Daniel from Improve Press
AI startup FathomX from Singapore has raised SG$2.24 million ($1.6 million) from an undisclosed investor within the lead-up to its Sequence A funding spherical.
This follows its seed funding spherical in April final yr the place it raised SG$500,000 (over $350,000).
WHAT IT DOES
A spin-off from the Nationwide College of Singapore and the Nationwide College Well being System, FathomX gives an AI-powered mammography help software referred to as FxMammo.
The screening answer has been discovered to be extremely correct in detecting most cancers in dense breasts amongst Asian ladies. Additionally it is in a position to scale back false positives for interval cancers, or cancers which can be identified in between routine screening episodes. Moreover, it enhances scientific workflow by lowering screening time and workforce.
The startup is intently working with the Diagnostics Improvement Hub of Singapore’s Company for Science, Expertise and Analysis and Hewlett Packard Enterprise to develop FxMammo into software program as a medical gadget.
WHAT IT’S FOR
Its contemporary funding will assist speed up the tempo of its product improvement and its acquisition of regulatory approvals. Furthermore, the funding will help its ongoing multi-site validation research for FxMammo throughout eight markets in Asia-Pacific, in addition to facilitate extra analysis and industrial collaborations.
MARKET SNAPSHOT
South Korean startup Lunit is at present main the AI diagnostic area in APAC. It additionally gives an AI mammography help software, Lunit INSIGHT MMG, which analyses mammograms with 96% accuracy. It just lately unveiled a brand new digital breast tomosynthesis software which accelerates the studying course of by selecting a 3D slice picture with suspicious lesions amongst a number of photos.
One other startup, Whiterabbit, has additionally just lately launched its personal AI breast most cancers screening answer referred to as WRDensity, which was given an FDA 510(okay) clearance in 2020. It makes use of AI to ship knowledge on breast density, which is a danger issue for breast most cancers. New Zealand-based Volpara Well being is one other firm that has acquired the identical US FDA approval for its breast most cancers detecting platform, Volpara Imaging Software program.
