Companies developing Artificial intelligence (AI)-enabled solutions have agreed to work with governments to test models both pre- and post-deployment, in a bid to manage the risks around security, safety and societal harms. The landmark agreement was reached at the first AI Safety Summit, held at Bletchley Park, in the U.K.
Quibim SL and Royal Philips NV have teamed up to utilize their artificial intelligence (AI)-enabled solutions to help clinicians deliver faster diagnosis and treatment of patients with prostate cancer. The partnership will see Philips AI-based magnetic resonance (MR) imaging technology integrated into Quibim’s AI based QP-Prostate software, to automate real-time prostate gland segmentation in MR images, and generate meaningful quantitative insights, as well as standardize MRI prostate exam reporting.
Immuone Ltd. raised £2 million (US$2.4 million) to fund expansion of its operations to meet growing demand for its 3D human lung model. The company is hoping that its model will replace animal testing which is not always accurate at predicting the impact of drugs on humans. The funding came from the MEIF Proof of Concept & Early Stage Fund, Mercia’s EIS funds and Pioneer Group.
As more and more artificial intelligence (AI)-based solutions get developed to improve patient care, humans should ultimately remain in control because no AI system will be free from mistakes, said Ha Hong, Chief Artificial Intelligence Officer in Medtronic plc’s Endoscopy unit. “There will be some errors, it is simply not possible to create a system that is 100% error free,” he told BioWorld in an interview.
United Therapeutics Corp. signed an agreement to acquire Miromatrix Medical Inc. for up to $140 million in cash, buying its way into additional organic growth. The deal would add Miromatrix’s comprehensive portfolio of bio-engineered organs to United’s existing organ production platform.
The U.K. government has launched a £100 million (US$122 million) fund that will accelerate the development of artificial intelligence (AI) tools to help tackle some of the biggest challenges in health care.
Hypnovr SAS recent takeover of Oncomfort SA will bring digital therapeutic solutions to a larger patient population suffering from pain and anxiety. Oncomfort has developed Digital Sedation, a non-pharmacological method of relieving patients’ pain and anxiety. This therapy, coupled with Hypnovr’s own virtual reality (VR) solution will help reduce medication use and improve the care pathway for patients undergoing medical procedures.
Sofinnova Partners hauled in $200 million in investment for its digital health fund as investors’ appetite for companies developing solutions for health care using digital technology continues to grow.
Ventric Health Inc. received U.S. FDA 510(k) clearance for its Vivio system, a mobile, non-invasive medical device that can aid in the diagnosis of heart failure. With early diagnosis crucial for treating and managing the condition, Vivio uses advanced algorithms to detect elevated left ventricular end diastolic pressure (LVEDP) in less than five minutes and can therefore improve clinical and health outcomes.
Phasev Inc. has raised $15 million in a funding round that will allow the company to further develop its machine learning (ML) technology that aims to revolutionize clinical trial design, execution and analysis. The funding round was led by Viola Ventures and Exor Ventures and included participation from Lionbird and a group of prominent angel investors.
