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Endovision

Artificial intelligence in upper GI endoscopy

Market: Medicine, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 08.09.2020
Min investment
$  25.000
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Total required
$ 500.000
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Idea

Blind spots in the stomach cause 1 in 10 patients to be missed of early lesions such as cancer. Globally, it kills over 800,000 people each year, but it is a big problem especially in east asia, where it kills 600,000 people.

Our advanced Artificial intelligence system, which understands the entire upper gi tract, helps the doctors in real time to avoid those blind spots, and perform each endoscopy at par with the top clinician in the world.

Current Status

Product completed, working with Olympus ( 70% holder of endoscopy device market ) for distribution, starting from Hong Kong.

Market

AI unregulated - Hong Kong, followed by South east asia, south asia
Regulated - China, Korea.

Endoscopy is growing at 6.6% CAGR

Problem or Opportunity

Problem:
The average miss rate for the detection of gastric cancer is 10% [1]. Means, 1 out of 10 patients having cancer are missed by the doctor. Gastric cancer is the 4th leading cause of cancer deaths in Hong Kong [2], and is about 10 times more likely to occur to east Asians as compared to the rest of the world, due to ethnicity differences.

The learning curve for the doctors is very long, and it is very hard to learn to diagnose it with good accuracy. Also, the accuracy is operator dependent. Doctors get stressed and fatigued by repetitively doing the procedure, which leads to lower the accuracy by the day [3].

The demand for endoscopy is growing, due to an aging population, which has been proven to have a big cause of increasing cancer occurrences. The total number of trained doctors are not sufficient, and would never be sufficient for such a growing need.

Gastric cancer screening is advised in east asia, but so far, only Japan and South Korea have been able to implement it in its major cities. The number of trained doctors needed for such screening increases exponentially, which is the reason why China hasn’t been able to kickstart such programmes. According to world endoscopy organisation, every country in the world is facing substantial burden due to gastrointestinal diseases, and the current manpower of clinicians is insufficient to meet the demand.
800,000 people die annually of Gastric cancer, which is the 5th major cancer killer. 50% of the world's upper gastrointestinal cancers occur in China. More than 85% of the patients are diagnosed with late cancers, causing over 400,000 deaths each year

Solution (product or service)

Pipeline1: Our product is proposing the implementation of AI aided SSS protocol [4] ( systematic stomach screening, as proposed by Dr. Kenshi Yao ) for inspection completeness of stomach, and also other parts of the GI tract. The AI would be able to track the list of landmarks covered during the endoscopy. If a landmark is covered, AI would click the picture automatically for photo documentation. If a landmark is not covered, it would be highlighted, hence ensuring a high-quality procedure. We would also continuously integrate auto-reporting, along with photo documentation, saving a lot of the doctor’s time. This time could be utilized to treat more patients.

Competitors

Endoangel( China ) , Aims ( Japan ) , ai4gi ( USA ), Endobrain ( Japan )

Our niche is Quality improvement in upper-gi , which is not competitive at the moment.

Advantages or differentiators

collaboration with Olympus, unique positioning in hong kong, higher entry barrier in the field of video analysis using Artificial intelligence

Money will be spent on

Business development in Hong Kong
Expanding to parallel markets
Regulatory pathway development
Development of Product pipeline2

Offer for investor

Not devided, but we can either do a small round ( within 300k US$ ) as a bridge round, or a convertible note of smaller amounts ( about 50k each angel, preferably strategic )

Team or Management

5,00
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