LUMO Labs’ pre-seed investment vehicle LUMO Fund II TTT AI announces an investment in Aiosyn. The Nijmegen-based start-up uses a clinical diagnostics platform with AI-powered pathology algorithms to support pathologists with more accurate and efficient clinical decision-making. LUMO Labs is the lead investor in a syndicate with The East Netherlands Development Agency (Oost NL). The total value of the investment is undisclosed, a press release by LUMO Labs states.
The Aiosyn team will use the money to expand pathologists’ access to artificial intelligence for the benefit of patients and society. “Investing in Aiosyn is an opportunity to improve how doctors around the world diagnose diseases”, said LUMO Labs founding partner Sven Bakkes.
This technology, developed at Radboud University Medical Center in Nijmegen, utilizes a powerful form of machine learning called “neural networks” (or deep learning) to identify abnormal tissue patterns such as cancer with unprecedented accuracy. Aiosyn algorithms will be integrated into standard pathology workflows. In addition, Aiosyn’s algorithms are used to accelerate the development of biomarker-based therapeutic and patient stratification strategies for biopharma and diagnostics companies.
LUMO Labs’ focus on AI and health and well-being makes them the “natural choice” for funding, said Patrick de Boer, Aiosyn co-founder and CEO. “We are very much aligned on the entrepreneurial and business aspects of such a partnership. Having LUMO Labs on board as our lead investor for this round, together with Oost NL, opens up a whole new range of opportunities.”
Aiosyn originates from the group of Jeroen van der Laak, head of the Computational Pathology Group from Radboud University Medical Center (Radboudumc), who will also lead the scientific work of the company.
Understanding diseases
“The Aiosyn platform increases the understanding of diseases and, by extension, the quality of healthcare,” said LUMO Labs founding partner Andy Lürling. “Its highly scalable interface will allow doctors around the world, including those in developing countries, to gain access to in-depth expertise and diagnostic support.”
“Aiosyn’s exciting artificial intelligence technology perfectly positions her team to align with the digitalization wave within healthcare. With this investment the company will be able to grow the team in Nijmegen and further develop her products and services,” says Björn Schaap, investment manager Health at Oost NL.
“I am excited about the great potential of AI-powered diagnostics. Sustainable, inclusive healthcare requires accessible diagnostic tools that are highly reliable, effective, and efficient”, said Dennis Lammers, CFO at Radboudumc Holding. “As Radboudumc Holding, we see great potential in Aisoyn’s technology and team for the future of healthcare. We are delighted that LUMO Labs and Oost NL invest in this exceptional team and technology.”
With the investment consequently Aiosyn will enter LUMO Labs’ two-year venture building program.
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