Central regions | Finance, business | Technology & innovation

Artificial intelligence for medical diagnostics gets VC backing

7 Sep '17
Primer Capital, a Russian VC fund focused on biomed, has invested more than $180,000 in a software platform by TeleMD, a domestic start-up that uses artificial intelligence (AI) for cancer diagnostics and prognostication.

The start-up is reported to have plans to use the money to fine-tune the platform’s image recognition functionality for cancer diagnostics, and also to make the solution scalable for medical specialists from across disciplines to be able to analyze heterogeneous medical data. Sergei Sorokin, the TeleMD project leader, is hoping his platform will soon be marketed as “both a cloud-based solution and a self-contained software product.”

TeleMD is designed to enable physicians to diagnose and predict oncologic developments in complicated cases by analyzing medical images and other patient-specific data. With the solution, doctors may expect to be able to reach out to broader medical communities and get remote advice. TeleMD is reported to have developed its diagnostics criteria and algorithms in close collaboration with experts from the Moscow-based Russian Blokhin Research Center for Oncology and some other leading scientific hubs and clinical centers.

Primer Capital has a notably long history of backing advanced biomed projects. Just recently, it invested in the development of a drug candidate by Russian company Hemopharm to help multiple myeloma patients. Last year alone, the VC fund supported TsSB Genomics, a genomics solutions developer, FK Laboratories developing anti-thrombosis drugs, and a range of other start-ups.
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