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Oncoustics
Oncoustics AI-driven tissue characterization solutions to improve patient outcomes and reduce the overall cost of healthcare
We are thrilled to be part of the INOVAIT Network as we develop our novel AI solutions to advance diagnostics and deliver precision treatments using low-cost, point-of-care ultrasound systems.” - Beth Rogozinski, CEO Oncoustics
TORONTO, ON, CANADA, June 18, 2024 /EINPresswire / -- Oncoustics, a Toronto-based medtech startup that develops advanced AI (artificial intelligence) solutions for low-cost, non-invasive surveillance, diagnostics, and treatment monitoring of diseases with high unmet clinical need, has been awarded the INOVAIT Focus Fund to advance its suite of AI-driven tissue characterization solutions. The resulting products may significantly improve patient outcomes and reduce the overall cost of healthcare by providing easier access to screening, diagnostics and monitoring for earlier interventions, as well as improved treatments for all patients with or at risk of asymptomatic structural liver disease.
“We are thrilled to be part of the INOVAIT network as we develop our novel AI solutions to advance diagnostics and deliver precision treatments using low-cost, point-of-care ultrasound systems,” said Beth Rogozinski, CEO of Oncoustics.“This pan-Canadian effort promotes the future of healthcare that leverages AI to democratize access and improve outcomes.”
Oncoustics, alongside clinical partners at University Health Network (UHN), was awarded this fund to enhance its existing OnX Liver Assessment Solution. The OnX is a software-as-a-medical-device (SaMD) solution that captures and interrogates the raw RF signals from ultrasound to assess structural liver disease. The raw sound signals provide a wealth of information that goes beyond image analysis and enables powerful clinical decision-support tools right at the point of care. The Focus Fund-awarded project is expected to receive up to $2 million CAD to advance Oncoustics' OnX Liver Assessment Solution that's appropriate for high BMI patients and can be used for monitoring treatment response.
“Oncoustics' innovative OnX Liver Assessment Solution is poised to leverage existing imaging data to power transformative AI-driven healthcare results,” said Raphael Ronen, co-executive director of INOVAIT.“We are pleased to support high-impact projects, like Oncoustics', to greatly improve healthcare globally and drive economic development in Canada.”
Oncoustics was one of seven projects selected for Focus Fund investments. Funding for this project was provided in part by INOVAIT through the Government of Canada's Strategic Innovation Fund. This investment advances the whole of the Oncoustics platform and promises a new level of access to care with the benefits of ease of use, accessibility, affordability, and optimizing clinical workflows.
About INOVAIT
INOVAIT is a pan-Canadian network funded by the Government of Canada and hosted at the Sunnybrook Research Institute with the objective of building a truly integrated image-guided therapy ecosystem, fueling continuous innovation that revolutionizes healthcare globally. Through connecting, educating, and investing in the industry's brightest minds and most promising ventures, INOVAIT will support and encourage collaborative development and the integration of artificial intelligence (AI) into medical technologies.
About Oncoustics
Oncoustics ( ) applies AI to raw ultrasound signals to do tissue characterization at point of care for low-cost, non-invasive surveillance, diagnostics, and treatment monitoring of diseases with high unmet clinical needs. The Oncoustics solutions for ultrasound will be submitted for regulatory approval in the United States (FDA 510(k)), Canada (Health Canada medical device license) and the European Union (CE Mark). The OnX Liver Assessment Solution has not been cleared for clinical use and is For Investigational Use Only.
Beth Rogozinski, CEO
Oncoustics
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Ce projet a été financé en partie par INOVAIT dans le cadre du Fonds stratégique pour l'innovation du gouvernement du Canada.
À propos d'INOVAIT
Financé par le gouvernement du Canada et situé à l'Institut de recherche Sunnybrook, INOVAIT est un réseau pancanadien dont l'objectif est de créer un écosystème de thérapie guidée par imagerie véritablement intégré qui favorise l'innovation continue et révolutionne les soins de santé à l'échelle mondiale. Grâce à l'établissement de liens, à la formation et à la réalisation d'investissements au profit des plus brillants cerveaux et des initiatives les plus prometteuses du secteur, INOVAIT soutiendra et stimulera le développement collaboratif ainsi que l'intégration de l'intelligence artificielle (IA) dans les technologies médicales.
Beth Rogozinski
Oncoustics
+1 415-203-6008
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