CorTechs Labs Inc., a quantitative neuroimaging software company, announced June 9 that it has merged with sister company HealthLytix, a healthcare technology company developing new applications in genetics and medical imaging, to improve the screening and early detection of cancer and neurodegenerative disease. Remaining under the name CorTechs Labs, the merged company will leverage the established, global network of institutions who recognize CorTechs Labs as a trusted partner. Integration of HealthLytix technology will enable CorTechs Labs to broaden its focus by now offering quantitative analysis software to improve the screening and early detection of certain cancers. To date, CorTechs Labs partners with close to 1,000 clinical sites in over 35 countries.
“With a better understanding of disease pathology, the need for diagnostic tools that provide fast and accurate diagnostic support are in high demand. By combining the resources of HeathLytix and CorTechs Labs, we will create commercial synergies that accelerate product development, positioning us to best meet these demands,” said Chris Airriess, Ph.D., chief executive officer of CorTechs Labs. “Our mission has – and will continue to be – pushing the envelope in raising the standards of patient care through breakthrough technology that will ultimately improve patients’ lives. We look forward to working with radiologists and oncologists to support their efforts to detect and diagnose cancers early.”
Expediting market access as a result of this merger is especially important given the recent FDA 510(k) clearance of HealthLytix’s RSI-MRI+ for Prostate, a breakthrough imaging software to help improve early detection and diagnosis of prostate, as well as pending approval in brain cancer. This merger further reinforces the company’s mission of providing state-of-the-art technology to better patient care. Improved screening and early detection of certain cancers, such as prostate and soon brain, as well as neurodegenerative diseases, including Alzheimer’s disease, epilepsy, multiple sclerosis and brain trauma are core to the company mission of improving patient outcomes through early radiological detection and tracking.
“The application of AI tools in advanced quantitative imaging is creating a paradigm shift in regards to how radiologists detect and diagnose cancers and neurological disorders,” said Dr Lawrence N. Tanenbaum, CTO and Director of Advanced Imaging at RadNet, the largest US outpatient imaging network, “I have witnessed firsthand how this shift is positively impacting both patients’ lives and physicians’ practices by eliminating subjectivity, improving diagnostic accuracy and reducing the time to diagnosis which is such a critical factor in the patient’s journey.”
CorTechs Labs now has a comprehensive suite of radiology artificial intelligence products:
“The best-in-class technologies resulting from this merger will set a new industry standard for the future of diagnostics and patient care,” said Nathan White, Ph.D., chief technology officer of CorTechs Labs and co-inventor of RSI-MRI+, previously chief executive officer of HealthLytix. “We know the immense value of our technology in catching cancer early. By combining our resources, we can expedite our path to market and deliver this technology to the physicians who will use it, and trust it, to optimize cancer diagnosis and care for patients.”
Early examples of CorTechs Labs' expanded capabilities were made public in May of 2020 when interpretable AI for chest X-ray and integrated genetic risk analysis were added to the company's COVID-19 related projects. These were in addition to the company's flagship brain volume reports, customized to support the study of patients showing neurological effects of the disease, which have been made available at no cost to clinicians and researchers working on COVID-19.
CorTechs Labs Inc., an industry leader in radiology AI applications, aims to improve screening and early detection of neurodegenerative diseases and cancers. The company will remain under the leadership of Chris N Airriess, Ph.D., as chief executive officer. Nathan White, Ph.D. will be chief technology officer and the board of directors will largely remain the same, including the healthcare industry leaders that composed each of the previous boards. The company’s primary investor is Dragasac Limited, a subsidiary of leading Malaysian corporation, Genting Berhad, with significant global investment in fostering innovative life science technologies that improve health and patient outcomes. With continued support of Genting, CorTechs will open its next round of financing in the second half of 2020.Back To Top
CorTechs Labs, HealthLytix Merge to Advance AI for Cancer, Neurodegenerative Disease. Appl Radiol.