Medtronic (NYSE:MDT) said yesterday that it launched the GI Genius endoscopy module for detecting colorectal polyps in the treatment of colorectal cancer.
The GI Genius is designed to use artificial intelligence to highlight pre-cancerous lesions with a visual marker, something Medtronic said can increase colorectal polyp detection rates. The Fridley, Minn.-based company said it is the first system of its kind worldwide for detecting colorectal polyps.
Medtronic said that in order to launch the GI Genius, it entered into a worldwide distribution agreement with Cosmo Pharmaceuticals. Cosmo manufactures the GI Genius and its AI software.
The GI Genius system has CE Mark approval and is available in select European markets. However, it has not yet won FDA clearance for commercialization in the U.S.
“Medtronic is focused on preventing colorectal cancer by early detection of pre-cancerous polyps with AI-assisted technologies,” VP & GM of Medtronic’s gastrointestinal & hepatology business Giovanni Di Napoli said in prepared remarks. “The GI Genius module automatically detects polyps, including small flat polyps that may go undetected thus increasing accuracy and reducing the risk of interval cancers which can occur between colonoscopies.”
“One of the key factors to maximizing the prevention of colorectal cancer is the integration of advanced technologies like artificial intelligence into daily practice,” added Humanitas Hospital (Milan) head of gastroenterology Dr. Alessandro Repici. “The use of artificial intelligence in gastroenterology ushers in a new era of diagnostic endoscopy that can improve the quality of colonoscopies. In my experience, the GI Genius module can be extremely precise in identifying lesions in the colonic mucosa that can be difficult to detect and may have been missed. This change in daily practice has the potential to improve diagnosis and overall outcomes for patients that may have colorectal cancer.”
Shares of MDT were down -0.1% at $108.37 per share in mid-morning trading today.
