Optellum

Optellum is a commercial-stage lung health company that provides an artificial intelligence (AI) decision-support software platform called Virtual Nodule Clinic. This breakthrough technology assists physicians in the early diagnosis and optimal treatment of lung cancer. The Virtual Nodule Clinic integrates a clinically validated Lung Cancer Prediction (LCP) score based on imaging AI or "Radiomics" to identify and track at-risk patients who present suspicious lung nodules that may or may not be cancerous. By enabling early intervention, the software aims to get patients treated before the disease metastasizes, thereby increasing lung cancer survival rates.

Lung cancer has the highest mortality rate of all cancers, with the current five-year survival rate at only 20%. However, the survival rate for small tumors treated at Stage IA is up to 90%, highlighting the critical need for early diagnosis and treatment. Optellum's technology has the potential to improve clinical care coordination and decisions by distinguishing benign from malignant nodules and minimizing invasive procedures such as biopsies on benign lesions.

In March 2022, Optellum attained CE marking for its Virtual Nodule Clinic, allowing its use in the European Union (EU) and the UK (UK). This followed the company's FDA 510(k) clearance in early 2021 as the first AI-assisted diagnosis application for lung cancer in the US. In June 2022, the Centers for Medicare & Medicaid Services (CMS) established a national payment rate for Optellum's Lung Cancer Prediction technology under the New Technology Ambulatory Payment Classification, facilitating reimbursement for the use of this innovative technology with Medicare patients.

Optellum's Virtual Nodule Clinic is currently being piloted at ten NHS hospitals as part of the DOLCE study, a landmark research project aimed at evaluating the technology's potential to save costs by reducing the need for repeat CT scans. The company is also the lead industrial partner in the UK's DART consortium, working with NHS England's Targeted Lung Health Check program to provide lung cancer screening to approximately 600,000 eligible people.

In September 2022, Optellum raised USD 14 million in a Series A funding round led by Mercia, with additional investors including Intuitive Ventures and Black Opal Ventures. This funding will support the company's commercial expansion, research and development efforts, and the integration of its platform with liquid biopsies, robotics, and drug therapies to enable personalized therapy decisions.

Optellum has formed strategic collaborations with GE healthcare and the Lung Cancer Initiative at Johnson & Johnson to accelerate the clinical deployment and advancement of its platform.

In August 2022, Optellum was acquired by an undisclosed company.