsoftware,andthe uniquecombinationoftechnicalknow-how,proprietary software,andcloseclinicalcollaborationsallowusto developmorecomprehensiveandsensitivecancer diagnosticandmonitoringsolutions.Todate,wehave focusedonmelanoma,butwehaveascalableapproachand arecurrentlyexpandingourportfoliotoothercancertypes.
Whatarethecorevaluesofthecompany?Howareyou drivingthecompanytoachieveitsmissionandvision statement?
AtOncobit,our vision istoenablepersonalizedcancercare, byprovidinghighlysensitiveandcomprehensivesolutions tofindthebestcancertreatmentforeachpatient.Weuse state-of-the-arttechnologiestoprovidephysicianswith cancer-specific,innovativeandhigh-qualitydiagnosticand monitoringtestsandtherapy-decisionsupport.
Our mission istoworkcloselytogetherwithcliniciansto developteststhatareusefulfortheclinic,andtherefore ultimatelythepatient.Oncobitisascience-drivencompany foundedoutofanurgentneedandcanthereforeaccurately understandandrespondtotheneedsofourcustomerswith highprecision.Honestyandtransparencyareimportant tousandwin-winisnotasloganbutaprerequisitefor anyformofcooperationwithus.Toleranceofother opinions,religions,sexualorientationsandlife modelsandrespectfulcommunicationis essentialforus.
Inyouropinion,howisAIincreasing thesurvivalratesamongcancer patients?Howisyourcompany usingthistechnologyinunique waystodeliverthebestresults?
AI-assistedtherapyselectionisa keydriverforimprovingpatient outcomes.Basedonpatients' clinical,genomicandoutcome
At Oncobit, our vision is to enable personalized cancer care, by providing highly sensi ve and comprehensive solu ons to find the best cancer treatment for each pa ent. We use state-of-the-art technologies to provide physicians with cancer-specific, innova ve and high-quality diagnos c and monitoring tests and therapydecision support.
Claudia Scheckel CEO Oncobit
information,AIcanlearnpatternsthatareassociatedwith positivetherapyresults.
AtOncobit,weareinvolvedintwoaspectsofthisprocess: ononehand,weareprovidingtheproductsforderiving TM high-qualitygenomic(Oncobit DxandLB)andoutcome TM(Oncobit PM)data,whicharekeyfortraininghighperformanceAImodels.Ontheotherhand,weareusing thesemodelstosuggestthebestpossiblecancertherapyfor patients.
Inaddition,weuseAIinthedevelopmentofallourcore products,suchasforthedesignofoptimalgenepanelsor theanalysisofcomplexgenomicdata.
Whatarethekeychallengesintheindustryandhoware youinfusingyourleadershipskillstoturntheminto opportunitiestochartthecompany'sgrowthupwards?
Personalizedtherapiesareconstantlyevolvingandare becomingthestandardofcareforcancertreatment.Yet, ensuringthattherighttherapyregimewasselected,requires sensitive,rapidand,aboveall,cancer-specificdiagnostic andmonitoringsolutions.Inaddition,theanalysisand interpretationofthedataofthesetestsarebecoming increasinglycomplex.
Asastart-upcompany,wehavetheflexibility,knowledge andcapacitytodeveloppracticalandmarket-oriented solutionsthatpreciselymeettheseunmetneeds.Our TM minimalinvasiveblood-basedOncobit PMtestisagood example.
Wehaveappliedourtechnicalexpertisetodevelopa quantitativecancer-specificassay,applyinganultrasensitive method,digitalPCR.Yet,whenapplyingsuchultrasensitive methodologies,standardizeddataanalysisiscriticalto eliminatebiases,providemorerobustresultsandachieve optimalsensitivityandspecificity.Ourtest,therefore, includesaproprietarysoftwaresolutionthattakeshealthy dataintoaccountwhenclassifyingpatientsamples,while enablingautomaticdataanalysis,interpretationand reportingatthesametime.
Asanexperiencedleader,whatadvicewouldyouliketo givetoaspiringentrepreneursandenthusiastswhowish toventureintothecompetitiveindustrythatyouare serving?
Istronglybelievethatclosecollaborationwithphysiciansis criticalindevelopingproductsthatwillbeusedinthe
clinic.Atthesametime,thehealthcaremarketishighly complex,anditisnotsufficienttoonlyfulfilltheneedsof physiciansandpatients.Regulatoryagencies,hospitalsand healthinsurancesarecriticalstakeholders,andontopof thathealthcaresystemsbetweencountriesarerarelyalike. Thiscomplexitycanbequitedaunting,especiallyfora smallstartup.
