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AI Detects More Breast Cancers with Fewer False Positives

Using artificial intelligence (AI), breast radiologists in Denmark have improved breast cancer screening performance and reduced the rate of false-positive findings. Results of the study were published today in Radiology, a journal of the Radiological Society of North America (RSNA).

Mammography successfully reduces breast cancer mortality, but also carries the risk of false-positive findings. In recent years, researchers have studied the use of AI systems in screening.

“We believe AI has the potential to improve screening performance,” said Andreas D. Lauritzen, Ph.D., a post-doctoral student at the University of Copenhagen and researcher at Gentofte Hospital in Denmark.

When used to triage likely normal screening results or assist with decision support, AI also can substantially reduce radiologist workload.

“Population-based screening with mammography reduces breast cancer mortality, but it places a substantial workload on radiologists who must read a large number of mammograms, the majority of which don’t warrant a recall of the patient,” Dr. Lauritzen said. “The reading workload is further compounded when screening programs employ double reading to improve cancer detection and decrease false-positive recalls.”

Dr. Lauritzen and colleagues set out to compare workload and screening performance in two cohorts of women who underwent screening before and after AI implementation.

The retrospective study compared two groups of women between the ages of 50 and 69 who underwent biennial mammography screening in the Capital Region of Denmark.

In the first group, two radiologists read the mammograms of women screened between October 2020 and November 2021 before the implementation of AI. The screening mammograms of the second group of women performed between November 2021 and October 2022 were initially analyzed by AI. Mammograms deemed likely to be normal by AI were then read by one of 19 specialized full-time breast radiologists (called a single-read). The remaining mammograms were read by two radiologists (called a double-read) with AI-assisted decision support.

The commercially available AI system used for screening was trained by deep learning models to highlight and rate suspicious lesions and calcifications within mammograms. All women who underwent mammographic screening were followed for at least 180 days. Invasive cancers and ductal carcinoma in situ (DCIS) detected through screening were confirmed through needle biopsy or surgical specimens.

In total, 60,751 women were screened without AI, and 58,246 women were screened with the AI system. In the AI implementation group, 66.9% (38,977) of the screenings were single-read, and 33.1% (19,269) were double-read with AI assistance.

Compared to screening without AI, screening with the AI system detected significantly more breast cancers (0.82% versus 0.70%) and had a lower false-positive rate (1.63% versus 2.39%).

“In the AI-screened group, the recall rate decreased by 20.5 percent, and the radiologists’ reading workload was lowered by 33.4 percent,” Dr. Lauritzen said.

The positive predictive value of AI screening was also greater than that of screening without AI (33.5% versus 22.5%). In the AI group, a higher proportion of invasive cancers detected were 1 centimeter or less in size (44.93% vs. 36.60%).

“All screening performance indicators improved except for the node-negative rate which showed no evidence of change,” Dr. Lauritzen said.

Dr. Lauritzen said more research is needed to evaluate long-term outcomes and ensure overdiagnosis does not increase.

“Radiologists typically have access to the women’s previous screening mammograms, but the AI system does not,” he said. “That’s something we’d like to work on in the future.”

It is also important to note that not all countries follow the same breast cancer screening protocols and intervals. U.S. breast cancer screening protocols differ from protocols used in Denmark.

TOOsonix A/S Reports | New Oncology and Dermatology Device is Available in Europe

TOOsonix A/S

TOOsonix A/S, a pioneer in high-intensity focused ultrasound (HIFU) technology for dermatology, has received EU Medical Device Regulation (MDR) CE certification for its system for image-guided dermatologic therapy.

The certification allows TOOsonix to sell its flagship product, System ONE-M™, across the European Economic Area. Treatment of skin cancer and skin diseases can now be conducted in ways never before possible, providing more patient-friendly treatment than traditional procedures.

“Our device presents oncologists and dermatologists with a new and versatile tool that can remove the need for an array of lasers, RF-devices, and other expensive specialized tools. With System ONE-M, a typical session may encompass the primary treatment of e.g. cancerous basal cell carcinoma, pre-cancerous actinic keratosis, as well as the removal of various more benign skin conditions that may have emerged since the patient’s last visit”, said Managing Director at TOOsonix, Torsten Bove.

