Enlitic said it raised a $10 million Series B round from Australian radiology service provider Capitol Health (ASX:CAJ) for its “deep learning” medical diagnostics platform.
San Francisco-based Enlitic’s secret sauce is an algorithm designed to synthesize enormous amounts of data, learning about it as it goes. The deal with Capitol Health gives Enlitic access to radiology data across all modalities (ultrasound, CT, MRI, PET and X-Ray); Enlitic claims its algorithm learned to “automatically detect lung cancer nodules in chest CT images 50% more accurately than an expert panel of thoracic radiologists.”
In bone fractures, the company claimed a breakthrough in detection of wrist fractures with a prediction accuracy score of 0.97 AUC (in which a score of 1 indicates perfect accuracy), compared with 0.85 AUC for “leading” radiologists and 0.71 AUC for traditional computer vision approaches.
“The vast digitization of medical information – from images to lab tests to patient histories – along with recent breakthroughs in deep learning, has created by far the biggest opportunity that I have seen in more than 20 years in the field,” founder & CEO Jeremy Howard said in prepared remarks. “Enlitic’s new partnership with Capitol allows us to start realizing the vast potential of deep learning in healthcare on a global scale.”
“Enlitic will forever change the way radiology and all of medicine is practiced,” added Capitol Health clinical director Dr. Anthony Upton. “In the urban setting, it will improve accuracy and efficiency to deliver optimum patient outcomes. Globally, it will deliver healthcare to populations that have none.”
“We believe that healthcare systems worldwide will embrace technology that delivers more effective results for patients,” Capitol Health managing director John Conidi said. “This collaboration is a world 1st – something ushering in a new age of data-driven medicine – with outstanding clinical outcomes and efficiency benefitting Capitol Health radiologists, referrers, patients and shareholders.”