AI-First Approach to Cancer Diagnostics Earns Ibex Medical Analytics Notable Milestones
August 27 2024 - 8:05AM
Business Wire
178% Surge in New Customers; Validation
Study Conducted with Quest Diagnostics; In Vitro Diagnostic
Devices Regulation (IVDR) Certification and Welcomes Ann Costello
to its Board of Directors
Ibex Medical Analytics (Ibex), the leader in artificial
intelligence (AI)-powered cancer diagnostics, today announced major
advancements in customer growth, validation through a Quest
Diagnostics study, regulatory approvals and expansion of its Board
of Directors.
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Ibex exemplifies that AI-powered cancer diagnostics and digital
pathology are not the future but the present, with pathologists
using their cutting edge-technology and tools in routine practice
around the world. The company has seen a 157% increase in patient
cases processed monthly via Ibex’s AI solution and 178% rise in new
customers, reflecting its expanded global reach and commitment to
collaborating closely with pathologists to enhance diagnostic
accuracy, efficiency and helping improve patient outcomes.
Ibex's commitment to clinical excellence was validated through
recent In Vitro Diagnostic Medical Devices Regulation (IVDR)
Certifications, as well as data published in a recent study with
Quest Diagnostics on the impact of AI-powered workflows. With a new
addition to its Board of Directors and key collaborations driving
innovation, Ibex continues to strengthen its position at the
forefront of AI-driven healthcare solutions.
Quest Diagnostics study demonstrates the value Ibex’s AI
brings to digital pathology workflows
Ibex’s Prostate AI solution, integrated into Proscia’s
Concentriq® enterprise pathology platform, allowed pathologists at
Quest Diagnostics to be able to sign out significantly more cases
per hour. The offering was designed to assist pathologists in
improving the detection and grading of prostate cancer by
streamlining pathologists’ review of tissue samples that have been
scanned at high resolution to create digital slides, or whole slide
images, which pathologists can then view.
The study included 180 randomized prostate cases from adult (21
or older) subjects. 100% of the pathologists who participated in
the study stated they would be much more likely to adopt AI at the
study’s conclusion. Quest Diagnostics, through its AmeriPath and
Dermpath Diagnostics subspecialty pathology businesses, employs
over 400 pathologists within its nationwide network of clinical
laboratories.
“Digital pathology has the potential to improve efficiency while
saving pathologists valuable time – time they can use to advance
patient care through collaboration with colleagues and the
multidisciplinary cancer care team,” said Darren Wheeler, MD, vice
president of pathology and medical services at Quest Diagnostics.
“This study with Ibex and Proscia shows pathology workflows are
evolving, and we intend to remain at the forefront of this
innovation.”
View and download the study in its entirety here.
In Vitro Diagnostic Regulation (IVDR) Certification
Achievements
Ibex also announced the In Vitro Diagnostic Regulation (IVDR)
certification of its prostate, breast, and gastric AI solutions.
The IVDR certificate was received following a meticulous review
process, as required by the new regulations in the EU, reflecting
trust of the regulator in the quality, safety and performance of
the product.
“Securing IVDR certification for our prostate, breast, and
gastric diagnostic solutions marks a pivotal achievement for Ibex,
highlighting our commitment to superior product quality and
innovation in AI-powered diagnostics,” said Joseph Mossel, CEO at
Ibex. “As we progress in the second half of the year and into 2025,
these milestones not only solidify our market position but also
reflect our ongoing dedication to providing clinicians with
advanced tools that enhance diagnostic accuracy and improve patient
outcomes. Our focus remains on being the most widely deployed AI
platform in pathology, delivering high-quality solutions that set
new standards in healthcare.”
Ann Costello Joins Ibex Board of Directors
Ibex welcomed Ann Costello to its Board of Directors in April.
With a distinguished career in diagnostics, including leading Roche
Diagnostics Solutions, Ann brings invaluable expertise in clinical
chemistry, immunology, anatomical pathology, molecular diagnostics,
and next-generation sequencing. "We are thrilled to have Ann join
Ibex's Board of Directors. Her deep knowledge of cancer diagnostics
and leadership will be instrumental in guiding our strategic
growth," said Mossel.
This follows Ibex’s $62 million Series C financing round led by
83North. Additional participants in the round were Sienna Venture
Capital, Lip Ventures and existing investors in the company,
Octopus Ventures, aMoon, Planven Entrepreneur Ventures and Dell
Technologies Capital. The financing brings total funding to over
$100 million since Ibex’s inception in 2016.
About Ibex Medical Analytics
Ibex Medical Analytics is transforming cancer diagnostics with
clinical grade AI powered solutions for pathology. Empowering
clinicians and supporting pathologists, Ibex is on a mission to
provide accurate, timely and personalized cancer diagnosis for
every patient. Ibex is the first and most widely deployed
AI-powered platform in pathology. Pathologists worldwide use Ibex
as part of their everyday routine to improve the accuracy of cancer
diagnosis, implement comprehensive quality control measures, reduce
turnaround times, and boost productivity with more efficient
workflows. For additional company information, please visit
https://ibex-ai.com/and follow us on LinkedIn and Twitter.
*The Ibex suite includes solutions which are for Research Use
Only (RUO) in the United States and not cleared by the FDA.
Multiple solutions are CE marked (IVDD and IVDR) and registered
with the UK Healthcare products Regulatory Agency (MHRA). For more
information, including indication for use and regulatory approval
in other countries, contact Ibex Medical Analytics.
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Abby Ramsay Greenough Communications
aramsay@greenoughagency.com