Dutch-based Aiosyn bags €2M for AI-based algorithms to help pathologists with clinical diagnostics

Netherlands-based Aiosyn, a startup developing a diagnostics platform that uses AI to support pathologists with accurate and efficient clinical diagnostics, announced that it has raised €2M in a fresh round of funding.

The round was led by Utrecht-based Health Innovations along with Oost NL, an East Netherlands Development Agency, and Eindhoven-based VC firm LUMO Labs. 

Björn Schaap, investment manager of Health at Oost NL, says, “Aiosyn’s platform technology has the potential to push the boundaries within pathology. Making the diagnosis of diseases more accurate, timely, and relevant, increases efficiency and gives the pathologist more time to focus on complex analyses. Therefore, it is my belief that the algorithms the Aiosyn team, a spin-out from Radboudumc, is developing will benefit patients.”

AI algorithms for diagnosing pathology

Pathology is the study of the causes and effects of disease or injury. According to the Dutch startup Aiosyn, various illnesses, including cancer, require pathology to be diagnosed. The evaluation of tissue following a biopsy is frequently included in this. 

Currently, Pathology is transitioning to a digital approach where tissue samples are scanned and evaluated on a computer. This makes it possible to apply AI algorithms to aid in the diagnostic procedure. Pathologists and Aiosyn algorithms will collaborate closely to meet the increased workload and to further improve diagnostic accuracy.

Yvonne Sijm, investment manager at Health Innovations, says, “We believe that digital innovations enable the future of healthcare. Pathology plays an increasingly important role in many patient journeys. The solutions developed by Aiosyn support pathologists in providing high-quality decision-making. Aiosyn prepares the labour-intensive routine pathology tasks so that the pathologist can focus on the more interesting and complex tasks. This way, computational pathology not only makes life easier for pathologists, but it also helps in addressing the scarcity challenges.”

Capital utilisation

Aiosyn claims that the raised funds will help the company to further develop its platform and accelerate the time to market.

In 2021, Aiosyn developed two algorithms as well as set up its certification process. Recently, the company also received ISO:13485 certification, which is a crucial initial step in the development of high-quality AI-based medical devices.

Patrick de Boer, CEO and co-founder of Aiosyn, says, “Aiosyn develops algorithms that work in close synergy with pathologists to improve the digital pathology workflow and clinical diagnostic tasks. With this investment, we can accelerate our first product launch and lay the foundation for the future product roadmap.”

Brief about Aiosyn

Founded in 2021 and led by CEO Patrick de Boer, Aiosyn aims to accelerate the adoption of artificial intelligence in pathology diagnostics and improve the chances of cancer patients globally.

Aiosyn says its primary focus is on creating, integrating, and approving AI solutions for clinical diagnostic assistance for difficult-to-diagnose conditions, including breast and prostate cancer. The startup also provides solutions for businesses in the biotech, pharmaceutical, and diagnostics sectors who want to use AI to enhance their pathological workflows.

The company is a spin-off of the Computational Pathology Group of the Radboudumc in Nijmegen, the Netherlands. This group claims to be one of the leading Digital Pathology and AI teams in the world and is deeply rooted in the pathology practice.

Brief about the investors supporting Aiosyn

Health Innovations invests in startups that make healthcare better without increasing the costs. The firm claims that out of three successive funds, it has invested in more than 30 Dutch healthcare firms. Health insurance providers, banks, healthcare distributors, and the Dutch Ministry of Healthcare are a few of its investors.

Oost NL (East Netherlands Development Agency) is focused on helping local companies achieve sustainable growth, innovation, and internationalisation. The agency acts as a bridge between government, companies and knowledge institutes, and also supports SMEs with risk capital and knowledge, networks, and contacts.

LUMO Labs is an impact-driven multi-stage capital fund focused on AI/Data, Blockchain, Robotics/Drones, IoT, and/or VR/AR. It supports startups from pre-Seed through the Series A round. The Fund includes a two-year venture builder programme to help its portfolio companies in gaining financial success as well as social traction and impact.