An algorithm developed by Aidoc flags potential Covid-19 cases from lung CT scans.Photo Credit: Idok
A startup that builds diagnostic tools for radiologists received a new inflow of funds when it sought to expand its algorithm suite. Tel Aviv-based Aidoc recently raised $66 million in financing led by General Catalyst, bringing the total funds raised to date to $140 million.
The company plans to use the funds to build its artificial intelligence solutions platform and bring it to more experts.
“Our R&D team creates and trains separate algorithms for each pathology we cover. Our development speed has been unprecedented, and the additional funding will allow us to further increase production because Aidoc becomes a tool to help radiologists deal with any situation Comprehensive solutions,” Ariella Shoham, Aidoc’s vice president of marketing, wrote in an email statement.
Since its establishment in 2016, Aidoc has obtained a 510(k) license, of which more than six software tools can flag cases for review by radiologists.Last year, it received a method designed to detect Accidental pulmonary embolism in lung CT scan, Which means it can alert radiologists to possible blood clots in the patient’s lungs, even if the scan is performed for other purposes.
Currently, the U.S. Food and Drug Administration regulates these AI tools as Class II medical devices, which means that they must prove that they are “substantially equivalent” to other devices that will be on the market. But there are still some limitations.recent Review FDA-approved AI devices It shows that most are only retrospective tests, which means that it is difficult to know how well they actually perform when used by clinicians.
As it obtains more regulatory licenses, Aidoc says it is gaining customers.the company Recently started working with radiology partners, A radiology practice group spanning eight states. CEO and co-founder Elad Walach said in a press release that recently, the company has undergone “significant expansion”, including doubling its FDA clearance and quadrupling its customer base.
