Telix acquires AI company Dedicaid
Australian biopharma company Telix Pharmaceuticals Limited is expanding its artificial intelligence (AI) capabilities with the signing of an agreement to acquire Austria-based Dedicaid GmbH, a spin-off of Medical University Vienna.
Dedicaid’s core asset is a clinical decision support software (CDSS) AI platform capable of quickly generating indication-specific CDSS applications from available data sets, for use with positron emission tomography (PET) and other imaging modalities. Each CDSS application is trained to predict outcomes such as disease severity, risks to patients and/or inform treatment decisions.
The AI platform is also well differentiated from commercially available AI solutions currently used in PSMA-PET imaging, which are limited to supporting clinicians in image interpretation and reading – without predictive capabilities. This differentiation is driven by the AutoML (automated machine learning) engine that Dedicaid developed behind the AI platform, effectively meaning it is a “zero code” solution.
This greatly reduces the time, cost, and level of expertise required to build, test, and validate new CDSS applications, facilitating a simplified development and regulatory pathway for each new application.
This technology has been developed by Dedicated in collaboration with the Medical University Vienna, with proof of concept of machine learning methodologies and applications developed for prostate, breast and lung cancer published in a peer-reviewed journal.
This acquisition accelerates development of the Telix AI platform – AI Telix – by adding predictive capabilities alongside an imaging analysis module, developed in partnership with Invicro LLC, which automates lesion classification to support greater efficiency and standardization in imaging workflows.
The acquisition will provide Telix with the ability to quickly produce CDSS applications that complement the company’s radiopharmaceutical pipeline. Following the completion of the transaction, Telix aims to complete validation activities and regulatory filings in the US and Europe for its AI platform as ‘software as a medical device’ during 2023.
AI adds a new dimension
Michael Wheatcroft, chief scientist at Telix said: “AI adds a new dimension of support to doctors and patients by using data generated through medical imaging to facilitate timely and effective clinical decision making. This acquisition provides Telix with a powerful AI development platform that greatly enhances our ability to rapidly generate new applications from clinical imaging data. These applications have the potential to assist clinicians in predicting disease progression and treatment response, thereby enhancing and differentiating Telix’s AI offering. It is also intrinsically aligned with the philosophy behind theranostics – which is using insights from medical imaging to inform and guide optimal treatment pathways.”
Thomas Beyer, co-founder and CEO of Dedicaid and head of the research domain ‘Quantitative Imaging and Medical Physics (QIMP)’ of the Medical University Vienna, said: “We have built the Dedicaid platform with the mission of enriching medical imaging with artificial intelligence to help clinicians navigate complex tasks. to diagnose and treat cancer and provide advanced patient care. After extensive research and validation, we are excited that Dedicaid will now become part of Telix to complete the transition of this technology to the commercial stage.”
The purchase price was €1.1 million ($1.2 million) up front, payable in equity, and an additional €1.1 million in earnings subject to achieving regulatory approval in the US, paid in cash or equity. Following the acquisition, Telix will own all intellectual property related to the Dedicaid AI Platform.
About Telix Pharmaceuticals
Telix is focused on the development and commercialization of diagnostic and therapeutic radiopharmaceuticals. Telix is headquartered in Melbourne, Australia with international operations in the US, Belgium, Switzerland and Japan. Telix is developing a portfolio of clinical-stage products aimed at meeting significant unmet medical needs in oncology and rare diseases.
Telix’s principal product, Illuccix (gallium-68 (68Ga) gozetotide (also known as 68Ga PSMA-11 injection), has been approved by the US Food and Drug Administration (FDA), the Australian Therapeutic Goods Administration (TGA), and by Health Canada. Telix are also developing a marketing authorization application for this investigative candidate in the UK