Interview with Chris Wood, CEO and Chair of Lung Cancer Improvement Company, discussed at RevealDx
RevealDx: Revolutionizing Lung Cancer Diagnosis with AI-Powered Software
RevealDx, a cutting-edge healthcare technology company, is shaking up the medical imaging industry with its AI-driven lung cancer decision support software. At the helm of this innovative venture is Chris Wood, a medical physicist and three-time entrepreneur with a deep-rooted passion for diagnostic imaging software [1].
Before founding RevealDx, Wood honed his expertise working for major OEMs in the medical imaging industry, including Siemens. His entrepreneurial journey began with the establishment of three medical imaging software companies, each focused on leveraging diagnostic imaging technologies to improve patient outcomes [1].
The inspiration for RevealDx came from a company that had completed significant scientific development but had not commercialized its product due to various barriers. In March 2021, Wood and a small group of investors acquired the assets of this company, leveraging a five-year technological head start to launch RevealDx [1].
The company's first product, RevealAI-Lung, provides a 'Malignancy Similarity Index' for each lung nodule found in a chest CT exam, aiming to improve lung cancer treatment outcomes through advanced radiomics and AI-enabled software [1]. This innovative technology sets RevealDx apart from its competitors, offering higher performance and more generalizability, as demonstrated in its studies [1].
RevealDx has already made significant strides in the regulatory landscape, having advance meetings with the FDA to discuss clearance and devise a strategy using predicate devices and other guidance documents [1]. The company expects to do its first institutional round of funding right after FDA clearance [1].
Discussions with several possible lead investors have already started, and the total addressable market (TAM) size in the US is at least $2 billion, with a likely half-size TAM for the rest of the world [1]. However, the capital raised by the company so far has been relatively small [1].
One of the most significant milestones for RevealDx was the publication of a landmark study in the Journal of the American College of Radiology, marking a significant step forward in validating the company's technology [1]. Another notable achievement was the first use of the company's product by a customer in the EU, which marked a significant expansion for the company [1].
A patient success story highlights the potential impact of RevealDx's technology. In one instance, the company's product flagged a possible cancer that was later confirmed, potentially changing the course of the patient's care significantly [1]. Chris Wood's favorite memory working for the company was when the AI-assisted diagnosis outperformed radiologists using guidelines [1].
As the regulatory environment around the use of AI in healthcare rapidly evolves, with no guidance document for computer-aided diagnosis, RevealDx is poised to lead the way in this exciting and rapidly changing field. The company plans to continue expanding in lung cancer diagnosis after FDA clearance [1].
[1] Pulse 2.0 interview with Chris Wood, CEO and Chairman of RevealDx.
- In the field of health and wellness, RevealDx, a medical imaging technology company, is pioneering the use of artificial intelligence (AI) to revolutionize the diagnosis of medical conditions such as cancer, specifically lung cancer, by developing an AI-driven decision support software.
- Chris Wood, the medical physicist and three-time entrepreneur at the helm of RevealDx, has a passion for diagnostic imaging software and aims to improve patient outcomes through advanced AI and radiomics technology, such as the recently developed RevealAI-Lung.
- With its innovative AI technology, RevealDx aspires to impact the treatment outcomes for various health-related issues, including cancer, by providing a 'Malignancy Similarity Index' for each lung nodule found in a chest CT exam, thereby leveraging technology to revolutionize the science of medical diagnosis and treatment.
