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With reports suggesting that one in eight women are affected by breast cancer, breast imaging becomes one of the most sought after radiology specialities. However, the diagnosis of this type of cancer is quite challenging as only a meagre 0.5% of mammograms contain the cancerous tissue and 10% of the tests still yield false positives.
Therapixel raises €5M funding
Paris-based medtech startup Therapixel resolves this issue by applying artificial intelligence (AI) to radiology so that radiologists can better diagnose breast cancer. Founded in 2013 by Olivier Clatz and Pierre Fillard, Therapixel has raised €5 million in Series A funding from Omnes and M Capital Partners along with participation from existing investors Région Sud Investissement, IT-Translation and Credit Agricole.
The French medtech startup demonstrated its ability to develop the best AI-based algorithms in the world for breast cancer screening. Therapixel won the DREAM Digital Mammography Challenge in 2017, which is the largest AI competition organised ever with over 1,200 participants and $1.2 million prize reward.
“Therapixel is entering a new and exciting phase,” said Pierre Fillard, co-founder and CEO of Therapixel. “With this financing round and the strengthening of our governance, I am confident that we will continue to attract the best talents and maintain our leadership.”
“Therapixel has proven to be a leader in the field of AI applied to one of the key challenges in cancer screening,” added Sacha Loiseau, Chairman of Therapixel. “I am delighted to join the company at this key moment and to work hand in hand with Pierre and his team to bring value to our shareholders.”
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