High-precision image-guided therapy

Unlike conventional dermatological therapy, everything can now be accomplished within a single straightforward session using the same device. The clinician can assess the target lesion area in microscopic resolution before treatment using the system’s integrated imaging capability, and proceed directly to an image-guided treatment with extreme accuracy.

“The treatment allows patients to depart virtually unaffected and without requiring downtime. Our objective has been to provide the most patient friendly treatment. TOOsonix System ONE-M is the next level device for treatment of the skin”, said Co-Managing Director, Tomasz Zawada at TOOsonix.

The approved treatments span several subcategories within dermatology. In oncology, interventions cover the treatment of basal cell carcinoma, the most prevalent cancer worldwide, and actinic keratosis, the most common pre-cancerous condition. Additionally, the system offers a pioneering non-invasive treatment of cutaneous neurofibromas in patients with the rare disease Neurofibromatosis Type 1, the most widespread genetic disorder. Finally, a wide range of benign skin tumors and neoplasms within general dermatology are approved. Treatments of these encompass several tens of millions conducted in hospitals and private practice every year, utilizing lasers, light therapies, RF-therapy, cryotherapy, and a range of topical and systemic pharmaceutical products.

Immense potential

Clinical data for all treatments demonstrate safe, swift, and efficient therapies, now providing patients with a non-invasive option that have minimal discomfort and no downtime following treatments, and no side effects from pharmaceutical agents or harmful radiation. In many cases, a single treatment session taking less than 90 seconds suffices to achieve the desired therapeutic outcome.

Lone Schøtt Kunøe, CEO of Consolidated Holdings A/S and Chairman of TOOsonix, remarks:

“Introducing a safe, swift, and effective system to the market for both medical and aesthetic dermatological therapy holds immense potential. I view the CE mark as the initial realization of TOOsonix’s breakthrough in the market, and I am tremendously enthusiastic about the excellent prospects for the future”.

 

CEFALY Technology Announces a Collaboration with Genesis Women’s Shelter & Support in Dallas, Texas

Medical device maker CEFALY Technology announced a collaboration with Genesis Women’s Shelter & Support in Dallas, Texas to help domestic violence survivors living with migraine.

As part of its CEFALY Cares initiative, CEFALY Technology has provided Genesis with its innovative migraine treatment and prevention device, as well as educational resources and one-on-one training on migraine management and prevention.

More than 39 million Americans — most of them women — live with migraine, which is a complex and debilitating neurological disorder. Migraine attacks are most commonly characterized by an intense pulsing or throbbing headache on one side of the head, and also may involve other symptoms such as nausea, vomiting, and sensitivity to light and sound.

Migraine and domestic violence are intertwined in multiple ways:

  • Research has shown that people who experience or witness domestic violence in childhood are more likely to develop a headache disorder as adults.
  • In one study, women who had experienced intimate partner violence had increased odds of also having migraine — especially if they also had depression.
  • Stress is the most commonly reported trigger for migraine attacks. The intense stress of an abusive relationship may make migraine worse or increase the frequency of attacks.
  • Leaving an abuser may be more difficult for survivors who live with a chronic illness, such as migraine, if they have been prevented from having independent access to support.
  • Even after a survivor has left an abuser, post-traumatic stress disorder (PTSD) may contribute to migraine.

Jen Trainor McDermott, CEO of CEFALY Technology

“Leaving an abusive relationship and recovering from trauma is hard for anyone — and it can be even more difficult for women living with debilitating migraine pain. CEFALY is proud to partner with Genesis Women’s Shelter & Support to empower the women they serve by providing a drug-free, clinically proven migraine solution that helps them get back to life.”

Genesis is the first women’s shelter receiving a migraine treatment device, training, and education through the CEFALY Cares program. If your organization serves survivors of domestic and sexual violence and would like to participate in CEFALY Cares, please reach out to CEFALY.

About the CEFALY device:

CEFALY Technology is the maker of CEFALY, an FDA-cleared, over-the-counter wearable medical device clinically proven to help reduce migraine frequency and relieve migraine pain. CEFALY is a non-invasive device placed on the forehead to modify pain sensation in the area research identifies as a center for migraine pain, the trigeminal nerve.

