MELBOURNE, AUSTRALIA: Melbourne-based Telix Pharmaceuticals Limited (ASX: TLX) has signed an agreement to acquire Dedicaid GmbH, a Vienna-based clinical decision support software (CDSS) AI platform provider.
The acquisition will expand Telix’s artificial intelligence (AI) capabilities, adding predictive capabilities alongside the imaging analysis module being developed in partnership with Invicro LLC.
Dedicaid’s AI platform, powered by an AutoML engine, is a “zero code” solution that generates indication-specific CDSS applications for use with positron emission tomography (PET) and other imaging modalities.
The technology has already demonstrated proof of concept in prostate, breast, and lung cancer applications.
The acquisition will enable Telix to streamline the development of new CDSS applications that complement the company’s radiopharmaceutical pipeline, and to complete the regulatory process for FDA 510(k) and CE Mark approval for the AI platform as a medical device.
Under the terms of the acquisition, Telix will pay €1.1 million upfront in equity, with a further €1.1 million earn-out subject to regulatory approval in the U.S.
Telix will issue ordinary shares to the vendor for the acquisition within its Listing Rule 7.1 placement capacity. After completion, Telix will own all intellectual property related to the Dedicaid AI Platform.
Dr. Michael Wheatcroft, Chief Scientist at Telix, noted that AI adds a new dimension of support for clinicians and patients by using data generated through medical imaging to facilitate timely and effective clinical decision making.
The acquisition of Dedicaid provides Telix with a powerful AI development platform that enhances its ability to rapidly generate new applications from clinical imaging data.
Thomas Beyer, Co-founder and CEO of Dedicaid, commented that the company had built the Dedicaid platform with the mission of enriching medical imaging with AI to help clinicians navigate the complex task of diagnosing and treating cancer and deliver state-of-the-art patient care.
Dedicaid is excited to become part of Telix and complete the transition of this technology to commercial stage.
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