Report
Teaser, summary, work performed and final results
Periodic Reporting for period 1 - iBILD (iBILD: Imaging Biomarker for Intelligent Lung Cancer Detection)
Teaser
Optellum’s vision is to enable earlier and better cancer diagnosis and treatment, by using Artificial Intelligence platform called Digital Image Biomarker (DIB) to unlock new insights in huge medical image databases. Optellum’s first target is lung cancer, the most common...
Summary
Optellum’s vision is to enable earlier and better cancer diagnosis and treatment, by using Artificial Intelligence platform called Digital Image Biomarker (DIB) to unlock new insights in huge medical image databases.
Optellum’s first target is lung cancer, the most common and deadliest of cancers. Lung cancer kills 1.8M p.a. world-wide, growing especially rapidly in Asia (Error! Reference source not found.) and amongst women. In the EU, lung cancer is the most lethal and 2nd (3rd) commonest in men (women) and costs an estimated €18.8B p.a.
Optellum has researched the marketing and commercial feasibility of Lung Virtual Biopsy, a software application based on the DIB, which holds the promise of enabling earlier, more confident and more cost-efficient lung cancer diagnosis. Optellum’s DIB learns malignant/benign appearance patterns not obvious to the eye. DIB is novel and unique in that it simultaneously leverages thousands of features and a database with ground-truth outcomes, to predict a risk score of malignancy from a single Chest CT scan. The Lung Virtual Biopsy software utilizes the existing CT scanner, available in almost every modern hospital, and the existing Chest CT scan, already acquired anyway as a standard of care, hence not adding any extra costs while opening the potential of significantly improved outcomes and cost-savings.
Work performed
This feasibility report comprises Market Analysis, Regulatory Strategy, FTO and IP Strategy, Fundraising Strategy, Evaluation of Prototype Readiness and a preliminary Clinical Study Plan and a full Business Plan.
Based on the results of this study, we have concluded that commercialization of this product is feasible and developed a full business plan. Market analysis has confirmed a vast market with clearly identified target market segments and unmet market needs. Regulatory strategy has been defined that allows market launch in reasonable time. IP Strategy has been defined and is being implemented, creating strong barriers to entry for other companies. Optellum is now working towards securing funding, comprising private investments and grants. The funds will be invested in commercialization and a pilot multi-center clinical study that will demonstrate effectiveness and health economics case in key EU markets.
Final results
The current pathway for lung cancer diagnosis is inaccurate, costly, time-consuming and hazardous to the patient. There is an unmet clinical need for a more accurate, cost-effective and safer solution , which could a) Improve outcomes by better stratification of lung cancer patients b) Improve sustainability of healthcare systems by reducing the cost of lung nodule management c) Help to introduce lung cancer screening programs in Europe in a cost-effective manner.
Optellum is developing a novel solution for early diagnosis of lung cancer, which goes beyond state of the art and will achieve these objectives and help ensure equal access to lung cancer care of highest possible quality to every patient in the EU.
Website & more info
More info: http://www.optellum.com.