Dutch health-tech venture using AI to diagnose strokes preps IPO in Australia

Dutch health-tech venture using AI to diagnose strokes preps IPO in Australia

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Nico.lab, a ground-breaking Dutch health-tech venture, is getting ready for an IPO in Australia as it raised €3 million from Australian investors earlier this year. The IPO is planned for the beginning of 2019. Besides the Australian investment, the healthcare company is keen on a market entry in North America.

Merel Boers, Chief Research Officer at Nico.lab: “We are very pleased with the great interest in our product that combines the latest clinical research results with state-of-the-art AI technology. This movement shows that an impact can be made in healthcare. We want to work hard on further expanding StrokeViewer in the coming years to help more patients.”

Developed StrokeViewer software

Nico.lab was founded in 2015 by a collaboration between Amsterdam UMC and health-tech venture builder NLC. After years of intensive research in the former, Nico.lab developed StrokeViewer. Notably, StrokeViewer is a software product that speeds up the diagnosis and treatment of strokes. Based on AI (artificial intelligence), Nico.lab focuses on making this software available to more patients.

Nico.lab’s software analyzes brain scans to recognize and assess stroke indicators accurately using AI. The diagnosis happens in a few minutes and increases the chances of a positive result. The algorithm comes with a self-learning ability and offers additional knowledge about the ailment and the functioning of the brain in serious situations. Basically, AI shortens the time taken to determine the treatment for stroke in just three minutes while the currently deployed protocol takes hours.

Nico.lab secures €0.5 million grant

StrokeViewer was tested among 3000 patients in several hospitals in the Netherlands. And, there are claims that it has been approved to be rolled out by 15 hospitals. In addition to testing, the software was also compared with the existing methods used for the diagnosis of stroke all these years. As the results were exceptional, Nico.lab won a European grant of €0.5 million. Owing to the success, the company has been asked to take part in clinical trials in Australia and North America.

To meet the growing demands for the AI-based software, Nico.lab needs new investments. The Dutch healthcare startup received €3 million investment from multiple investors as a ramp up to an IPO in Australia, which is scheduled for early 2019. The US debut of StrokeViewer is intended to happen early next year as tech giants such as Intel, HP and Google have partnered with Nico.lab.

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