Zurich (Switz\u00ader\u00adland) \u2014 b\u2011rayZ AG, a spin-off of the Univer\u00adsity Hospi\u00adtal Zurich (USZ) based in Schlie\u00adren (Switz\u00ader\u00adland), has closed an over\u00adsub\u00adscri\u00adbed Series A finan\u00adcing round of over four million Swiss francs with leading inves\u00adtors from the life scien\u00adces and IT sectors. The finan\u00adcing round was led by LifeCare Part\u00adners, Prot\u00adagon AG and Conver\u00adgence Part\u00adners and supported by the Ecken\u00adstein-Geigy Foun\u00adda\u00adtion, the Swis\u00adspre\u00adneur asso\u00adcia\u00adtion and seve\u00adral private inves\u00adtors. \u2014 Cancer diagno\u00adstics should thus be signi\u00adfi\u00adcantly impro\u00adved with AI technology.<\/p>\n
Foun\u00added in 2019 by Prof. Dr. Dr. Andreas Boss (senior physi\u00adcian at USZ Radio\u00adlogy), Prof. Dr. Cris\u00adtina Rossi (data analyst and MR physi\u00adcist) and PD Dr. Alex\u00adan\u00adder Cirit\u00adsis (AI medi\u00adcal scien\u00adtist and data analyst), b\u2011rayZ is deve\u00adlo\u00adping a unique and revo\u00adlu\u00adtio\u00adnary AI-based plat\u00adform to assist radio\u00adlo\u00adgists in the early detec\u00adtion of breast cancer. The b\u2011box system from b\u2011rayZ has a CE mark and is used commer\u00adci\u00adally in leading breast centers in Europe. With the funds from the Series A round, b\u2011ray\u2011Z intends to expand distri\u00adbu\u00adtion in addi\u00adtio\u00adnal Euro\u00adpean markets and achieve FDA appr\u00adoval for the United States. It also plans to deve\u00adlop new products for gyneco\u00adlo\u00adgists and radio\u00adlo\u00adgists based on its proprie\u00adtary AI platform.<\/p>\n
AI from b\u2011rayZ revo\u00adlu\u00adtio\u00adni\u00adzes radio\u00adlo\u00adgi\u00adcal diagnostics <\/strong><\/p>\n Low image quality and inade\u00adquate diagno\u00adsis in dense breast limit radio\u00adlo\u00adgists\u2019 ability to diagnose breast cancer at a very early stage. b\u2011rayZ has deve\u00adlo\u00adped an AI-based plat\u00adform that supports the daily work of radio\u00adlo\u00adgists in mammo\u00adgra\u00adphy by asses\u00adsing image quality and breast density in real time. Cris\u00adtina Rossi, CEO and co-foun\u00adder of b\u2011rayZ comm\u00adents, \u201cOur AI tech\u00adno\u00adlogy helps to signi\u00adfi\u00adcantly improve the quality of breast cancer diagno\u00adstics by analy\u00adzing mammo\u00adgrams in real time. The next gene\u00adra\u00adtion product enables auto\u00adma\u00adtic detec\u00adtion of early-stage lesi\u00adons on mammo\u00adgra\u00adphy and ultra\u00adsound, which are often missed or misdia\u00adgno\u00adsed in breast cancer pati\u00adents. Our easy-to-imple\u00adment AI plat\u00adform is not only suita\u00adble for all imaging moda\u00adli\u00adties in breast cancer, but also for all onco\u00adlogy appli\u00adca\u00adti\u00adons in radiology.\u201d<\/p>\n Every 14 seconds, a pati\u00adent is diagno\u00adsed with breast cancer<\/strong><\/p>\n In 2020, more than 2.3 million women world\u00adwide were diagno\u00adsed with breast cancer and 685,000 of them died from it. \u201cEvery 14 seconds, a woman is diagno\u00adsed with breast cancer some\u00adwhere in the world. Since 2008, the global inci\u00addence of breast cancer has increased by more than 20% and, regrett\u00adably, the morta\u00adlity rate has increased by 14%. With our plat\u00adform, we can save thou\u00adsands of lives through the earliest possi\u00adble diagno\u00adsis and subse\u00adquent support in the selec\u00adtion of a perso\u00adna\u00adli\u00adzed therapy,\u201d Cris\u00adtina Rossi contin\u00adued. The b\u2011rayZ system not only enables quality-control\u00adled mammo\u00adgra\u00adphy to signi\u00adfi\u00adcantly reduce late diagno\u00adses, but also saves more than 25% time in the process and nearly 50% of previous quality assu\u00adrance costs. The effec\u00adti\u00adve\u00adness of b\u2011rayZ\u2019s deep lear\u00adning algo\u00adrithms in daily diagno\u00adstics has alre\u00adady been clini\u00adcally proven with more than 35,000 pati\u00adents successfully exami\u00adned by leading radiologists.<\/p>\n \u201cWhen we met the team at b\u2011rayZ, we were imme\u00addia\u00adtely won over by their exper\u00adtise and tech\u00adno\u00adlo\u00adgi\u00adcal approach. The deve\u00adlo\u00adped AI plat\u00adform is suita\u00adble for rapid and cost-effec\u00adtive diagno\u00adsis of a wide range of cancers. In addi\u00adtion, we are abso\u00adlut\u00adely fasci\u00adna\u00adted by b\u2011rayZ\u2019s unique capa\u00adbi\u00adli\u00adties to create a revo\u00adlu\u00adtio\u00adnary virtual market\u00adplace for the exch\u00adange and preser\u00adva\u00adtion of radio\u00adlo\u00adgi\u00adcal know\u00adledge and exper\u00adtise. We are convin\u00adced of the long-term success of the b\u2011rayZ soft\u00adware plat\u00adform as well as the highly expe\u00adri\u00aden\u00adced and enthu\u00adsi\u00ada\u00adstic manage\u00adment team,\u201d adds Dr. Gerhard Ries, Mana\u00adging Part\u00adner of LifeCare Part\u00adners<\/strong>.