by John R. Fischer
, Senior Reporter | June 12, 2020
CorTechs Labs, a designer of quantitative neuroimaging software, has merged with its sister company, HealthLytix, a provider of applications for medical imaging and genetics.
The move enables CorTechs Labs to offer its software as a tool for improving screening and early detection of certain cancers.
"With a better understanding of disease pathology, the need for diagnostic tools that provide fast and accurate diagnostic support are in high demand,” said Chris Airriess, chief executive officer of CorTechs Labs, in a statement. “By combining the resources of HeathLytix and CorTechs Labs, we will create commercial synergies that accelerate product development, positioning us to best meet these demands.”
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The merger between the two expedites market access, an important objective in light of the recent FDA clearance of HealthLytix’s RSI-MRI+ for Prostate, an imaging software that improves early detection and diagnosis of prostate cancer. It also is pending approval for early detection and diagnosis of brain cancer.
Other AI-based radiology products that CorTechs Labs will have access to as a result of the agreement include NeuroQuant, the first FDA-cleared software for volumetric MR processing; LesionQuant, which enables quick automated lesion segmentation and quantification, specifically FLAIR lesion and brain structure quantification; PETQuant, which provides rapid automated analysis of PET brain studies to quantify subregional tracer binding in native patient brain space; and CT CoPilot, an FDA-cleared quantitative imaging solution that provides consistent views of head CT exams and automated quantitative measurements to improve workflow efficiency, measurement accuracy and clinical confidence.
CorTechs Labs has added a number of capabilities throughout the pandemic, including interpretable AI for chest X-ray and integrated genetic risk analysis. The combination of both companies’ resources is expected to improve screening and early detection for prostate cancer and soon brain cancer, as well as for neurodegenerative diseases, such as Alzheimer's disease, epilepsy, multiple sclerosis and brain trauma.
"We know the immense value of our technology in catching cancer early,” Dr. Nathan White, chief technology officer of CorTechs Labs, co-inventor of RSI-MRI+ and previously chief executive officer of HealthLytix, said in a statement. “By combining our resources, we can expedite our path to market and deliver this technology to the physicians who will use it, and trust it, to optimize cancer diagnosis and care for patients."
CorTechs Labs will retain its brand name, as well as Airriess as its CEO. White will be chief technology officer and the board of directors will remain largely the same, with healthcare industry leaders that composed each of the previous boards.