The Bluetooth-enabled CEFALY Connected syncs with the CeCe Migraine Management app and enables users to track CEFALY treatments and log migraine attacks on their mobile device. With these insights, they can better understand their migraine patterns and optimize their treatments.

About Genesis Women’s Shelter & Support:

Genesis Women’s Shelter & Support was founded in 1985 with a goal to not just help women, but to completely eradicate domestic violence. Last year, Genesis served 3,700 women and children at their emergency shelter, transitional housing apartments, and nonresidential offices. Genesis provides services like counseling, legal, advocacy, childcare, occupational therapy and more at no cost and with no strings attached so women know there is help and there is hope.

 

Ceretrieve Announces Groundbreaking Success in FIH Ischemic Stroke Cases

Ceretrieve
A brain clot removed with Ceretrieve’s device

Ceretrieve announced today the successful results of the company’s multicenter, single-arm study, showcasing the capabilities of its state-of-the-art aspiration catheter. The study, conducted across two centers, included 20 patients who suffered from acute ischemic stroke (AIS) due to intracranial large vessel occlusion (LVO) and were eligible for thrombectomy within 24 hours of symptom onset. The study was aimed for assessing the safety and initial performance of the Ceretrieve Device.

Redefining Stroke Treatment

Ceretrieve’s mission is to transform stroke care, save lives, minimize disability, and significantly improve post-stroke quality of life. Ceretrieve’s aspiration catheter is at the forefront of this mission, delivering aspiration capabilities that are far superior when compared to existing devices, allowing clot(s) removal in a single pass, while fully restoring blood flow. Designed for seamless integration within a conventional 6Fr delivery catheter, Ceretrieve’s device offers exceptional trackability and maneuverability, ensuring efficient access to the clot location.

As shown in the study conducted, Ceretrieve’s aspiration catheter not only excelled in performance but also ensured the highest safety standards by reducing the risk of releasing clot fragments further into the brain. In the first-in-human (FIH) study 80% Complete/Near-Complete Perfusion was achieved.

The study included two generations of the device, and the results with the improved Gen 2 device are highly impressive: 100% Complete/Near-Complete Perfusion achieved in all treated patients; and 83% First Pass Complete Perfusion (FPE mTICI 3), far exceeding the 30%-40% rate of current gold-standard devices.

Maysa Mustafa, CEO of Ceretrieve:

“The promising results of our clinical studies are the culmination of years of hard work and R&D. Our mission to redefine stroke treatment drives everything we do, and these results signify a major leap forward in saving and dramatically improving lives following an ischemic stroke.”

“The ‘first pass effect’ has been shown to improve patient outcomes” says Dr. Shady Jashan (Galilee Medical Center, Israel) who performed the first neuro thrombectomy procedure with the Ceretrieve device. “Our experience in FIH trials demonstrated that the Ceretrieve device quickly enables complete clot ingestion in first pass even for the most challenging clots and anatomies. This has the potential to dramatically improve patient clinical outcomes.”

Prof. Serder Geyik, MD (Florya Medical Park, Turkey): “The term ‘Everything comes with a price’ is not valid for the Ceretrieve device. Ceretrieve’s device aspirates the clot with a giant bore tip- double than the largest catheters in the market, for maximal vacuum effect without paying the price in trackability. In addition, it provides local flow restriction in the middle cerebral artery reducing distal emboli. It is the only device that includes all the features for successful thrombectomy and first pass effect in one single device. ”

Amir Belson, M.D., Ceretrieve Chair:

“With Ceretrieve’s advanced technology, we are seeing significant improvements in patient recovery rates. This innovation is setting a new standard in stroke care, offering patients better outcomes and real hope for recovery.”

Novosound, a Scottish Sensor Technology Startup Targets Expansion in APAC

Novosound
Novosound’s Ceilidh system, a wide area corrosion monitoring system that improves the efficiency and safety of industrial assets, will be featured at the 20th World Conference for Non-Destructive Testing (WCNDT) in Incheon, South Korea between 27th-30th May

On the back of recent client wins with global energy giants in the Middle East and North America, Scottish sensor technology scale-up company Novosound is targeting expansion in the APAC region.