Yetwiththerightteam,goodadvisorsandtherightstrategy everythingismanageable,andfindingandsettingupagood supportsystemisthereforeessential.Onethenquickly learnshowtobreakdowncomplexproblemsinto manageableparts,focusonwhatisimportantandhowto quicklygatherjustenoughinformationtomakeadecision.
Resilience,pragmatism,decisiveness,highintrinsic motivation,andaboveall,passionforwhatyoudoarekey qualitiesthathelpyounavigateevencomplexindustries.
Whatarethefuturegoalsofthecompany?Howdoesit envisionscalingupitsoperationsandreachin2023and beyond?
Wearecurrentlyexpandingourpersonalizedmonitoring testtoadditionalmelanomamarkersandwillexpandto othercancertypeslaterthisyear Withourproprietary softwaresolutionsbeinganintegralpartofallourproducts, ourapproachiseasilyscalable.Inthelongrun,wewantto becomeaworldwideleaderincancerdiagnosisand monitoring.
Giveusafewtestimonialsfromyourclientsor customers,andawardsorrecognitionthataccurately highlightyourcompany'spositioninthemarket.
Wehavewonseveralstart-upcompetitionsandawards, whichwasanimportantrecognitionofourcompany,our productsandourteam.Thefactthatwegettoworkclosely withleadingdermato-oncologistsisatestimonialthatwe havetherightapproach.Althoughthereisstillmuchforus todo,Iamveryproudofwhatwehavealreadyachieved, includingISO13485certificationofourquality management,andregulatoryapprovalforourfirstproduct.
Cancer-Adevastatingdiseasethataffectsmillionsof peopleglobally
Whileadvancementsinmedicineandtechnology haveimprovedthediagnosisandtreatmentof cancer,thediseaseremainscomplex,andits treatmentrequiresamulti-disciplinaryapproach.Oneofthe mostpromisingdevelopmentsinrecentyearshasbeenthe applicationofartificialintelligence(AI)incancercare.By leveragingmachinelearningalgorithmsandbigdata analytics,AIhasthepotentialtorevolutionizecancercare byenablingmoreaccurateandpersonalizeddiagnoses, improvingtreatmentoutcomes,andincreasingthe efficiencyofclinicaltrials.
Emergingcompaniesareplayingacrucialroleinthe developmentandapplicationofAIincancercare.These companiesarenimble,innovative,andaredrivenbya missiontousecutting-edgetechnologytosolvecomplex problemsincancercare.TheyareleveragingAItodevelop innovativesolutionsthatcanhelpcliniciansdiagnose cancerearlier,designmoreeffectivetreatments,and
managevastamountsofoncologydata.Thesecompanies areoftenattheforefrontofinnovation,workinginclose collaborationwithacademicinstitutions,research organizations,andotherstakeholdersinthehealthcare ecosystem.
Let's discuss the ethical considerations that must be considered when using AI in cancer care.
Precisionmedicineinvolvesusinggeneticdatato tailortreatmentplansforindividualpatients.AI algorithmscananalyzeapatient'sgeneticdatato identifyspecificmutationsandbiomarkers uniquetotheircancer,whichcanbeusedto developpersonalizedtreatmentplans. EmergingcompanieslikeGuardantHealth aredevelopingliquidbiopsyteststhatuseAI algorithmstoanalyzeDNAinthe bloodstreamandidentifymutationsand biomarkersuniquetoeachpatient'scancer. Thisinformationcanbeusedtodevelop personalizedtreatmentplans,suchas targetedtherapiesthatspecificallytarget
thegeneticmutationsdrivingcancer.Thisapproachcan improvepatientoutcomesbyreducingthelikelihoodof treatmentresistanceandminimizingtheriskofsideeffects.
Medicalimagingplaysavitalroleincancerdiagnosis,but interpretingmedicalimagescanbechallenging,evenfor experiencedradiologists.Emergingcompanieslike Paige.AIuseAIalgorithmstoanalyzemedicalimagesand improvecancerdiagnosisaccuracy.Paige.AIusesdeep learningalgorithmstoanalyzemedicalimagesandidentify cancerouslesionsthatmaybetoosmallordifficultfor humanradiologiststodetect.Thiscanleadtoearliercancer detectionandimprovedpatientoutcomes.AIcanalsohelp radiologistsidentifypatternsinmedicalimagesthatmay indicatespecifictypesofcancerorcancerprogression.
