6 AI Companies Set to Rock the Medtech World

There are six companies with AI-based innovations that everyone in medtech should be watching and talking about.

  • There’s no denying that artificial intelligence (AI) is becoming more prevalent in medical devices. AI is more than just a fad, or a trendy buzz word used in press releases to describe a new technology. No, AI is fundamentally making medical devices more efficient and more precise. Here are six companies that have combined AI with their technologies to create devices that could be game changers for medtech.

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  • Banyan Biomarkers

    Banyan Biomarkers is one of the first companies to bring a blood-based test to aid in the detection of traumatic brain injuries and concussions to the U.S. market. In February, the San Diego-based company was granted a de novo request from FDA for the Banyan Brain Trauma Indicator. The test identifies two brain-specific protein biomarkers (Ubiquitin Carboxy-terminal Hydrolase-L1 or UCH-L1 and Glial Fibrilliary Acidic Protein or GFAP) that rapidly appear in the blood after a brain injury.

     

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  • Freenome

    Freenome is using AI to develop a colorectal cancer screening application that can learn from its mistakes. In May Freenome initiated AI-EMERGE, a clinical study for the AI-Genomics blood test, which will collect samples from up to 3,000 patients in the U.S. and Canada.

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  • IDx

    In April, FDA granted a de novo request to market IDx’s AI-based diagnostic system for the autonomous detection of diabetic retinopathy, which can lead to blindness. The IDx-DR solution involves a small robotic camera that takes images of the eye. An AI algorithm then analyzes the image taken from the camera of the patient’s retina and helps  make a determination if a diabetes patient is suffering from retinopathy.

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  • Viz.ai

    Viz.ai’s Contact application is a type of clinical decision support software designed to analyze CT results that could notify providers of a potential stroke in their patients. Once the Contact Application analyzes the CT images it sends a text notification to a neurovascular specialist if a suspected large vessel blockage has been identified. The algorithm then automatically notifies the specialist during the same time the first-line provider is conducting a standard review of the images, potentially involving the specialist sooner than the usual standard of care in which patients wait for a radiologist to review the images.

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  • Ava

    Women’s health startup Ava has combined AI and wearables -two of the fastest growing segments in medtech – to develop a fertility tracking mobile device. In May, Ava, a startup, has raised about $30 million in a series B round.

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  • Beta Bionics

    Beta Bionics is a company on the move. The startup is combining AI and CGM to develop a device known as the iLet bionic pancreas system and in May the firm received IDE approval for a trial. The iLet consists of a dual-chamber, autonomous, infusion pump that mimics a biological pancreas. The body-worn device contains a little cartridge with insulin in it. The device is connected to the body through a tube with insulin. There is also a two-hormone version of the technology, so it can be configured to use insulin or glucagon. 

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