BioTrace SIGNED

Project "BioTrace" data sheet

The following table provides information about the project.

 Partnership

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 Project objective

Cancer treatment resection or surgery is currently the gold standard to remove tumours, but it is risky for patients and a costly process (average cost of €28.000 per surgery). Ablation is a minimally invasive technique and the best alternative to surgery (€1,300). However, its use is still limited to treat patients with smaller tumours or patients unfit for surgery, due to its high unpredictability, as there is currently no way of knowing the extent of the lesion during and after the intervention (cells continue dying for up to 24 hours after the intervention due to thermal effects). Thus, undertreatment or over treatment frequently occur, the latest leading to up to 40% recurrence. Our solution, BioTrace, is the only device able to monitor in real-time the extent of the lesion during the ablation procedure and predicts its outcome 24 hours post-treatment. It works by keeping track of the tissue's biological response to the heat using AI-based algorithms. With BioTrace physicians are alerted when damage is observed outside the surgical margin, which enables them to determine its progression 24 hours after the procedure (as proven in a clinical study conducted with 54 standard TA procedures in University of Tokyo Hospital (UTH)). BioTrace will be a game-changer in the ablation technology industry by improving success rates and reducing costs for the healthcare system. Its market opportunity is large since it can be applied not only in the interventional oncology area, but in other areas, such as electrophysiology (for treating cardiac arrhythmias) and neurotomy (for pain management). We foresee that we will need €3 million to complete phase 2 and reach the liver market as a standalone system. Considering a growth of the global ablation market of 35% (2017-2023), in the fifth year of sales we estimate to reach revenues of 10.8M and a ROI of 0.38. During the feasibility study we will further assess the technical, commercial and financial viability of our project.