Clinicaltrialsarecriticalindevelopingnewcancer treatments,buttheycanbetime-consumingandexpensive. AIalgorithmscanhelpstreamlineclinicaltrialsby identifyingpatientsthatmightrespondtoaparticular treatment.EmergingcompanieslikeBergHealthareusing AIalgorithmstoanalyzepatientdata,includinggenetic dataandmedicalhistory,toidentifypatientsmostlikelyto respondtoaparticularcancerdrug.Thiscanhelpreduce thetimeandcostofclinicaltrialsandimprovethechances ofsuccess.AIcanalsohelpidentifypotentialsideeffects anddruginteractions,allowingresearcherstodevelopsafer andmoreeffectivecancertreatments.
Theamountofdatageneratedinoncologyresearchand patientcarecanbeoverwhelming,andtraditionaldata managementmethodsmaybeunabletokeepup.Emerging companieslikeSyapseuseAIalgorithmstomanageand analyzeoncologydata.SyapsehasdevelopedanAIpoweredplatformthatcananalyzelargeamountsof oncologydataandidentifypatternsandtrendstohelp clinicianspersonalizetreatmentplansforindividual patients.AIcanalsohelpidentifypotentialareasfor researchanddevelopment,allowingresearcherstofocuson areasthataremostlikelytoleadtobreakthroughsincancer treatment.
AsAIbecomesmoreinfluentialindecision-making,itis essentialtobeusedtransparentlyandethically.Emerging companiesmustberesponsibleforthedevelopingand usingAI-poweredsolutions,andpatientsmustbeinformed abouthowtheirdataisbeingused.Privacyconcernsare alsoimportant,toprotectpatientdatafromunauthorized accessoruse.Itisessentialtostrikeabalancebetweenthe potentialbenefitsofAIincancercareandtheethical considerationsthatmustbeconsidered.
EmergingcompaniesareusingAItoimproveprecision medicine,cancerdiagnosis,clinicaltrialsandoncologydata management.AIhasthepotentialtotransformcancercare andimprovepatientoutcomes,butethicalconsiderations mustbetakenintoaccounttoensurethatAIisused responsiblyandtransparently.Itisimportanttostrikea balancebetweenthepotentialbenefitsofAIincancercare andtheethicalconsiderationsthatmustbeaddressed.With continuedinvestmentandcollaborationbetweenemerging companies,cliniciansandpatients,theuseofAIincancer carewillundoubtedlygrowinthecomingyears.Thiswill leadtomorepersonalizedandeffectivecancertreatments, improvedclinicaltrialsuccessrates,andbetteroncology datamanagement.AIisapowerfultoolinthefightagainst cancer,andemergingcompaniesareattheforefrontofthis revolution.
-PoojaShah
Breastcancerimpacts21millionwomeneachyear worldwide,amongwhich1in8womenwill developinvasivebreastcancerintheirlifetime.In thesecircumstances,accuratedetectionandprevention cannotbecompromisedasitisestimatedtohavea98% survivalrateifdetectedearly
Pertainingtothehope,PrognicaLabsiscommittedtothe advancementoftechnologythatwillimprovebreastcancer survivalratesworldwide.ItsAI-poweredplatform, PrognicaMMG and PrognicaUSG analyzemedicalimages andgeneratemedicalreportsfromanywhere,thusenabling accurateandearlydetectionofbreastcancer
InaninterviewwithInsightsCare,KhalidShaikh, FounderandCEO,talksaboutthecompany'sinnovative solutionsforsaving,celebratingandleadingthefight againstbreastcancer.
Following are the excerpts from the interview:
PleasebriefusaboutPrognicaLabsanditsinception.
TheideaforPrognicaLabswasbornoutofmypersonal experiencewithbreastcancersurvivorsandastrong passionforworkingtowardsociety.Irealizedthattherewas asignificantneedformoreaccurateandaccessiblebreast cancerdetectionsolutions,especiallyindeveloping countrieswhereresourcesarelimited.
Toaddressthisneed,IfoundedPrognica Labswithamissiontodevelopinnovative solutionsthatwouldhelpdoctorsand patientsdetectbreastcancerearlyand accurately Thecompany'scurrentproducts, PrognicaMMGandPrognicaUSG,areAIpoweredbreastcancerdetectionsolutionsthatuse deeplearningalgorithmstoanalyzemammograms andbreastultrasoundtoidentifysuspiciouslesionswith highaccuracy.
Whatarethekeyproductsandservicesofferedbythe companyandhowisitimpactingthedemographic concerned?
PrognicaLabsisamedicaltechnologycompanythat specializesindevelopingAI-powereddiagnostictoolsfor breastcancerdetectionandtreatment.Thekeyproductsand servicesofferedbyPrognicaLabsinclude:
Ÿ PersonalizedBreastCancerRiskAssessment: PrognicaLabs'web-basedplatformusesadvanced machinelearningalgorithmstoanalyzemammogram andultrasoundtoprovidebreastcancerdiagnosticand riskassessment.Thiscanhelphealthcareproviders identifyindividualswhomaybenefitfromearlier screeningormorefrequentcheck-ups.
