Quantib, a Dutch medtech startup applying artificial intelligence to radiology, has received a €2.1 million grant from the European Innovation Council (EIC) Accelerator fund for a new diagnostic approach to prostate cancer.
The healthtech startup’s AI software helps analyse medical images so that doctors can more quickly detect and diagnose any abnormalities. The software has already been applied to other forms of cancer, and Quantib says the application to prostate cancer, specifically, could be the first of its kind in the world.
“Quantib’s selection for a €2.1 million this Horizon 2020 grant is a major vote of confidence in the potential we have to further develop and scale a first of its kind AI solution for radiologists,” says Arthur Post Uiterweer, the startup’s CEO. “We are already trusted by some of the world’s leading medical centers for solutions addressing key pathologies, but with this new funding, we will not only be able to develop another effective solution, we will also be well en route to becoming the market leader in addressing a major form of cancer.”
In a press release, the company cited that the cost of prostate cancer on medical systems in the EU totals €9 billion annually. For patients who are diagnosed, lifetime care of metastatic prostate cancer can reach €240,000. Quantib believes its AI solution can reduce costs while improving patient outcomes.
The Horizon 2020 grant brings Quantib’s total funding to over €12 million to date. Based in Rotterdam, the startup has been previously funded by Holland Capital, Innovation Quarter (a regional economic development agency for South Holland), as well as a series of EU and national grants and credits.
Photo: Quantib team