Endoscopy enables gastroenterologists to examine the digestive tract and look for precancerous polyps. Startup Iterative Scopes is developing technology to improve this process using artificial intelligence-driven analysis. Earlier this year, Eli Lilly used this work as a partner Interested in applying this system to its inflammatory bowel disease research.
The Iterative Scopes technology is still in clinical testing, but Lilly sees enough hope to acquire equity in this Cambridge, Massachusetts-based startup.This pharmaceutical giant is one of the investors 30 million USD in Series A financing Funding announced on Tuesday.
Endoscopy has a long history in clinical practice, but Iterative Scopes stated that the images produced by the procedure need to be evaluated by the clinician, which may lead to wide differences in interpretation. The first product candidate of Iterative Scopes, SKOUT, is an AI-assisted polyp detection algorithm applied to computer vision, which is an area where advanced insights can be obtained by analyzing images and videos. SKOUT aims to provide clinicians with a way to identify clinical features on the mucosal surface, such as polyps.
CEO and founder Jonathan Ng said in an email that for polyp detection, SKOUT aims to interoperate with existing endoscope hardware. SKOUT technology is currently being tested in a clinical trial to support medical devices submitted by the FDA seeking regulatory approval. The study is expected to end at the end of this month.
Ng said: “Despite the headwinds of the pandemic, we were pleasantly surprised by the clinical adoption and use of our polyp detection algorithm during clinical trials.” “We are expected to submit our evidence package to the FDA soon.”
Ng founded Iterative Scopes in 2017, when he was still studying at the Massachusetts Institute of Technology and Harvard University as a graduate student. Iterative Scopes is a derivative product of MIT. In addition to helping gastroenterologists in clinical practice, the company’s technology is also positioned as a way to help drug developers accelerate clinical trials. The range of iteration has been extended beyond polyp identification. Ng said the technology can analyze colonoscopy videos to identify more than a dozen different clinical features that are applicable to more complex and chronic diseases, such as inflammatory bowel disease.
The selection of IBD studies is usually determined by the severity scoring system, which is also used as the primary and secondary endpoints of the trial. According to Iterative Scopes, as in the case of polyp identification, scoring based on these systems is also based on the experience and intuition of individual doctors, so scoring is very subjective.
The company has expanded its technology beyond polyp identification. Ng said that the software can analyze colonoscopy videos to identify more than a dozen different clinical features suitable for more complex and chronic diseases, such as inflammatory bowel disease. The application of this technology for patient selection in clinical trials does not require FDA approval, and Eli Lilly is now using the software to select patients for its clinical studies. Ng added that Iterative Scopes is discussing the use of AI-derived disease severity endpoints with other pharmaceutical companies and regulatory agencies for inclusion in clinical trials and regulatory decisions.
Last year, Iterative Scopes raised $5.2 million Seed round financing It was later expanded to $13.5 million. The A round of funding announced on Tuesday was led by Obvious Ventures, a new investor in the startup. With Lilly’s investment, Lotus Mallbris, vice president of immunology development at the pharmaceutical company, will join the Iterative Scopes board of directors. Other investors in Series A financing include Johnson & Johnson Innovations-JJDC, Breyer Capital and Seae Ventures, as well as individual investors Lee Shapiro, Zach Weinberg and Nat Turner. Iterative Scopes said that the new funds will be used to further develop the company’s algorithms and advance the business.
Photos of the iteration range