Ÿ Computer-aidedDetection(CAD)Software:Prognica LabshasdevelopedCADsoftwareformammography
By using AI technology to improve the accuracy and efficiency of breast cancer detection and treatment, Prognica Labs is helping healthcare providers provide better care to patients.
Our personalized breast cancer risk assessment can help identify patients who may be at higher risk of developing breast cancer, allowing for earlier detection and intervention.
thatusesmachinelearningalgorithmstoanalyze medicalimagesandflagareasthatmayneedfurther examination.Thiscanhelpradiologistssavetime detectingabnormalitiesorsignsofcancerthatmaybe difficulttodetectwiththenakedeye.
TheimpactofPrognicaLabs'productsandservicesis significantforthedemographicconcerned.ByusingAI technologytoimprovetheaccuracyandefficiencyofbreast cancerdetectionandtreatment.Additionally,ourCAD softwarecanhelpradiologistsdetectabnormalitiesthatmay bedifficulttodetectwiththenakedeye,leadingtoearlier diagnosisandbetterpatientoutcomes.
Overall,PrognicaLabs'productsandserviceshavethe potentialtomakeasignificantimpactinthefightagainst
breastcancer,ultimatelysavinglivesandimproving outcomesforpatients.
Whatarethecorevaluesofthecompany?Howareyou drivingthecompanytoachieveitsmissionandvision statement?
AsanAI-poweredmedicaltechnologycompany specializinginbreastcancerdetectionanddiagnosis, PrognicaLabsisguidedbythefollowingcorevalues:
Ÿ Innovation:PrognicaLabsiscommittedtodriving innovationinbreastcancerdetectionanddiagnosisby leveragingthelatestadvancementsinartificial intelligenceandmachinelearning.
Ÿ Accuracy:PrognicaLabsprioritizesaccuracyinallof
itsproductsandservices,ensuringthatpatientsreceive themostreliableandprecisebreastcancerdiagnosis recommendationspossible.
Ÿ Patient-centricity:PrognicaLabsplacesthepatientat thecenterofeverythingitdoes,workingtoimprove patientoutcomesandexperiencesthroughitstechnology andservices.
Ÿ Ethicsandintegrity:PrognicaLabsoperateswiththe highestlevelofethicalstandardsandintegrity, prioritizingpatientprivacyandsecurityinallaspectsof itsbusiness.
Toachieveitsmissionandvisionofimprovingbreast cancerdetectionandtreatmentthroughAI-powered solutions,PrognicaLabsisdrivenbyanumberofstrategies andinitiatives.Theseinclude:
Ÿ Investinginresearchanddevelopment:Prognica Labsinvestsinresearchanddevelopmenttostayatthe forefrontofthelatestadvancementsinAIandmachine learningforbreastcancerdetectionanddiagnosis.
Ÿ Partneringwithhealthcareprovidersand organizations:PrognicaLabscollaborateswith healthcareprovidersandorganizationstoexpandaccess toitstechnologyandservicesandtoensurethatits productsaremeetingtheneedsofpatientsand healthcareproviders.
Ÿ Focusingonqualityandaccuracy:PrognicaLabs prioritizesqualityandaccuracyinallofitsproductsand services,workingtocontinuallyimprovethereliability andprecisionofitsbreastcancerdetectionand diagnosissolutions.
Ÿ Promotingawarenessandeducation:PrognicaLabsis committedtoraisingawarenessandeducatingthepublic abouttheimportanceofbreastcancerscreeningand earlydetection,workingtoincreasescreeningratesand improveoutcomesforpatients.
Whatarethekeychallengesintheindustryandhoware youturningthemintoopportunitiesforgrowth?
SomeofthekeychallengesthatPrognicaLabsfaces include:
Ÿ Regulatorycompliance:Thehealthcareindustryis heavilyregulated,anditcanbedifficulttonavigate complexregulatoryrequirements,particularlywhenit comestodevelopinganddeployingAI-powered solutions.
I'm the founder and CEO of Prognica Labs, a healthcare technology company that specializes in developing AI-powered solutions for breast cancer detection and treatment.
Here's a brief overview of my professional journey so far:
I'm a serial entrepreneur, author, technocrat and business strategist. I'm also the founder and CEO of Prognica Labs, an artificial intelligencepowered health-tech company. For this I have received numerous awards for his innovations in healthcare.
