Radiobotics
Building tomorrow’s augmented healthcare technology�
Private & confidential
Summary
There is a global shortage of radiologists to cope with the ever growing amount of medical images, which leads to delay in diagnosis and treatment. Not having an expert around, also leads to unnecessary misdiagnosis, a high cost for both patients and hospitals.
Why
We aim to automate analysis and description of routine medical x-ray images at hospitals, with a focus on musculoskeletal radiology (MSk).
What
With hospital partnerships giving access to KOLs and data, we accelerate our algorithm development by using state-of-the-art machine learning methods, combined with deep clinical understanding. The algorithms will be easily integrated into hospital systems, and readily available, only paying per reading.
How
We have an extraordinary team of engineers with domain expertise from working closely with doctors, biomedical research, and medical images - combined with colleagues with experience and expertise from other startups, funding and commercialization within the health-tech industry.
Who
Radiobotics is an award winning Danish startup company, with a focus on developing algorithms for hospitals to automate reading of x-rays of bones and joints. Since incorporation in 2017, Radiobotics has experienced strong traction, having raised a total of $4m to date, grown their team and have their first product CE-marked.
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Building tomorrow’s augmented healthtech
02
Video
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Building tomorrow’s augmented healthtech
We need to find areas where AI can help us save more time - so we can spend it where it's really needed.”
�Mikael Boesen�Professor, MSk Radiologist�Head of Department Bispebjerg Hospital
Private & confidential
The Problem
“
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Building tomorrow’s augmented healthtech
Our Focus: ‘AI in Radiology’
MRI
Ultrasound
X-Ray
CT
Mammography, Chest, etc
We focus strictly on routine MSk x-ray images
Even though it is considered a niche, this is one of the areas where AI will be adopted first, because the case has:
—2020
Building tomorrow’s augmented healthtech
Example of automated reading in PACS
We were CE-marked from 12/12-19
First clinical study performed in January 2020 showed very high agreement with expert msk radiologists (κ=0.9).�
Multicenter study to be performed in Q2 2020 and will be published.��
Can automatically process an x-ray and detect all findings related to osteoarthritis.
Outcome is a visual representation of clinical findings, including a structured text report.
The automated reading saves time and improves consistency and quality, and is aimed for radiology and orthopedic departments.
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Building tomorrow’s augmented healthtech
Philip Hansen, Consultant Radiologist, MD PhD
MSK lead at Bispebjerg Hospitals
Chairman of Muskrad
“The reporting will become more consistent and robust and in the end save us a lot of time”
Professor Anders Troelsen, Consultant Orthopedic Surgeon, Hvidovre Hospital
Chairman of Danish Knee replacement register, Chairman of Research in OsteoArthritis Denmark (CAG ROAD)
“The product has some unique features I can use and it could have substantial influence on quality and pricing of care”
Testimonials
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Building tomorrow’s augmented healthtech
RBshoulder
Development Roadmap of Radiobotics Core Software
RBfoot
RBhand
RBknee
RBhip
RBspine
Radiobotics aims to be the global leading provider of msk x-ray software, and will gradually build our product suite to cover all high volume cases.
We have CE-cleared our first product and will obtain FDA 510k end of 2020.
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Building tomorrow’s augmented healthtech
Customers & Business Model
Hospitals
High volume
General Practice
Lower volume
Teleradiology
Medium volume
Private Radiology Clinics
Lower volume
Partnerships
Business Model & Pricing
Software-as-a-service based on a Licencing agreements based on amount of images.
A typical partner�Would be a PACS or RIS with presence in markets, or OEM with manufacturer, or a local distributor.
Market Size (msk x-rays/year)
DK: 1.5m, Nordics 3m
UK, FR, DE, NL: ~60m
USA: 60m
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Building tomorrow’s augmented healthtech
We cannot do this alone!
Radiobotics is successful in establishing partnerships and attracting grants, leading to close clinical collaborations and access to data and expertise.