Novosound’s Ceilidh system, a wide area corrosion monitoring system for industrial groups seeking to improve the efficiency and safety of their assets, will be featured at the 20th World Conference for Non-Destructive Testing (WCNDT) in Incheon, South Korea between 27th-30th May, hosted by the Korean Society for Nondestructive Testing (KSNT).

The Ceilidh is a fully patented system for the monitoring of corrosion and solves a number of industry challenges including corrosion under composite-wraps. Novosound’s recent commercial wins in the international industrial sector follow previous contract wins with Atom Group (Greece), Uniper (UK), BAE Systems (UK), and GE Aviation (USA).

Novosound CEO and Founder Dave Hughes said:

“The Ceilidh system represents a significant breakthrough in the field of non-destructive testing, addressing complex challenges and specifically tailored for industries where corrosion monitoring is absolutely critical.”

CEO Dave Hughes will also be meeting some of South Korea’s most high profile technology and electronics groups during the company’s visit to showcase its wireless wearable ultrasound system, the Slanj. The Slanj platform is currently being trialled with USA and European digital healthcare partners, utilising a pioneering technology which is able to look deeper into the body and enhance the monitoring of biometrics like blood pressure and dehydration compared to optical, magnetic, and electrical sensors.

Dave Hughes added: “We look forward to exploring potential collaborations across the industrial and digital health sectors during our forthcoming visit to South Korea, as we proudly carry the banner for Scottish innovation and its world-class capabilities.”

Abu Dhabi Issues First BioTech Inventor-Class Golden Visa to Catalyze “Made-In-Abu-Dhabi IP” to Rockefeller University Inventor Dr Kambiz Shekdar, PhD

Dr Kambiz Shekdar
Co-Founders of Abu Dhabi company Secondcell Investment Holding LLC Rockefeller University Alumnus and BioTech Inventor Dr. Kambiz Shekdar PhD, Mohammad Mahfouz and Juma El-Ajou attending the AmCham Abu Dhabi Kick-Off Dinner for Abu Dhabi Global Health Week AmCham on May 12, 2024.

As Abu Dhabi, United Arab Emirates accelerates its emerging BioTech & Made-in-Abu-Dhabi IP creation sector, Rockefeller University BioTech Inventor Dr. Kambiz Shekdar, PhD, Founder and CEO of Secondcell Bio and President of Research Foundation for Cure Initiatives, is empowering BioTech innovation in the UAE through a series of innovative firsts.

Dr Kambiz Shekdar is exporting the proprietary cell engineering technology he invented at a Nobel-Prize Winning Laboratory at The Rockefeller University, Chromovert® Technology, to the UAE to establish an Emirati biotechnology joint venture aimed at developing and commercializing jointly-owned “Made-In-Abu-Dhabi IP.”

Via a nomination from Competitiveness Office of Abu Dhabi (COAD), the UAE issued the prestigious UAE Golden Visa under the Inventor category to Shekdar on May 21st 2024, underscoring Abu Dhabi’s commitment to fostering innovation and elevating competitiveness in the emirate and marking him as the first biotech inventor to attain this esteemed type of visa.

Dr Kambiz Shekdar said:

“I gratefully take this opportunity as my solemn commitment to help build up the BioTech sector in Abu Dhabi with the same home-grown can-do-and-have-done record of accomplishment demonstrated by Emirati leadership, its people, and nation, and to do so collegially with the best of the best of the world’s human capital across frontier technologies who, like myself, are drawn to the UAE with the thirst to pioneer and build better like only possible in the red-hot entrepreneurial climate of the UAE.”

The UAE Golden visa is a long-term residence visa that enables foreign talents to live, work or study in the UAE while enjoying exclusive benefits, such as the privilege of not needing a sponsor. Investors, entrepreneurs, scientists and humanitarian pioneers are among those eligible for the Golden visa.

Secondcell Bio joined AmCham Abu Dhabi as the first BioTech corporate member for its support to help accelerate the emerging BioTech sector of the UAE. Shekdar chose to partner with AmCham Abu Dhabi following thorough consultations with various government and business groups, citing AmCham Abu Dhabi’s proactive leadership under CEO Liz Beneski, their exceptional team and expert-led events that facilitate valuable connections between U.S. and UAE-based businesses and individuals.