In addition to my professional commitments, I also give back to the aspiring entrepreneur community by serving as an advisor and mentor
I have published and lectured extensively on healthcare performance improvement, digitalization and innovation, and authored the book: Artificial Intelligence in Breast Cancer Early Detection and Diagnosis, and several research articles published in peer-reviewed journals. I'm also an Advisory board member for a few startups.
Since its inception, Prognica Labs has become a leading player in the healthcare technology industry, with a strong focus on AI-powered breast cancer detection solutions. My leadership and vision have been instrumental in the company's success and I continue to drive innovation and growth, while remaining committed to improving patient outcomes and making healthcare more accessible and affordable for all.
Ÿ Dataprivacyandsecurity:Healthcareprovidersmust complywithstrictdataprivacyandsecurityregulations toensurepatientinformationiskeptconfidentialand secure.Thiscanbeparticularlychallengingwhen workingwithlargeamountsofmedicaldata,asisoften thecaseinthefieldofcancerdetectionandtreatment.
Ÿ Limitedaccesstodata:Whilethereisawealthof medicaldataavailable,itcanbedifficulttoaccessand usethisdataforresearchanddevelopmentpurposes. Thiscanmakeitchallengingtodevelopaccurateand effectiveAI-poweredsolutions.
ToaddressthesechallengesandchartPrognicaLabs' growthupwards,Iaminfusingmyleadershipskillsinthe followingways:
Ÿ Buildingstrongpartnerships:Iamworkingtobuild strongpartnershipswithhealthcareprovidersand organizations,aswellasregulatorybodies,toensure thatPrognicaLabs'AI-poweredsolutionsarecompliant withregulationsandcanbeeffectivelydeployed.
Ÿ Prioritizingdataprivacyandsecurity:Iam committedtoprioritizingdataprivacyandsecurityinall ofPrognicaLabs'productsandservices,workingto ensurethatpatientinformationiskeptconfidentialand secure.
Ÿ Investinginresearchanddevelopment:Iamfocused oninvestinginresearchanddevelopmenttoimprovethe accuracyandeffectivenessofPrognicaLabs'AIpoweredsolutions,eveninthefaceoflimiteddata access.
Ÿ Nurturingacultureofinnovation:Iamworkingto createacultureofinnovationwithinPrognicaLabs, encouragingallteammemberstothinkcreativelyand takeriskstodrivethecompany'sgrowthandsuccess.
Whatarethefuturegoalsofthecompany?Howdoesit envisionscalingupitsoperationsandreachin2023and beyond?
AtPrognicaLabs,ourvisionistotransformbreastcancer detectionandtreatmentthroughthepowerofAI.To achievethisvision,ourfuturegoalsinclude—Expanding ourproductportfolio,increasingourreach,enhancingthe accuracyandeffectivenessofoursolutions,andaddressing newmarkets.
OurgoalistocontinuetoleadthewayinAI-powered breastcancerdetectionanddiagnosis,drivingbetter outcomesforpatientsandtransformingthewaycanceris diagnosedandtreatedaroundtheworld.
Giveusafewtestimonialsorrecognitionthataccurately highlightyourcompany'spositioninthemarket.
PrognicaLabshasreceivedseveralawardsandrecognition thathighlightsitspositionasaleaderinAI-poweredbreast cancerdetectionsolutionswithinthehealthcareindustry. Someoftheseinclude:
Ÿ ArabianBusinessAchievementAward2023inScience andMedicine.
Ÿ WorldEconomicForum2022asGlobalinnovator/ contributorforYouthMentalHealthChallenge
Ÿ EtisalatSMBAward2021forBestArtificialIntelligence Startup.
Ÿ TahawultechTransformationalLeadershipAwards2021 forBestDeploymentofMachineLearningin Healthcare.
Ÿ TahawultechTransformationalLeadershipAwards2019 forTechnologyRisingStaroftheYear
Ÿ RasAlKhaimaBusinessExcellenceAwards2019for BestStartupoftheYear
Cancerisacomplexanddevastatingdisease affectingmillionsofpeopleworldwide.Theearlier weinterveneincancertreatment,thebetterthe resultsforpatients,accordingtoscientificevidence.Priorto thepandemic,therehadbeenasteadydeclineincancerrelateddeathsworldwide,largelyasaresultofbetter screening,earlierdetectionandtreatmentdevelopmentslike personalisedmedicine.Overtheyears,oncologycarehas evolvedsignificantly,withresearchersandmedical professionalsconstantlyseekingnewandinnovativeways tocombatthisdisease.Emergingtherapieshavebeena majordrivingforceinthisevolution,withseveral groundbreakingtreatmentstransformingthelandscapeof cancercare.
