Tilburg – 18 january 2021 – CbusineZ, the venture capital investor liaised to health insurer CZ, will together with a group of private investors, invest in the startup Angiogenesis Analytics. Angiogenesis Analytics has developed a method to combine ultrasound images with AI to diagnose prostate cancer.
The intelligent software, called PCaVision, is the result of many years of academic research. This technology uses standard ultrasound images of the prostate. With the help of AI, these images are enriched, making it possible to detect and localise prostate cancer. The technology can be applied by the urologist and the results are available immediately.
With the participation of this group of investors, Angiogenesis Analytics expects to be able to bring a validated solution to the market within four years. “With this investment, we can further develop the algorithms, start clinical trials and apply for certification for the European market” says Mark Bloemendaal, CEO of Angiogenesis Analytics.
Most common type of cancer in men
Prostate cancer is the most common type of cancer in men. One in seven men will be diagnosed with it over the course of their life. In the Netherlands, 40.000 men are suspected of having prostate cancer every year, and over 13.000 men are actually diagnosed with it. An early diagnosis and the ability to start the right treatment is important for survival rates and quality of life.
For the further development, validation and implementation, a consortium of market players is being formed – among them clinical partners, technical partners and policy makers. “With CbusineZ we add a valuable partner to our team, to help us realise our ambition. Together with our founders TU/e, NLC – the Healthtech Venture Builder, and other partners, they form a powerful alliance that offers support in all phases of development” says Bloemendaal.
CbusineZ hopes that this investment will help improve the treatment of prostate cancer in the Netherlands. “We are very pleased with this collaboration. With this technology, we’ll be able to provide better and more efficient care in the Netherlands.” says Rogier van der Hooft, Board of Directors of CbusineZ.
About Angiogenesis Analytics
Angiogenesis Analytics is a software company, based in Den Bosch in the Netherlands, that uses Artificial Intelligence to diagnose various types of cancer using ultrasound. The first product, PCaVision, is aimed at diagnosing prostate cancer. Angiogenesis Analytics was founded in 2018 by TU/e and NLC – the European Healthtech Venture Builder.
CbusineZ is a private equity firm liaised to health insurer CZ, that aims to realise and speed up the launch of innovations in healthcare. CbusineZ invests in young, innovative companies that have the potential to create a big impact in healthcare. In the past 20 years, CbusineZ has supported over 30 innovative companies.