Secondcell Bio’s decision to join AmCham Abu Dhabi inspired Beneski to advocate for the creation of a new BioTech committee within AmCham, focused exclusively on biotechnology and the businesses needed to help this sector thrive. The AmCham Abu Dhabi BioTech Committee was formally announced on Sunday, May 12, 2024 at the Abu Dhabi Global Health Week (ADGHW) AmCham Kick-Off Dinner.

“AmCham Abu Dhabi’s Mission is to promote commerce, investment and goodwill between its membership, the United States of America and the United Arab Emirates,” added Beneski, “Dr. Shekdar is a remarkable American innovator, and we are thrilled that Kambiz brings his achievements in BioTech to Abu Dhabi and the UAE. We excitedly look forward to the future with him as he launches the new BioTech Committee.”

The first of its kind in the Arab Gulf States, the AmCham BioTech Committee is dedicated to promoting opportunities for U.S. biotechnology companies as Abu Dhabi defines and advances its biotechnology sector. Shekdar serves as Founding Chairman.

Mohammad Mahfouz, Juma El-Ajou and Shekdar co-Founded Secondcell Investment Holding LLC in Abu Dhabi to facilitate strategic partnerships for drug discovery at scale in Abu Dhabi.

“Mohammad and I see countless proposals. This one is different, and the one we joined personally. Our joint venture is not a one-hit-wonder, but rather an opportunity to establish in Abu Dhabi a demonstrated discovery engine technology that has been successfully commercially validated to enable accelerated drug discovery for hundreds, if not thousands, of promising new medical treatments, therapies and cures,” says El-Ajou.

About Dr. Kambiz Shekdar, PhD
From invention at The Rockefeller University to IPO at New York Stock Exchange to scale-up drug discovery for jointly owned Made-in-Abu-Dhabi IP in the UAE, Dr. Kambiz Shekdar, PhD is the first U.S. Biotech Abu Dhabi Golden Visa Inventor transitioning to the UAE.

Dr. Shekdar invented Chromovert® Technology while he was a graduate doctoral student in the laboratory of his mentor, the late Nobel laureate & King Faisal Prize winner Dr. Gunter Blobel, MD, PhD. at The Rockefeller University in New York City. For more than 20 years, Dr. Shekdar has been pursuing applications of the same platform technology, now including pursuing the creation of a joint venture with Emirati stakeholders to implement the by-now validated research engine as part of a national-level public-private partnership for drug discovery at scale in the UAE. Secondcell Bio is a member of the Abu Dhabi, UAE chapter of American Chambers of Commerce. Dr. Shekdar is Founding Chairman of the AmCham Abu Dhabi BioTech Committee and President of Research Foundation for Cure Initiatives.

PathKeeper Surgical Selected to Exhibit at Vizient Innovative Technology Exchange

PathKeeper Surgical
PathKeeper Surgical, a company widely known for its cutting-edge optical navigation that prioritizes precision, safety, and minimization of radiation exposure, has been selected to exhibit their Artificial Intelligence (AI) and Optical Spine Navigation solution at the Vizient Innovative Technology Exchange.

PathKeeper Surgical has been selected to exhibit their Artificial Intelligence (AI) and Optical Spine Navigation solution at the Vizient Innovative Technology Exchange. Vizient, Inc., the nation’s largest provider-driven healthcare performance improvement company, will hold the Exchange Sept. 18 in Las Vegas.

The annual Innovative Technology Exchange offers selected suppliers the unique opportunity to demonstrate their product or service to supply chain and clinical leaders from Vizient’s customer hospitals and subject matter experts who serve on their supply councils. Each product or service will showcase how it improves clinical outcomes, enhances safety or drives incremental improvements to health care delivery or business models.

PathKeeper Surgical is working to revolutionize Spinal Navigation with AI and IR Laser Optics. These combine to create a digital surgical platform, with no intraoperative radiation and accuracy for registration and tool tracking to less than a millimeter. Furthermore, it enhances surgical workflows, greatly reduces radiation to patients, and delivers a solution that can help across multiple settings including the Ambulatory Surgery Center as well as for Deformity Surgeons in hospitals.