Developingnewcancertherapieshasprovidedhopeto millionsofcancerpatients,theirfamiliesandlovedones. Thesetherapieshavesignificantlyimprovedthequalityof
lifeforcancerpatients,offeringbettertreatmentoptionsand longerlifeexpectancy.Moreover,thesetreatmentsare constantlybeingimproved,withnewresearchandclinical trialsleadingtoevenmorebreakthroughsincancercare.
Let's explore the latest advancements in cancer treatment, focusing on emerging therapies that are revolutionizing oncology care!
Wewillexaminethebenefitsofthesetreatments,the conditionstheyarebestsuitedfor,andtheirpotential impactonthefutureofcancercare.Byunderstandingthese emergingtherapies,wecangainadeeperappreciationfor theprogressthathasbeenmadeincancertreatmentandthe promisethatthesetreatmentsholdforthefuture.
Thebody'simmunesystemisusedinimmunotherapy,a typeofcancertreatment,tocombatthedisease.Itfunctions byeithertriggeringtheimmunesystemtoattackcancer cellsdirectlyorbysuppressingthesignalsthatcancercells usetoavoidbeingdetectedbytheimmunesystem. Numerouscancers,includingmelanoma,bladdercancer andlungcancer,haverespondedwelltothistherapy. Comparedtoconventionalcancertherapieslike chemotherapyandradiation,immunotherapyhasanumber ofbenefits,includingbeingmoretargeted,havingfewer sideeffects,andhavingthepotentialtoproducelongerlastingeffects.
Anothercutting-edgecancertreatmentistargetedtherapy, whichfocusesonparticularmoleculesrequiredforthe growthanddivisionofcancercells.Targetedtherapycan stopthegrowthandspreadofcancercellswhilesparing healthycellsbyconcentratingonthesemolecules.Breast cancer,lungcancerandmelanomaarejustafewofthe cancersthatthistherapyhasshownpromiseintreating. Comparedtoconventionalcancertreatments,targeted therapytypicallyhasfewersideeffectsandiswell tolerated.
Anovelandcutting-edgetherapyforbloodcancerslike leukaemiaandlymphomaisCART-celltherapy.Itentails
removingT-cellsfromapatient'sbloodandgenetically alteringthemsotheycanidentifyandcombatcancercells. Afterbeingaltered,theT-cellsareinjectedbackintothe patient'sbloodstream,wheretheycanhuntdowncancer cellsalloverthebody.Clinicaltrialsforthistreatmenthave yieldedastoundinglyhighsuccessrates,withsomepatients achievingcompletecancerremission.AlthoughCART-cell therapyisstillinitsinfancy,ithasthepotentialtoreplace currentstandardtherapiesforspecifictypesofblood cancers.
Genetherapyisanemergingtherapythathasthepotential torevolutionizecancertreatment.Thistherapyinvolves alteringapatient'sDNAtofightcancer.Scientistscanuse genetherapytoeitherreplaceormodifygenesinapatient's cells.Thiscanhelpfightcancerbyeithermakingcancer cellsmoresusceptibletotreatmentorboostingthebody's immuneresponsetocancer.Genetherapyiscontinuingin theearlystagesofdevelopment,butithasshownpromising resultsinclinicaltrials.
Anon-invasivediagnosticprocedurecalledaliquidbiopsy hasthepowertorevolutionizehowcancerisdiscovered andtreated.Thistestinvolveslookingforcancercellsor DNAshardsreleasedbycancercellsinthepatient'sblood. Liquidbiopsycandetectcancerearlyon,trackthedisease's development,andfindmutationsthatmayimpacthowthe diseaseistreated.Althoughthistestisstillinitsearly stagesofdevelopment,clinicaltrialshaveyielded encouragingresults.
Inconclusion,emergingtherapiesaretransformingthefield ofoncologyandofferingnewhopetocancerpatients worldwide.Immunotherapy,targetedtherapy,CART-cell therapy,genetherapy,andliquidbiopsyareexamplesof innovativetreatmentsthatarechanginghowweapproach cancercare.Withcontinuedresearchanddevelopment,we canexpecttoseeevenmoreadvancesincancertreatmentin theyearstocome.Theseemergingtherapiesoffernewtools forhealthcareprofessionalstofightthisdevastatingdisease andprovidehopetocancerpatientsandtheirfamilies.
-PoojaShah
Thefirststepbeforeprescriptionsisanaccurate
diagnosis.Aseasyasthislook,itisn’t;researchers revealanestimatedmortalityrateof40,000to 80,000patientseveryyearduetomisdiagnosis.