<\/p>\n \u201cb\u2011rayZ is beco\u00adming an emer\u00adging leader in AI-powered cancer diagno\u00adstics and work\u00adflow SaaS. What sets the company apart from many compe\u00adti\u00adtors is its deep clini\u00adcal back\u00adground and exclu\u00adsive access to high-quality data. The SaaS plat\u00adform will enable impro\u00adved cancer care and help reduce the cost of diagno\u00adsis and therapy,\u201d added Mikael von Euw <\/strong>(photo \u00a9 Conver\u00adgence Part\u00adners), deal lead at Conver\u00adgence Part\u00adners<\/strong>. About b\u2011rayZ About Conver\u00adgence Part\u00adners AG About LifeCare Part\u00adners GmbH About Prot\u00adagon AG Zurich (Switz\u00ader\u00adland) \u2014 b\u2011rayZ AG, a spin-off of the Univer\u00adsity Hospi\u00adtal Zurich (USZ) based in Schlie\u00adren (Switz\u00ader\u00adland), has closed an over\u00adsub\u00adscri\u00adbed Series A finan\u00adcing round of over four million Swiss francs with leading inves\u00adtors from the life scien\u00adces and IT sectors. The finan\u00adcing round was led by LifeCare Part\u00adners, Prot\u00adagon AG and Conver\u00adgence Part\u00adners and [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":45507,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1366,1369,1373],"tags":[],"class_list":["post-45509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-news-en","category-investors","category-venture-capital-en"],"yoast_head":"\n
\n\u201cWe inves\u00adted in b\u2011rayZ because we believe the importance of digi\u00adtal health is growing globally, they have one of the best AI teams in the world, but also because they have such a deep under\u00adstan\u00adding of radio\u00adlogy and the clini\u00adcal vali\u00adda\u00adtion requi\u00adred to usher in this new era of cancer diagno\u00adsis,\u201d explains Seve\u00adrin Weiss, Chair\u00adman and foun\u00adder of Prot\u00adagon AG<\/strong>.<\/p>\n
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\nIncor\u00adrect breast cancer diagno\u00adses due to human error harm pati\u00adents, expose physi\u00adci\u00adans to high liabi\u00adlity risk, and increase health\u00adcare costs. b\u2011rayZ is trans\u00adforming breast cancer diagno\u00adstics with its breakth\u00adrough AI tech\u00adno\u00adlogy for faster and better diagno\u00adses. b\u2011rayZ\u2019s success is driven by a commit\u00adment to saving women\u2019s lives through early breast cancer detec\u00adtion. Every woman, ever\u00ady\u00adwhere. www.b\u2011rayz.ch.<\/p>\n
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\nConver\u00adgence Part\u00adners AG (\u201cConver\u00adgence\u201d) is a Swiss Health\u00adTech venture capi\u00adtal firm actively support\u00ading the inter\u00adna\u00adtio\u00adna\u00adliza\u00adtion of its port\u00adfo\u00adlio compa\u00adnies in the four largest health\u00adcare markets USA, China, India and Germany. Conver\u00adgence, which has a presence in Switz\u00ader\u00adland, Germany, Spain and Hong Kong, was foun\u00added in 2018 by expe\u00adri\u00aden\u00adced health\u00adcare indus\u00adtry play\u00aders and venture capi\u00adta\u00adlists with the aim of combi\u00adning tech\u00adno\u00adlo\u00adgi\u00adcal excel\u00adlence in the EU with great inter\u00adna\u00adtio\u00adnal scale-up and exit poten\u00adtial. Conver\u00adgence focu\u00adses on later-stage invest\u00adments in digi\u00adtal health, medi\u00adcal devices and diagno\u00adstics. Current major invest\u00adment themes include mental health, women\u2019s health, and compu\u00adta\u00adtio\u00adnal biology. www.convergence-partners.ch.<\/p>\n
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\nLifeCare Part\u00adners is an inde\u00adpen\u00addent invest\u00adment advi\u00adsory firm that provi\u00addes finan\u00adcing to private and public life science compa\u00adnies. LifeCare Part\u00adners addres\u00adses the entire life science indus\u00adtry with a special focus on medi\u00adcal tech\u00adno\u00adlogy, diagno\u00adstics, biophar\u00admaceu\u00adti\u00adcals, food and nutri\u00adtion, indus\u00adtrial biotech\u00adno\u00adlogy, bioma\u00adte\u00adri\u00adals, e\u2011health and bioen\u00adergy. The LifeCare Part\u00adners team, based in Basel, Switz\u00ader\u00adland, has successfully inves\u00adted in more than 50 life science compa\u00adnies in recent years, a large number of which are alre\u00adady listed on the stock exch\u00adange or have been acqui\u00adred by leading life science compa\u00adnies. www.lifecare.partners.<\/p>\n
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\nProt\u00adagon AG is an invest\u00adment company that focu\u00adses on seed and growth finan\u00adcing. The digi\u00adtal revo\u00adlu\u00adtion is chan\u00adging all indus\u00adtries at a rapid pace and promi\u00adses solid returns with sustained momen\u00adtum for years to come. This under\u00adpins Prot\u00adagon\u2019s belief that tradi\u00adtio\u00adnal compa\u00adnies will conti\u00adnue to be chal\u00adlen\u00adged by new digi\u00adtal start\u00adups, with tech\u00adno\u00adlogy compa\u00adnies incre\u00adasingly taking the helm. www.protagongroup.com.<\/p>\n","protected":false},"excerpt":{"rendered":"