“We are very excited to bring PathKeeper to the Vizient Innovative Technology Exchange,” said Erez Lampert, CEO of PathKeeper. “Our mission is to revolutionize the spine surgical landscape by integrating advanced technologies that prioritize patient safety and surgical precision. Our advancement significantly enhances surgical workflows and reduces radiation exposure, benefiting both patients and medical professionals. We are excited to bring our innovative solution to market with Vizient, where it can make a real difference in diverse surgical settings, democratizing technology for spine surgeons and patients everywhere.”

“The selection process for medical device and supply companies that exhibit at the Exchange is a rigorous one,” said Kelly Flaharty, senior director of contract services, Vizient. “Companies showcase their products and services hoping to be awarded an Innovative Technology contract — a signal to healthcare providers of their solution’s unique qualities.”

The annual Innovative Technology Exchange is part of Vizient’s Innovative Technology Program that includes product review of supplier-submitted technologies by provider-led councils. Since 2003, Vizient has reviewed over 1,600 product submissions as part of its Innovative Technology Program.

How AI Will Tranform Conducting Medical & Pharmaceutical Inventory | By Chris Green, CEO & Managing Partner of Meridian Inventory Services

Chris Green, CEO & Managing Partner of Meridian Inventory Services
Chris Green, CEO & Managing Partner of Meridian Inventory Services

You would need to be living on the moon or under a rock if you have not heard about artificial intelligence (AI) and how it is impacting our lives and workplaces.  It is replacing workers, revolutionizing industries, and even helping make advances in medicine and science.  And we are just at the infancy of utilizing AI.

I am often asked how AI will transform conducting medical and pharmaceutical inventory.  Some have asked me will it replace human workers?  Will everything be automated?  Is it more efficient than using human workers?

The simple answer is that for all that AI brings to the table, I do not see AI ever totally replacing the need for human workers when conducting medical and pharmaceutical inventory in the medical and pharmaceutical inventory collection will always need the human component.  While AI brings much to the table and in some ways can serve as the brain function and we humans as the muscle, the human component is essential to a successful inventory process.  But having said that, AI can help make the medical and pharmaceutical inventory process more cohesive and cost-efficient.  At my company, Meridian Inventory Services, we have already incorporated AI in much of our processes.

But as I said, AI doesn’t completely do away with the need for humans in the medical and pharmaceutical inventory process.  Let me delve into why AI hasn’t replaced the human component in the inventory process, and I don’t believe should.

Physical Inventory Counts

Conducting inventory is just that counting and verifying what’s on hand.  As great as AI is, it cannot physically count and verify drugs and medical equipment.  Only humans can perform this now.

Inventory management fundamentally involves counting and verifying drugs and medical equipment—tasks that AI cannot perform physically. Human involvement is indispensable for these activities.

Complexity and Nuance

We all know that medical inventory management is a complex process that involves a wide range of products, including drugs, medical devices, and equipment.   Daily it seems to become more complicated.  Each item has its own unique characteristics, storage requirements, and expiration dates. AI systems may struggle to handle the nuances and variations inherent in medical inventory. Human Judgment and Decision-Making

Conducting medical inventory requires judgment and decision-making skills that are difficult to replicate in AI systems. For example, when an item is damaged or expired, the inventory manager must decide whether to discard it or quarantine it for further inspection. AI systems lack the experience and intuition necessary to make these complex judgments.  Also, the inventory process can be unpredictable.  AI does not deal with unpredictability; it deals with absolutes (Think of HAL from 2001: A Space Odyssey).  Humans know life is unpredictable and can adapt.

Regulatory Compliance

Medical inventory management is subject to strict regulatory requirements that are becoming more intricate and time-consuming.  They vary from state to state. Healthcare facilities must adhere to specific guidelines regarding the storage, handling, and disposal of medical products. Currently, AI systems are not designed to fully understand and comply with these complex regulations.

Patient Safety

Medical inventory is essential for ensuring patient safety. Errors in inventory management can lead to medication errors, equipment malfunctions, and other serious incidents. Humans are better equipped than AI systems to recognize potential risks and take appropriate actions to prevent them.

Communication and Collaboration

Inventory management requires effective communication and collaboration between multiple stakeholders, including medical staff, purchasing departments, and suppliers. AI systems may struggle to interact effectively with human users and understand their needs.

Small Scale Operations

Artificial intelligence is costly and will remain so for the foreseeable future.  Smaller pharmacies or specialized medical practices will not find utilizing AI to be cost efficient.

