The grant comes from the €80 billion Horizon 2020 fund, the EU’s largest, which aims to back ‘breakthrough discoveries.’ Quantib’s promising prostate solution merited the selection.
Rotterdam, The Netherlands – June 30, 2020 – Quantib, market leader in artificial intelligence solutions for radiology, today announced its selection by the European Innovation Council (EIC) Accelerator fund for a €2.1 million grant, bringing total funding to over €12 million to date. The selection was based on the outstanding potential that the company’s prostate solution, on track to be the first of its kind worldwide, has to improve diagnosis, reduce costs, and improve patient outcomes.
Prostate cancer represents one in four of all cancer cases, yet accuracy, speed, invasiveness, and cost remain obstacles in diagnosis and eventual treatment. The EIC Accelerator grant will support Quantib to further develop its prostate solution which addresses these challenges, and to scale the solution to assist medical centers in the EU, US, and eventually, worldwide. With prostate cancer’s cost on medical systems in the EU totaling €9 billion annually and lifetime care of metastatic prostate cancer patients reaching €240,000 there is tremendous potential impact in improving the status quo.
“Quantib’s selection for a €2.1 million this Horizon 2020 grant is a major vote of confidence in the potential we have to further develop and scale a first of its kind AI solution for radiologists,” said Arthur Post Uiterweer, CEO of Quantib. “We are already trusted by some of the world’s leading medical centers for solutions addressing key pathologies, but with this new funding, we will not only be able to develop another effective solution, we will also be well en route to becoming the market leader in addressing a major form of cancer.”
Quantib was previously funded by Holland Capital, the Netherlands’ premier health tech investor, Innovation Quarter, the regional economic development agency for South Holland, and a series of EU and national grants and credits.
About Quantib
Quantib’s AI radiology solutions enable faster and more accurate diagnosis by quickly identifying abnormalities, supporting adequate and timely patient care. Using state-of-the-art artificial intelligence techniques, Quantib’s software advances the diagnostic pathway by providing FDA- cleared solutions for the radiology workflow. Current products and development focuses on neurodegeneration, prostate cancer, and breast cancer. Those solutions are deployed in an ever-growing list of leading medical centers worldwide.
Media Contact:
Ory Six
Strategic Marcom Manager
Quantib
o.six@quantib.com