TL;DR:
- Telix Pharmaceuticals acquires Dedicaid GmbH, a Vienna-based AI platform developer.
- Dedicaid’s AI platform generates indication-specific CDSS applications for medical imaging.
- The AI platform uses an AutoML engine for rapid application development.
- Proof of concept for prostate, breast, and lung cancer applications has been published.
- Telix’s AI platform, Telix AI™, aims to combine predictive capabilities with imaging analysis.
- The acquisition accelerates the development of Telix’s AI platform.
- Telix aims to finalize validation activities and regulatory submissions for the AI platform in 2023.
- Dr. Michael Wheatcroft highlights the potential of AI in supporting clinical decision-making.
- Dedicaid’s CEO, Thomas Beyer, emphasizes the mission to enrich medical imaging with AI.
- The purchase price includes upfront equity and additional earn-out subject to regulatory approval.
- Telix will issue ordinary shares and gain ownership of Dedicaid’s AI platform’s intellectual property.
- The acquisition enhances Telix’s position in AI-enabled theranostics.
Main AI News:
Telix Pharmaceuticals Limited (ASX: TLX) has recently announced the acquisition of Dedicaid GmbH, a clinical decision support software (CDSS) AI platform developer based in Vienna. Dedicaid’s AI platform is capable of generating indication-specific CDSS applications from available datasets, providing outcomes such as disease severity, a risk to the patient, and treatment decisions for use with positron emission tomography (PET) and other imaging modalities.
Dedicaid’s AI platform stands out from other commercially-available solutions due to its AutoML engine, enabling a “zero code” approach that reduces development time, cost, and expertise required for new applications. Developed in collaboration with the Medical University Vienna, the platform’s proof of concept for cancer applications has been published in reputable peer-reviewed journals.
Telix’s own AI platform, Telix AI™, in partnership with Invicro LLC, automates lesion classification, enhancing efficiency and standardization in imaging workflows. With the acquisition of Dedicaid, Telix aims to rapidly generate complementary CDSS applications, augmenting its radiopharmaceutical pipeline with predictive capabilities alongside imaging analysis.
Dr. Michael Wheatcroft, Telix’s Chief Scientist, emphasized that the acquisition empowers the Company to generate new applications swiftly, aiding clinicians in predicting disease progression and treatment response. This acquisition will accelerate Telix’s AI platform development, facilitating a streamlined regulatory pathway. Validation activities and regulatory submissions for the AI platform as a ‘software as a medical device’ are targeted for completion in 2023.
The purchase price consists of an upfront equity payment of €1.1 million, with an additional €1.1 million earn-out subject to U.S. regulatory approval, payable in cash or equity at Telix’s discretion. Telix will issue ordinary shares as consideration for the acquisition, within its Listing Rule 7.1 placement capacity, with a portion subject to a 12-month escrow period. Telix will gain full ownership of Dedicaid’s AI Platform’s intellectual property following the acquisition.
The acquisition of Dedicaid marks a significant step forward in Telix’s mission to use medical imaging to inform and guide optimal treatment pathways, further solidifying the Company’s position as a leader in AI-enabled theranostics.
Conlcusion:
Telix Pharmaceuticals’ acquisition of Dedicaid GmbH and the expansion of its AI capabilities signify a significant development in the market of medical imaging and treatment decision-making. The addition of Dedicaid’s AI platform, with its ability to generate indication-specific CDSS applications, provides Telix with a competitive edge in the field of AI-enabled theranostics. This strategic move positions Telix as a key player in leveraging medical imaging data to support clinicians in predicting disease progression, treatment response, and optimizing treatment pathways.
The streamlined development and regulatory pathway offered by Dedicaid’s AutoML engine further strengthens Telix’s ability to rapidly bring new applications to market. This advancement not only enhances Telix’s market position but also holds promising implications for the broader healthcare industry, where AI-enabled technologies continue to revolutionize patient care and clinical decision-making.
