Over the years, Artificial Intelligence (AI) has shown remarkable progress in image-recognition tasks, allowing machines to better represent and interpret complex data. To date, AI has led to significant advances in numerous applications like self-driving cars, e-commerce, medical field, and countless more.
Talking about the medical field, Artificial Intelligence in radiology is flourishing. Traditionally, in radiology, qualified physicians assess medical images to detect and monitor diseases. Blending AI into radiology helps improve the accuracy of imaging reads, provides a quantitative assessment of radiographic characteristics, and supports adequate and timely patient care.
Gets €2.1 million grant
Based out of Rotterdam, Quantib, the market leader in AI solutions for radiology, is one such startup. In the latest development, the Dutch company announced its selection by the European Innovation Council (EIC) Accelerator fund for a €2.1 million grant, bringing total funding to over €12 million to date.
The grant comes from the €80 billion Horizon 2020 fund, which aims to back ‘breakthrough discoveries. The company’s promising prostate solution merited the selection. As per the company claims, Prostate cancer represents one in four of all cancer cases, yet accuracy, speed, invasiveness, and cost remain obstacles in diagnosis and eventual treatment.
Aims to assist medical centres worldwide
The EIC Accelerator grant will support Quantib to further develop its prostate solution which addresses these challenges, and to scale the solution to assist medical centres in the EU, US, and eventually, worldwide.
With prostate cancer’s cost on medical systems in the EU totalling €9 billion annually and lifetime care of metastatic prostate cancer patients reaching €240,000, there is a tremendous potential impact in improving the status quo.
Arthur Post Uiterweer, CEO of Quantib, said, “Quantib’s selection for a €2.1 million this Horizon 2020 grant is a major vote of confidence in the potential we have to further develop and scale a first of its kind AI solution for radiologists. We are already trusted by some of the world’s leading medical centres for solutions addressing key pathologies, but with this new funding, we will not only be able to develop another effective solution, but we will also be well en route to becoming the market leader in addressing a major form of cancer.”
Quantib was previously funded by Holland Capital, Innovation Quarter, and a series of EU and national grants and credits.
Uses state-of-the-art AI techniques
Founded by Arthur Post Uiterweer, Jorrit Glastra, and Rudolf Scholte in 2012, Quantib’s AI radiology solutions enable faster and more accurate diagnosis by quickly identifying abnormalities. The company’s current products and development focus on neurodegeneration, prostate cancer, and breast cancer.
Main image credits: Quantib