Medicalgorithmics, a Warsaw Stock Exchange-listed developer of globally innovative AI solutions for the cardiology industry, has signed an agreement with PARP to support its innovative Kardiobeat.CT project. Under the agreement, the Company will receive PLN 9.4 million in funding from PARP to support the project as part of the SMART Path initiative. The aim of this innovative Polish medtech project is to create an innovative diagnostic tool for the automatic detection and assessment of atherosclerotic plaques. The new project covers research and development work on artificial intelligence algorithms for the automatic analysis of cardiac CT images. The Company’s selection by PARP for the project was announced in July this year, and its total value is PLN 19.1 million.
– The signing of the agreement with PARP will allow us to obtain PLN 9.4 million in funding in the near future for the development of a very important and groundbreaking technology involving new artificial intelligence algorithms for the automatic detection and analysis of atherosclerotic plaque. The development of the project will significantly strengthen our technological capabilities and allow us to generate additional revenue in the future – comments dr Kris Siemionow, CEO Medicalgorithmics.
Medicalgorithmics has already successfully launched its groundbreaking DRAI software and DRP platform, described in Nature Medicine and the DRAI Martini study, and is rapidly developing its unique VCAST technology, which uses AI in cardiac imaging to support physicians in diagnosing coronary artery disease. It offers a fast and non-invasive alternative at a fraction of the cost of traditional, much more complex and highly invasive diagnostic methods such as coronary angiography. The Kardiobeat.CT project will strengthen the Company’s product offering in the field of cardiac imaging and will join the already commercialized VCAST product, extending the functionality of this unique Polish medtech technology.
– Research and development is very important to us in the context of developing a portfolio of AI-based solutions that can be used in the broadly understood field of cardiology. However, we attach great importance to the practical application of the products we develop. We already have three agreements for VCAST technology, which forms the basis of the project. It is also being used by researchers at Lund University as part of the world’s most comprehensive cardiac imaging project, involving more than 30,000 people. These activities bring us closer to proving its effectiveness on a par with R&D research. – adds Kris Siemionow.
Despite advanced R&D work on the VCAST project, the company has already signed the first three distribution agreements for this innovative technology. This year, Medicalgrithmics has gained partners from the Turkish, Scandinavian, and Saudi Arabian markets. In total, since the beginning of this year, the medtech company listed on the Warsaw Stock Exchange has gained a record number of new customers (19 – more than in the whole of 2024). The new agreements include, among others, an agreement with one of the five largest American IDTFs, an agreement with a European IDTF, and an agreement with an American deep tech company specializing in the integration of advanced materials, sensors, and artificial intelligence.