AI startup FathomX from Singapore has raised SG$2.24 million ($1.6 million) from an undisclosed investor within the lead-up to its Collection 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 device referred to as FxMammo.
The screening resolution has been discovered to be extremely correct in detecting most cancers in dense breasts amongst Asian girls. Additionally it is in a position to scale back false positives for interval cancers, or cancers which are identified in between routine screening episodes. Moreover, it enhances medical workflow by decreasing screening time and workforce.
The startup is carefully working with the Diagnostics Growth Hub of Singapore’s Company for Science, Know-how and Analysis and Hewlett Packard Enterprise to develop FxMammo into software program as a medical machine.
WHAT IT’S FOR
Its recent 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 business collaborations.
MARKET SNAPSHOT
South Korean startup Lunit is at the moment main the AI diagnostic area in APAC. It additionally gives an AI mammography help device, Lunit INSIGHT MMG, which analyses mammograms with 96% accuracy. It not too long ago unveiled a brand new digital breast tomosynthesis device 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 not too long ago launched its personal AI breast most cancers screening resolution referred to as WRDensity, which was given an FDA 510(ok) clearance in 2020. It makes use of AI to ship knowledge on breast density, which is a threat issue for breast most cancers. New Zealand-based Volpara Well being is one other firm that has obtained the identical US FDA approval for its breast most cancers detecting platform, Volpara Imaging Software.
