Jan. 2020 Newsletter: Quarterly Updates from AI Companies

Dear <<First Name>>,

We hope that 2020 is off to a great start for you!

From 2018 to 2020, the managing partners of Bold Brain Ventures (BBV) have personally invested in several Radiology AI companies. These investments can be eventually be added to the BBV portfolio (read more here). As such, we consider their successes to be our successes, and we are thrilled to share them with you too.

We will be providing a Quarterly Update newsletter with news, study results, and accomplishments from each company so that you can get to know them better and delve deeper into the field of Radiology AI.

Please see below for Q4 of 2019 summaries and other recent updates from six AI companies.

Feel free to reach out to us if you have questions and comments, or if you're interested in collaborating or investing.

Bold Brain Ventures
Robin, Tom, Paige, and Ben

In December 2019, Koios Medical announced results from an evaluation of the company's FDA cleared artificial intelligence medical device software to analyze breast ultrasound images. Koios DS Breast 2.0 is artificial intelligence software designed around a dataset of over 450,000 breast ultrasound images.

Known results are intended to assist physicians in analyzing breast ultrasound images and align a machine learning-generated probability of malignancy. A group of breast radiologists using the second opinion software found cancer detection rates increased while simultaneously reducing false positive biopsy rates up to 20% over the 18 month timeframe.

Read more about the findings here.
Koios Breast Ultrasound Image Study
Bunkerhill is a Y Combinator-backed startup out of Stanford University’s Artificial Intelligence in Medicine and Imaging (AIMI) Center. The founders, Nishith Khandwala and David Eng, organized one of the first ever multi-institutional prospective clinical trials of an AI model (NCT03530098) and are now hoping to enable other researchers to easily clinically validate and deploy their AI models with Bunkerhill. Currently, several prominent institutions are collaborating with Bunkerhill. More information will be available at a future date.

The company is advised by Dr. Curt Langlotz, Dr. Safwan Halabi, Dr. Matt Lungren, Dr. David Larson, Dr. Ross Filice, and Dr. Samir Shah.
 The A.I. Analysis, Inc. Change Detector compares serial head MR imaging studies, spatially registering the image volumes, and presenting changes between “baseline-followup” pairs of volumes as a color-coded overlay indicating what is changing, where, and by how much.

A.I. Analysis Chief Medical Officer Dr. Matthew Kuhn recently conducted a study on image quality using their new Synthetic Enhancement Boost eGad (TM) technology. The study had 3 readers interpret images from 50 patients with known contrast enhancing brain tumors. Each patient was given fractionated dose and imaged as follows: acquire T1-Pre, administer either 1/10, 1/4, 1/3, or 1/2 dose Gd based contrast agent, acquire T1-Post(LowDose), administer the remaining contrast to make full-dose, and acquire T1-Post(HighDose). The low dose images were processed using our eGad technology. The readers were blinded as to whether they were looking at boosted low dose or full dose images. The study found that the low dose eGad images possessed equal or greater image quality compared with full dose images.

Another study was recently conducted with Bracco Diagnostics on a l
arge scale comparison of ProHance® (Gadoteridol) Injection, 279.3 mg/mL and Gadavist® (gadobutrol) Injection in MRI of the brain (the TRUTH study).. A.I. Analysis was accepted to present these findings at the European Society of Radiology in 2020 in Vienna.

Additionally, the company is continuing to develop working relationships with multiple pharma companies, as well as academic collaborations with high profile medical centers.
Bracco announces an upcoming March 2020 presentation by Dr. Matthew Kuhn, CMO of A.I. Analysis
IANN presenting at the AWS Booth at RSNA
Inference Analytics Neural Network (IANN) is an intelligent inference engine that uses deep learning algorithms to interpret and understand complex language used in health reports. IANN also generates language and write its own conclusions based on findings, including suggesting overall impressions to reports.

In Q4 of 2019, IANN received a 2nd Place award in the MedStartr AMIA Pitch IT competition. The company also exhibited at RSNA 2019 and held a joint presentation of their work with the University of Chicago, which was titled Prediction of Imaging Report Impression Sections using Sequence to Sequence Long-Short-Term-Memory Neural Network Model with a Customized Healthcare Narrative Cloud Embeddings (Abstract ID: 19014979). Additionally, their algorithms are now available via the AWS marketplace, and they presented at the Amazon Web Services booth at RSNA.

2019 was a year of key milestones, thought leadership, and brand building for CureMetrix, a company that is developing the next medical generation of medical image analysis for mammography, as it went to market to improve cancer survival rates worldwide. In October, Breast Cancer Awareness Month, CureMetrix was featured in several publications, podcasts and on television with an ABC News feature that captured the attention of consumers as well as the medical community.  

In addition, CureMetrix won the distinction of “Best New Radiology Vendor” for 2019Created by, radiology news and clinical communications experts, the annual awards highlight "the best and brightest in medical imaging."

In December, CureMetrix was highly featured at the Radiological Society of North America (RSNA), the largest radiology conference in the U.S., with clinical and innovation podium presentations, as well as scientific roundtablesIn addition, MD Anderson Cancer Centers shared the “MD Anderson Experience” a well-received presentation that revealed the power of Radiology + CureMetrix AI to reduce false positive rates and increase cancer detection. Overall the conference led to global recognition and relationship building with some of the largest companies in radiology. CureMetrix was also mentioned in a Forbes article called 5 Industries That Are Pushing The Boundaries of Healthcare. 

For the quarter, CureMetrix added Shin Imaging and HaloRx to its expanding client base and completed implementation of Brazilian company DASA. With its first FDA clearance achieved in 2019, CureMetrix has a forecast of $3-5M in revenue for 2020, and the team is already working towards a contract with a large U.S. radiology group that manages fifty clinics – reading 1.5M mammograms annually.

The CureMetrix team at RSNA 2019 with their Minnie award!
Mindshare is the only product cleared for lung diagnostics in markets worth over $500M. In the last quarter they have agreements from customers to adopt with their first revenue. They have also validated that their product, RevealAI, delivers consistent results in multiple population studies (over 5 years of data from systems in the US and Canada) and with the newest ultra-low-dose CT scans. In the coming quarter they expect their first live clinical use and publication of the performance studies.
These investments can be added to the Bold Brain Ventures portfolio at the investment amount initially paid by the managing partners, with no additional cost to investors, when the fund reaches its first close of $1MM and if all Limited Partners agree.

Recent Radiology AI News

FDA finalizes easier rules for CADe software

By Erik L. Ridley,, January 21, 2020

"The U.S. Food and Drug Administration (FDA) has finalized rules that make it easier for developers of computer-aided detection (CADe) software to win regulatory clearance for their products. Certain CADe products can now be classified as class II devices.

Read more on!
A.I. Is Learning to Read Mammograms
-- The New York Times

By Denise Grady, The New York Times, January 1, 2020

"Computers that are trained to recognize patterns and interpret images may outperform humans at finding cancer in X-Rays."

Read more in the New York Times!

How to Invest

Learn more about how to invest in the Bold Brain Ventures fund.

To view a more detailed overview of our investment offering in our Private Placement Memorandum, you can also register as a user on our portal, free of charge. There is no obligation to invest. 

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