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DeepTrace Technologies: 1.7 million round for AI-based radiological imaging startup

A new round of financing was opened for the spin-off of Istituto Universitario di Studi Superiori (Iuss of Pavia), DeepTrace Technologies, which has developed over ten predictive models that process diagnostic imaging with speed and accuracy. The investment round will allow the startup to obtain CE certification for its proprietary medical devices and expand the spectrum of diseases covered by the application.

Anthony Donaghue

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DeepTrace Technologies is an innovative startup, a spin-off of the Istituto Universitario di Studi Superiori (Iuss of Pavia), which operates in the field of artificial intelligence, combining it with medical imaging in order to make diagnoses and prognoses in a more accurate, faster and predictive way. Thus saving time which, in certain circumstances and conditions, can be extremely precious. 

The Progress Tech Transfer fund launched last year by Mito Technology has subscribed the first round of investment for $2 million (€1.7 million), acquiring a minority share, assisted by Klecha & Co as financial advisor.

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But what does DeepTrace do? 

Founded in 2018, but based on research work rooted at least in 2015, the startup has developed a radiological image analysis system based on the use of AI that improves the speed of screening, the quality of diagnosis and allows to modulate the most suitable therapy for the patient.

A solution that integrates the work of medical specialists and specialized technicians and makes it possible to predict the risk of the onset of the disease, its evolution and the possible poor response to a given therapy, thus reducing consequent healthcare costs and avoiding invasive medical tests, ineffective treatments and unnecessary care.

“The company’s approach, based on data analytics and personalized predictive medicine, enables the delivery of highly efficient, low-cost and limited-risk medical devices,” reads a note from Klecha, a private pan-European investment bank specializing in the technology, software, IT services, hardware and IoT sectors. “In less than three years, DeepTrace Technologies has developed more than 10 predictive models for various diseases, including Alzheimer’s, for different types of carcinoma and for viral diseases including, most recently, Covid-19.

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The model for Covid-19 interstitial pneumonia

The company has in fact developed last spring, and in a few weeks thanks to the collaboration with a group of clinical researchers from the University of Milan Bicocca, the State University of Milan, CNR, IRCCS Policlinico San Donato and San Gerardo Hospital in Monza, a method to recognize the presence of interstitial pneumonia caused by coronavirus on the basis of a normal digital X-ray of the patient. 

A method developed by training the proprietary platform Trace4 to identify and recognize the features that differentiate the radiographic images of the lungs of individuals affected by Covid-19 from those with similar symptoms. The advantages lie in the rapidity of response, low cost and maximum versatility, as in other types of diseases.

The company aims to obtain European certification for its devices

The investment round will allow the startup, led by CEO Christian Salvatore, to obtain CE certification for its proprietary medical devices and expand the spectrum of diseases covered by the application. Not only that: a part of the resources will be dedicated to the improvement of the analysis software with the aim of making it even more complete and customizable, allowing customers to take advantage of it as much as possible.

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(Featured image by auxamlech via Pixabay)

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First published in Smartmoney, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Anthony Donaghue writes about science and technology. Keeping abreast of the latest tech developments in various sectors, he has a keen interest on startups, especially inside and outside of Silicon Valley. From time to time, he also covers agritech and biotech, as well as consumer electronics, IT, AI, and fintech, among others. He has also written about IPOs, cannabis, and investing.

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