Integration Challenges

Implementing AI requires integration with existing pharmacy systems.  This is not a seamless process.  It is complicated and costly and very often existing systems are not compatible with AI.

How AI Enhances the Inventory Process?

Automated Inventory Tracking

AI-powered solutions can use RFID tags or other tracking technologies to automatically track the location and quantity of inventory items. This can help to prevent shortages and overstocking, and it can also make it easier to find items when they are needed.

Predicative Analytics

AI has made significant advancements in its analytics capabilities, surpassing human accuracy in many areas. Its predictive analytics represent a major leap forward, enabling more precise forecasting and inventory management.

AI can be used to analyze historical data to predict future inventory needs. This can help healthcare providers to avoid shortages and ensure that they have the supplies they need to meet patient demand.  By employing AI, pharmacies can reduce excess inventory, minimize stockouts, and maximize supply chain efficiency.

Automation

AI-powered systems automate routine tasks such as inventory tracking, reorder scheduling, and expiration date monitoring. This automation improves efficiency, reduces the risk of errors, and frees up pharmacy staff to focus on more value-added activities.

AI significantly enhances the medical and pharmaceutical inventory process. Despite the hype, it hasn’t eliminated the need for human involvement. Instead, humans and AI must work collaboratively. AI can augment human capabilities by providing data-driven insights, automating repetitive tasks, and optimizing processes. Meanwhile, humans contribute their expertise, judgment, and interpersonal skills to interpret AI insights, make informed decisions, and ensure high-quality patient care.

Successful inventory management in the medical and pharmaceutical sectors leverages the strengths of both AI and humans. This collaborative approach enhances efficiency, accuracy, and effectiveness while maintaining a customer-centered focus, harnessing AI’s full potential, and preserving the essential human touch in delivering exceptional inventory services.

Editor’s Note: Chris Green is the CEO and Managing Partner of Meridian Inventory Services.  Additional information on him and Meridian Inventory Services is available at https://meridianinventory.com

Activation Capital Introduces ‘Frontier BioHealth’ to Catalyze Life Science Startups

Activation Capital announces the launch of Frontier BioHealth, an educational and support program designed to provide highly specialized training, targeted mentorship, and relationship building to help scale pharmaceutical, biotech, medical device, and health-focused consumer products companies. The inaugural four-month program will be critical in bringing research-intense products and companies to market. It will broaden the continuum of regional early-stage support – additive to Virginia Commonwealth University’s proof of concept fund and newly launched pre-accelerator program – and continue to coalesce the emerging private investment ecosystem in Central Virginia.

“We celebrate the growing base of research and technological advances within the region’s health and life sciences sector,” said Chandra Briggman, President and CEO of Activation Capital. Virginia Commonwealth University has seen a 76% increase in sponsored research over the past five years. Virginia State University is creating a robust technology transfer and commercialization ecosystem on its campus to expand its agtech and other expertise. Our goal is to ensure more of that research and technology is translated into successful products, companies, and jobs, which is the intended return on research investments,” added Briggman. “These companies are important contributors to regional economic growth because they are associated with higher-paying jobs and with delivering innovations that improve all varieties of life. Our Frontier BioHealth initiative is designed to help deliver these outcomes more consistently.”

Under the leadership of Activation Capital’s newly appointed Vice President of Entrepreneurship, Dr. Jim Pannucci, Frontier BioHealth will address the long, complex, and capital-intense journey that life sciences startups face as they bring products to market. “On average, deep tech firms building life science solutions require up to 15 years to reach the market. There is currently a gap in support for these firms within the region, as noted by our regional partners, yet these firms hold great promise for transforming segments of the sector and our regional economy,” said Dr. Pannucci. “Our goal is to provide startups with a comprehensive array of resources, connections, and guidance – helping them navigate market-readiness challenges and scale their solutions.”

Frontier BioHealth reflects the growing momentum in Central Virginia’s life sciences sector, including the early successes of the advanced pharmaceutical manufacturing cluster scale-up efforts and the introduction of multiple sector-related educational programs like Reynolds Community College’s Biotechnology Laboratory Technician Associate in Science (AS) degree program, and the School of Pharmacy’s new Pharmaceutical Sciences degree at VCU. “Frontier BioHealth will help broaden the regional life sciences innovation portfolio – yielding a more diverse innovation ecosystem and a workforce with skills across a broader selection of sub-sectors. It will help deepen regional expertise and thus increase the region’s global competitiveness within key life science focus areas,” said Briggman.