Notingthegravityofthischallenge,leadersaroundthe worldareinventingsolutionstoensurehealthcaresystems withtoolsthathelpintheaccuratediagnosisofanyailment andaidthemissionofsavinglives.Theseeffortsaregiven furtherthrustbyadvancementsintechnology,especially withArtificialIntelligence.AIhasprovidedthehealthcare ecosystemwiththeseedsofeffectivediseasediagnosis, amplifiedrateofdrugdiscovery,andmuchmore.
Onesuchcompany,amalgamatingteamworkwith technicalitiesofAIisSynaptiq,whichwascofoundedby DianaAndritchi–theCo-founderandChiefBusiness Officerofthecompany
Synaptiqisimprovingmedicalimagingprocesseswiththe helpofautomationandartificialintelligence.Forthis,ithas alsodevelopeditsuniquesoftware–Mediqthathelps doctorsidentifyanddelineatecanceroustumorsandorgans atrisk.Itisabletoaccuratelydelineateorgansatriskand targetvolumesforallareas,thecontouringhelpingdoctors topreciselydistributedosevolumesofradiation.
Through the interview highlights below, let us dive into the world of Synaptiq and its solutions!
PleasebriefusaboutSynaptiqandtheideasand developmentsthatledtoitsinception.
Synaptiqisastart-upcompanybasedinCluj-Napoca, Romania.Ourmainfieldofactivityisrepresentedbythe developmentofsoftwarebasedonartificialintelligencefor automationandimprovementofimagingprocessesinthe medicalfield
Ourstart-upisformedbyateamoffifteenAIenthusiasts withexpertiseinvariousareas,fromeconomictotechnical backgrounds.Thepartnershipthatstaysatthebasisofour start-upisoneofthecompany’smainassetsandvalues.
Ourcurrentfocusistodeveloprobust,accurateanduserfriendlysoftware,whileestablishingstrongpartnerships, identifyingpotentialcustomers,andbecomingknownon themarket.“Mediq”isthesoftwarewedeveloptohelp doctorsidentifyanddelineatecanceroustumorsandorgans atrisk.
We have set a clear plan. We test our product at our partner radiotherapy clinics, we will gather feedback and improve the product. Moreover, we expect to obtain the certification for our product in 2023 and to acquire customers not only from Europe.
Whatarethekeyproductsandservicesofferedbythe companyandhowisitimpactingthedemographic concerned?
“Mediq”isthesoftwarewedeveloptohelpdoctorsidentify anddelineatecanceroustumorsandorgansatrisk.Weaim toachievethissolutionusingArtificialIntelligence.This technologydistinguishesitselffromtraditionaltechnologies inhealthcarethroughitsabilitytogatherdata,processitin asophisticatedmanner,andgiveacomplexanalysistothe end-user
Oursolutionsatisfiesacrucialneedanditsolvesan importantbottleneckwithinradiotherapytreatment planning.
Theexistingsolutionsonthemarketarehelpfultoradiation oncologists,buttheimportantproblem(thebigamountof timeneededforcontouring)stillremains.Adoctorneeds around4hoursforthecontouring/delineationprocessper patientandtheresultisverysubjective.Inthiscase,a softwarethathasAIatitsbasiscouldcomewithahuge difference.
WiththehelpofAI,tumoridentificationcanbedoneina fractionoftime,withhigheraccuracyandobjectivity.This willspeeduptheprocess,increasingthepatient'ssurvival rate.
Whatarethecorevaluesofthecompany?Howareyou drivingthecompanytoachieveitsmissionandvision statement?
Ourmissionistoempowerradiationoncologiststosave morelives.
Weaimtoachievethispotentialby:
1. UsinguniqueAI-basedsoftwarearchitecture
2. Havingawell-balancedteamofpreparedexperts
3. Establishingstrongpartnershipswithresearchand healthcareinstitutions
Ourcorevaluesare–Teamwork,Passion,Integrity, Innovation
Inyouropinion,howisAIincreasingthesurvivalrates amongcancerpatients?Howisyourcompanyusingthis technologyinuniquewaystodeliverthebestresults?
Nowadays,delineationisgenerallyclinicallyperformed withlittle(ifany)machineassistance,eventhoughitis bothtime-consuming(itcantakeupto4hoursperpatient)
andpronetointerobservervariation(theoverlapbetween contoursmadeby2differentradiationoncologistsrarely exceeds75%).
Inordertoachievefasterradiotherapytreatmentswhile avoidingpotentialerrors,itisimperativetomaketumor identificationanddelineationlesssubjectiveandobserverdependent.
