Volpara Health Technologies (ASX:VHT), a New Zealand-based medical technology company whose artificial intelligence imaging algorithms are designed to assist the early detection of breast cancer, has announced a distribution agreement with AI software company ScreenPoint Medical BV.
Under the terms of the five-year non-exclusive revenue sharing agreement, Volpara will distribute ScreenPoint’s Transpara product to breast imaging clinics in Australia, New Zealand, the US and parts of Asia.
Transpara is next-generation computer-aided detection software designed to help radiologists read screening mammograms by marking specific areas of the breast image as likely being cancer or not.
Dr Ralph Highnam, Volpara CEO, said the ScreenPoint distribution agreement is significant because it enriches its offering to breast imaging centres.
“Critically, it helps expand the software toolkit that our sales people can sell and increases potential ARPU still further beyond the Volpara and MRS products,” said Dr Highnam said.
“Based on the clinical papers to date, we’re sure that Transpara is world leading and will be very successful commercially, especially when it achieves its US clearance from the Food and Drug Administration (FDA) for 3D breast images.”
ScreenPoint develops image-analysis technology for the automated reading of mammograms and digital breast tomosynthesis exams that exploit the latest AI developments. Founded by Professor Nico Karssemeijer and Professor Sir Mike Brady in 2014, ScreenPoint is based in the Netherlands.
“Compared to traditional computer-aided detection products for mammography, ScreenPoint’s Transpara Decision Support product delivers much more clinically useful information to the radiologist,” said Dr Ritse Mann, breast imaging specialist at Radboud University Medical Center, Nijmegen. “I can use Transpara as a second reader, and its opinion is as good as that of a colleague,” he said.
“As a co-founder, I am excited that ScreenPoint and Volpara will now partner to bring Transpara, our AI solution for breast cancer detection, to the United States and other markets. Volpara is well established in the breast space globally, and together the two companies can work to help breast practices improve cancer detection and streamline mammography readings” said Professor Karssemeijer.
Dr Highnam added, “Professor Karssemeijer’s seminal works on automated detection, and more recently machine learning and AI, are globally recognized as first class, and we’re delighted to have ScreenPoint join our common cause. Adding an important product like Transpara Decision Support is a perfect step for us.”