Medical Devices DECODED
Previous edition: 13 May 2024
Share article
Get the full version straight to your inbox.
Exclusive access to our best-in-class data & intelligence
Subscribe now
Triomics wins $15m for oncology GenAI software
Triomics's GenAI platform helps cancer centres streamline administrative tasks.
Triomics has raised $15m to further develop its oncology-specialised generative AI (GenAI) platform OncoLLM.
OncoLLM is designed to help cancer centres process oncology data at scale and integrates with health system electronic health records (EHR) to complete specific clinical and administrative tasks.
Triomics Prism software pre-screens oncology patients with upcoming appointments to match them to relevant clinical trials while its Harmony software curates EHR data to support reporting, cohort analysis and precision oncology.
After developing an OncoLLM with the Medical College of Wisconsin, a Triomics trial found that within minutes, the platform could identify 90% of eligible patients for clinical trials – a process that could potentially take weeks for qualified nurses to determine.
The trial also found that OncoLLM surpassed the performance of other large language models (LLM), including Mixtral, Qwen and GPT-3.5, as well as matched the capabilities of GPT-4.
Triomics co-founder and chief technology officer (CTO) Hrituraj Singh commented: “Our investments in our core areas of focus have been deliberate.
“We have successfully merged expertise in two complex functional areas: our AI researchers, who are specialised in customising language models to specific domains, and our clinical staff, who have decades of oncology-specific experience.
“As a result, our software can complement the strengths of these advanced models while also proactively addressing potential flaws, all with the intricacies of cancer research and care in mind.”
Bradley Taylor, chief research informatics officer at the Medical College of Wisconsin and director of the Clinical & Translational Sciences Institute (CTSI) Center for Biomedical Informatics commented: “Most of the solutions on the market today claim they use GenAI, but many lack published evidence.
“Triomics is setting themselves apart by taking a truly collaborative approach to co-developing these models.”
Participants in the Series A fundraising round included Silicon Valley-based firms Lightspeed, Nexus Venture Partners, General Catalyst and Y Combinator.
GlobalData estimates that the total AI market was worth $908.7bn in 2023 and forecasts that it will grow at a compound annual growth rate (CAGR) of 35% from 2022 to 2030. The company forecasts that the global specialised AI application market, which includes GenAI, will be worth $477.6bn in 2030.
Latest news
Dementia Action Week 2024: the future of Alzheimer's diagnostics
As the debate over using tau levels to guide patient treatment persists, the landscape for Alzheimer’s diagnostics continues to move ahead.
Siemens Healthineers announces £250m UK MRI facility
The Siemens Healthineers facility is designed to address a critical shortage in helium and is aimed at providing 1,300 jobs in the industry.
Field Medical begins ventricular PFA technology trial
The FieldForce Ablation System is intended for the treatment of life-threatening ventricular arrhythmias.
FDA approval paves way for Masimo's debut in OTC baby monitoring sector
The shift towards remote healthcare and increased interest in health monitoring at home has driven demand for advanced healthcare technologies, including baby monitoring systems.
Industry takes: the importance of keeping healthcare businesses cybersecure
Cybersecurity is vital for all industries, but there are in which breaches have more impact than healthcare.
UK NICE backs Exact's Oncotype cancer genomic test
The UK agency has recommended expanded use of Exact’s Oncotype DX test to help physicians make chemotherapy decisions for breast cancer patients.
In our previous edition
Medical Devices Decoded
Neuralink's first brain chip implant faces setback
10 May 2024
Medical Devices Decoded
FDA issues warning on Getinge device amid quality concerns
09 May 2024
Medical Devices Decoded
Samsung to acquire foetal ultrasound AI software company Sonio
08 May 2024
Newsletters in other sectors
Aerospace, Defence & Security
Automotive
Consumer
Medical Devices
Travel and Tourism
Search companies, themes, reports, as well as actionable data & insights spanning 22 global industries
Access more premium companies when you subscribe to Explorer