We are currently looking to establish partnerships with an American teleradiology company, an American orthopedic clinic, and completing an H2020 application with 8 European leading clinical institutions with a total budget of $16.4M.
Partnerships
Funding
Collaborators
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Building tomorrow’s augmented healthtech
Pavel Lisouski
Co-founder & CTO
M.Sc. Computer Vision & Machine Learning
Pavel has more than 6 years of experience working with Computer Vision and ML systems. He has previous experience in development and R&D management from a global role at CLAAS - a major German agricultural machinery manufacturer - Pavel has also granted multiple patents within automation using camera systems. He is now Co-founder and CTO of Radiobotics, leading research and development and ensuring the development of high-quality products.
Martin Axelsen
Co-founder & CSO
PhD Machine Learning & M.Sc. Biomedical Eng.
�Martin has a PhD in ML in medical data from The Technical University of Denmark and a Master’s in Medicine & Technology and has done external stays at both UCL and University of California San Diego. He is specialised in ML in medical data and particularly in the scientific and clinical validation of these methods. He has worked extensively in the field between ML, computer vision and medical imaging with experience ranging from digital pathology to radiology and computational psychiatry.
Stine Mølgaard Sørensen
Co-founder & COO
Cand. Communications
�Stine has more than 10 years of experience working with new technology, from various international roles, and most relevant is her previous experience from a global digital role at H. Lundbeck – a major Danish Pharmaceutical Company. Stine has founded several start-ups, leading one to a successful Silicon Valley exit, and is now a Co-founder and COO of Radiobotics. Stine is also a partner and co-owner of Nordic Fintech Angels and sits on several boards. Further; she’s a best-selling author with her book “F*ck it, Ship it”.
Mads Jarner
Co-founder & CEO
M.Sc. Biomedical Engineering
Mads is trained as a biomedical engineer with specialization in medical imaging, and has worked as a researcher at Imperial College London before starting Radiobotics. At Imperial he worked at the MSk Lab with orthopedic surgeons researching on optimizing orthopedic implant designs based on objective outcomes. This experience give Mads a deep understanding on both the technical and clinical aspects, being able to communicate with all stakeholders internally and externally.
Meet the founders
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Building tomorrow’s augmented healthtech
Radiologists — ML Engineers — MDs — QMS Manager�PhD Machine Learning — PhD Health Physics
The Extraordinary Team
Currently hiring
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Building tomorrow’s augmented healthtech
2017
2018
2019
2020
Growth & Funding
First prototype
+
Partnerships w/
Hvidovre Hospital & Bispebjerg og Frederiksberg Hospital
Early seed round
$1.55k�
Radiobotics
founded
X-AID project EUROSTARS™
granted $0.33M
+
Bispebjerg og Frederiksberg Hospital
$0.22M
+
SME Instruments 1
$55k
Text report automatisation
Integration test
First hospital
test
Further Data Access
CE-Mark
Innobooster $0.33m
RSNA
On premise
integration at
Danish Hospital
RB core
software
Innovationsfonden $74k
+
Data.pitch
$110k
EIT Health
$60k
Nordic Startup Awards
Best AI/Machine Learning Startup in Denmark
Version 2.0 RBknee
Wellbeing partnership
EIC Accelerator soft funding $1.5M
Total raise to date:�$4M�
TMCx Cohort
510k
RBhip
New funding round
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Building tomorrow’s augmented healthtech
Winner of
Best AI/Machine Learning Startup �in Denmark 2019 ��Nordic Startup Awards �2019
Historically the highest-rated project �under the EUROSTARS H2020 programme ever��Eurostars�Evaluation report
Received 1.5M USD in soft-funding from EU to conduct multicenter clinical trials ��EIC Accelerator, Horizon 2020 �2020
Private & confidential
Highlights
—2020
Building tomorrow’s augmented healthtech
17�Thank you!
Contact
COO & Co-founder Stine Mølgaard Sørensen at stine@radiobotics.com
�
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Building tomorrow’s augmented healthtech