Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - FastFinder (Artificial intelligence for automated, standardised interpretation of DNA testing results)

Teaser

UgenTec’s (Belgium, 2014) FastFinder technology was developed for automatic, fast, objective and accurate processing and interpretation of high troughput qPCR testing results, the only part of the DNA analysis workflow that is currently not routinely automated. UgenTec aims...

Summary

UgenTec’s (Belgium, 2014) FastFinder technology was developed for automatic, fast, objective and accurate processing and interpretation of high troughput qPCR testing results, the only part of the DNA analysis workflow that is currently not routinely automated. UgenTec aims to achieve successful worldwide market introduction of FastFinder by 2019 and to reach a significant market share in the niche market of PCR analysis software by 2023. UgenTec will deploy FastFinder along 3 focus areas:
1. deepening market adoption in clinical diagnostics, both inside and outside the EU;
2. enter “new” market segments, including agribio, animal health, food safety and quality;
3. commercialise proprietary middleware to automate the entire DNA analysis workflow in a single software.

Work performed

UgenTec conducted a market, technological and economic feasibility study. To obtain full scale commercialisation and market uptake, additional efforts are needed:
• additional modules for FastFinder:
o to accelerate development and validation of new analyses
o to enable genetic analysis, on top of PCR analysis
o middleware to automate the entire workflow in a single software
o On-premise and server-side solutions to enable FastFinder operation outside of the cloud.
• To demonstrate ROI in new market segments, pilot studies will be conducted with early adopter clients.
• Obtain FDA approval for US market entry. Validate regulatory compliance in new market segments through pilot studies.
• Finalisation of go-to-market strategy, including pricing strategies per market segment. Strong FTE growth and reorganisation is needed in the commercial department.

Final results

Public health expenditure in the EU is rising, projected at 8.5% of GDP in 2060, driven by an ageing population and associated rise in chronic diseases and the promotion of personalised healthcare, demanding molecular information. There is a clear market pull for automated solutions: as genetic testing volumes are growing every year and quality standards become stricter, the lab budgets are coming under pressure. UgenTec has developed the FastFinder software platform, advancing state of the art artificial intelligence and machine learning algorithms to automate the interpretation of results in the genetic testing workflow. FastFinder USP allows interpretation 30 times faster than manual interpretation and removes human errors. Platform application potential extends beyond a clinical setting (e.g. pharma, food safety) boosting commercial gain.

Website & more info

More info: http://www.ugentec.com.