Polish Medtech, listed on New Connect, aims to raise a total of 9 million złoty (PLN) with the primary objective of entering the American market.
BrainScan, a Polish start-up delivering revolutionary, AI-based tools that aid doctors in the image-based diagnosis of the brain, is seeking further investment. The company hopes to raise an estimated 9 million złoty through a stock issue. This would fund their American Food and Drug Administration (FDA) certification, facilitating the company’s expansion into the United States, the growth of their technical team, and the continuation of current operations in line with their long-term development strategy. BrainScan’s proprietary technology is already operating in several dozens of medical facilities, both in Poland and abroad.
The BrainScan CT offered by the company is based on a comprehensive dataset encompassing hundreds of thousands of studies and can detect the thirty most common pathologies of the brain. The tool provides radiologists with analysis results within 3 minutes, significantly optimising the diagnostic process and reducing the time between examination and treatment decisions.
The solution underwent rigorous tests under hospital conditions and is currently used in 24 medical centers in Poland, as well as several centers in other European countries and even in North Africa.
– “We are developing a technology that changes the way doctors approach imaging diagnostics. Our goal is not to replace specialists, but to support them in the diagnosis process and decision making. We are confident that this will significantly improve the efficiency of the health care system in the diagnostic area,” says Szymon Korzekwa, President of BrainScan.
Data from the company suggests that BrainScan CT reduces by up to 38% the time patients spend in the Emergency Room for indeterminate hemorrhagic or ischemic strokes, and by 18% in the case of intracranial hemorrhage. This is significant in reducing the risk of disability that can occur due to late diagnosis.
– “Our technology significantly reduces diagnostic costs and the risk of compensation related to misdiagnosis. BrainScan CT has been trained on a unique data set that continues to grow. At the moment, it can process an average of 24,000 CT scans per month,” adds Szymon Korzekwa.
BrainScan plans to continue its technological improvement, including expanding the data set for analysis, which will translate into greater effectiveness of the AI system. In the future, it hopes to achieve detection of 55 defined brain pathology classes in CT images (compared to the current 30 classes) with an emphasis on perfecting algorithms detecting tumour changes (primary and secondary), ischemic strokes, aneurysms, angiomas, vascular malformations, and vessel obstructions. The company also aims to fully utilize its database of over 100 million CT images (which constitutes over 300,000 single studies) and continue to expand it, thus gradually improving the metrics of the AI model.
In recent years, BrainScan has had stable funding, including public funds support (overall, over 7 million złoty from the National Centre for Research and Development) and capital acquired from investors (in sum, 9 million złoty). The company is also listed on the NewConnect Warsaw Stock Exchange market.
Source: https://managerplus.pl/brainscan-rusza-po-9-mln-zlotych-celem-ekspansja-na-usa-i-dalszy-rozwoj-54842
