Personal contributions deliver the collective challenge values as much as $32 million.
INOVAIT and the Authorities of Canada are investing $10.7 million in seven commercialization-focused tasks that combine machine studying capabilities into image-guided remedy (IGT) applied sciences.
IGT is the apply of utilizing medical imaging to plan, carry out and consider medical interventions, in accordance with INOVAIT, which is a Canadian business community targeted on advancing IGT by means of the mixing of synthetic intelligence (AI), large knowledge and machine studying.
The businesses behind every challenge embrace Molli Surgical, IllumiSonics, Radialis, MIMOSA Diagnostics, Profound Medical and Oncoustics, which every have tutorial or non-public companions of their tasks. INOVAIT's contributions to every challenge ranged from practically $740,000 to just about $2 million.
The seven funded tasks are a part of INOVAIT's Focus Fund program and had been evaluated primarily based on their potential impression on innovation, healthcare and financial improvement. The non-public companions concerned within the tasks are investing a collective quantity of $21.three million, bringing the entire funding quantity to $32 million.
“Canada has large energy within the analysis and improvement of medical imaging and AI applied sciences,” INOVAIT co-executive director Kullervo Hynynen mentioned in a press release. “We have to seize this chance and leverage each of our strengths to advance applied sciences that may enhance scientific outcomes and healthcare effectivity.”
INOVAIT's largest dedication went to the Toronto-based Molli Surgical challenge, together with Markham, Ont.-based medical gadget improvement companion Sonele, which acquired practically $2 million to work on ultrasound tumor localization utilizing a mannequin of AI-based detection.
IN CONNECTION WITH: Ottawa firms obtain FedDev funding for AI, semiconductors, biotech work
Toronto-based Oncoustics, together with its companion College Well being Community, acquired the same quantity of funding. The startup goals to take away a bottleneck within the scientific analysis of non-alcoholic fatty liver illness, which has a label limitation for sufferers rated above 32 on the physique mass index scale, to present BMI sufferers better entry to repeat exams and therapy monitoring. Final yr, Oncoustics was considered one of two Canadian members chosen to affix Google's cloud accelerator for North American startups.
Halifax-based MIMOSA Diagnostics was awarded slightly below $740,000 to implement a cell multispectral imaging device for nurses. The device is meant to evaluate and deal with individuals who have, or are vulnerable to creating, energetic strain sores, comparable to strain sores.
Different tasks embrace Kitchener-Waterloo's IllumiSonics, which seeks to optimize and generate coaching knowledge for most cancers analysis; Montreal-based Rogue Analysis, which makes use of machine studying for non-invasive mind stimulation to deal with a wide range of psychiatric and neurological situations; Thunder Bay's Radialis, which is creating a PET imaging methodology that makes use of a decrease dose of radiotracer; and Mississauga's Profound Medical, a startup seeking to apply AI to the screening and therapy of sufferers utilizing transurethral ultrasound ablation, a therapy for prostate most cancers.
INOVAIT was based by the Sunnybrook Analysis Institute and is supported by the Authorities of Canada's Strategic Innovation Fund.
Presentation picture courtesy of INOVAIT.