Thegroundbreakinginnovationappearstogetherwiththe possibilityofhavingasoftwareassistantthatyoucanteach thesamewayyouwouldteachastudent.MachineLearning algorithmsdoexactlythat.Theymimicthelearningprocess ofhumansbymakinguseofpriorinformationinferred frommanyprevioususecases.Atthesametime,theyare alsocapableoflearningthealgorithmicbehavioroftheir lessintelligent,butworthypredecessors.
Beingabletomakeuseofthisnewlearningparadigmthey canaccesspriorclinicalexpertisebytrainingonhuge amountsofmedicaldata.Givenaccesstoperformant hardware,DeepNeuralNetworkcanlearnindayswhat wouldtakeusyears.
WedevelopthesoftwareusingAI(MachineLearning algorithms).ArtificialIntelligenceisasolutionthatcould helpdoctorsmakemoreinformedclinicaldecisions regardingpatients.Moreover,AIcanprocessimagesand patienthealthrecordswithmoreaccuracyandexpediency thanhumansarecapableof,lesseningphysicianworkload, reducingmisdiagnosis,andempoweringclinicalstaffto providemorevalue.
Whatarethekeychallengesintheindustryandhoware youinfusingyourleadershipskillstoturntheminto opportunitiestochartthecompany’sgrowthupwards?
Healthcareremainsoneoftheleastdigitalizedindustries, leavingroomforhugeopportunitiesthatmanagetofillthis gap.
Mediq is the software we develop to help doctors identify and delineate cancerous tumors and organs at risk.
At Synaptiq, they are a team of 15 innovation enthusiasts. Their awarded physicist CEO transformed his dream into a plan, and gathered a talented team in the pursuit of merging medical analysis with Artificial Intelligence. The idea came to his mind when he was working at the German Cancer Research Center Having discussions with various doctors, he understood what the important bottlenecks in radiotherapy area.
Dragos Duse is the CEO of Synaptiq. He is a Machine Learning expert, an awarded Physicist and a passionate Researcher. He graduated Chief of Physics promotion following a Master in Computational Physics at Heidelberg University. He designed AI algorithms at National Center for Tumor Diseases and German Cancer Research Institute. He gained experience as a computer scientist at Fraunhofer IPA, in Mannheim, Germany. At Synaptiq, he plans to use his knowledge for revolutionizing the Healthcare Industry
To be successful in such an ambitious project, bringing together a highly qualified and passionate team is essential. This is why they constantly study, explore different perspectives and grow their expertise, by attracting the best professionals to join their cause.
First who resonated with this thought was Mihai, back then, researcher at Romanian Institute of Science and Technology. The team then started working on product development and made some progress, but they needed someone to focus on business administration and also to develop a business plan, and raise capital. With this in mind, Roxana and Diana joined the team and started to work on this project They both have master's degrees in business and experience in multinational companies.
When they got their first investment, they decided to further grow their technical team. Three more people joined the cause, with the extraordinary experience behind them. At the moment, they are a team of seventeen passionate people, including six of the best radiation oncologists in Romania. Together their mission is to empower radiation oncologists to save more lives.
Lookingatthenewesttrends,wecanseethatAI engineeringandHyperautomationareusedforsolvingreal businessproblemsandexploitingnewopportunities.We believethatthesecaneasilybetransposedintohealthcare applicationsandbringrealaddedvalue.
AIisgivingmometumtomedicaldiagnosiswithits potentialtoincitedrasticimprovementstohospital processes.Amongthemostpromisingclinicalapplications ofAIis-diagnosticimaging.
ThecombinationofAIwithmedicalimagingwillleadto thetransformationofmodernmedicine.
Asanexperiencedleader,whatadvicewouldyouliketo givetoaspiringentrepreneursandenthusiastswhowish toventureintothecompetitiveindustrythatyouare serving?
Twoimportantlessonswelearnedduringourjourneyare: youneedtoknowthemarket,andyouneedawell-balanced team.
Regardingthefirstlesson,itisreallyimportanttoperforma propermarketresearchbeforestartingtobuildtheproduct (averycommonmistake).
Forthesecondone,theteamalwaysiscrucial,evenmore sowhenthecompanyisveryyoung.We’vereallytriedto bringinanicemixofskillsandexpertisetocoverallofour needs,andhavealwaysprioritizedqualityoverquantity.
Whatarethefuturegoalsofthecompany?Howdoesit envisionscalingupitsoperationsandreachin2023and beyond?
Wehavesetaclearplan.Wetestourproductatourpartner radiotherapyclinics,wewillgatherfeedbackandimprove theproduct.Moreover,weexpecttoobtainthecertification forourproductin2023andtoacquirecustomersnotonly fromEurope.