The launch of Frontier BioHealth is a return to the Bio+Tech Park’s roots, where the 34-acre urban campus offered an array of training, wrap-around support, and networking for university spinouts and other emerging firms from within its Biotech Center and shared lab space. “I am excited to bring my deep scientific and business expertise to help write the next chapter of the Center’s history and build an active community of successful health and life sciences firms operating within the region,” said Pannucci. “Over the next 12 months, we will engage and iterate our offerings to address the dynamic needs of these firms, but we are ready to get started.” Participating companies will have access to a wide variety of resources from Activation Capital and its national-level partnerships with gener8tor, FedTech, and Fat Robin Consulting. The inaugural training component is intended to kick off in early August 2024 and will conclude in November 2024. Companies with a clear commercialization path, a strong scientific discovery that is ready to scale, and a full-time founder are invited to apply. Additional information can be found at www.activation.capital/frontier-biohealth.

Frontier BioHealth is funded in part through a grant with the U.S. Small Business Administration (SBA). All opinions, conclusions, and/or recommendations expressed herein are those of Activation Capital and do not necessarily reflect the views of the SBA.

Global Biotech Investment Report 2024 – Big Biopharma Companies Disruptive Technologies and Portfolio Realignment Will Ensure the Growth Potential of Biotech Investments

Biotech Investment Report

In this analysis, the biotech investment report provides critical insights into the biotech M&A and venture capital (VC) investment, highlighting the drivers, challenges, predictions, and major trends in the biotech segment. This analysis also identifies actionable growth opportunities for industry participants to leverage.

To understand the trend outlook for 2024 and beyond, this analysis assesses strategic and financial investments, mergers and acquisitions (M&A), VC investments, and private equity (PE) from 2019 to 2023. The analyst has gathered the total numbers for the entire ecosystem. The scope of this analysis is global, with 2023 as its base year, and includes forecasts up to 2028.

Featured Companies:

  • Alexandria
  • ARCH Ventures
  • Google Ventures
  • OrbiMed
  • RA Capital
  • SamsaraBio Capital

Key Topics Covered:

Growth Generator

  • Growth Drivers
  • Growth Restraints
  • The State of the Biotech Industry – Biologics Pipeline
  • State of the Biotech Industry – Biologics Industry Outlook
  • Biotech M&A Investment Outlook – 2024
  • Biotech VC Investment Outlook – 2024
  • Top 3 Predictions – 2024
  • Top 3 Big Pharma Investment Strategies for Portfolio Remodeling
    • Emerging Biotech Companies Top Trends – Impact Summary
    • New Modalities Driving Precision Medicine Will Remain Attractive
    • Investors Prioritizing Cardiometabolism, Oncology, CNS, and Immunology

Growth Generator: Biotech M&A

  • Biotech M&A Trends
  • Big Biopharma M&A Activity
  • Biotech M&A Analysis by Therapeutic Segment
  • Biotech M&A Analysis by Modality
  • Key Biopharma M&A Targets 2024

Growth Generator: Biotech VC Investment

  • Biotech VC Financing Trend
  • Top VC Financing Deals
  • Biotech VC Deal Analysis by Funding Stage
  • Biotech VC Deal Analysis by Therapeutic Segment
  • Biotech VC Deal Analysis by Modality
  • Biotech VC Deal Analysis by Stage of Clinical Development

Companies to Action

  • Google Ventures (United States)
  • ARCH Ventures (United States)
  • RA Capital (United States)
  • SamsaraBio Capital (United States)
  • OrbiMed (United States)
  • Alexandria (United States)

Growth Opportunity Universe

  • Growth Opportunity 1: Acquiring Rare Disease-focused Biopharma Companies
  • Growth Opportunity 2: Investing in Precision Medicine Platform Technology-based Biotech Companies
  • Growth Opportunity 3: Investing in Clinical-stage Chinese Biopharma Companies

Best Practices Recognition

Company Innovation & Growth Index Radar

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