Sycai Medical raises €3M to Enhance Early Detection of Abdominal Cancers

Sycai Medical, a health tech startup based in Barcelona, has raised €3 million in a recent funding round. The investment was led by a consortium of investors, including LUMO Labs, Ship2B Ventures, Athos Capital, and Namarel Ventures. This infusion of capital is poised to accelerate the development and deployment of Sycai Medical’s artificial intelligence (AI) solutions aimed at enhancing the early detection of abdominal cancers, with a particular focus on pancreatic cancer.

Company Overview

Founded in 2020, Sycai Medical is committed to enabling radiologists by combining AI and big data. The company is focused on the development of algorithms based on AI that help medical professionals diagnose abdominal injuries and their progression. It aims to make the quality of life for pancreatic lesion patients much better by giving them accurate diagnostic tools.

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Revolutionary AI-Driven Solutions

Sycai Medical’s flagship product is an AI assistant that can detect pre-cancerous pancreatic lesions when they are still benign. This assistant helps radiologists track lesions by describing them and comparing the latest images with earlier scans to check how they are changing. The software automatically reviews CT scans and MRIs for incidental findings without needing human intervention, making it easy to fit into the workflow of the radiologists.

Importance of Early Detection

Pancreatic cancer is among the leading causes of cancer death in Europe and has an average survival time from diagnosis to death of less than five months. It remains one of the most inefficiently detectable cancers to date. The ability to predict pancreatic cyst evolution would greatly increase the early detection rate and optimize follow-up treatments, thereby improving patient outcomes.

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Funding Details and Strategic Objectives

The €3 million funding round was led by LUMO Labs, Ship2B Ventures, Athos Capital, and Namarel Ventures as a consortium. This investment will enable Sycai Medical to do the following:

• Advance Product Development: Enhance capabilities in AI-powered diagnostic assistants for a broader scope of abdominal lesions.
• Expand Market Reach: Speed up commercialization in Europe and kick-start activities in the United States.
• Obtain regulatory approvals to allow market entry and facilitate adoption.
• Strengthen clinical collaborations: work with other hospitals and medical institutions to validate and fine-tune the technology.

Regulatory Milestone

In September 2024, Sycai Medical marked an important milestone as the company’s first product under the new Medical Devices Regulation (MDR) gained the CE marking. The firm can now sell its AI-based software throughout the European Union. This gives the company an edge as a forerunner in the application of AI in medical diagnostics.

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LEADERSHIP TEAM

Sycai Medical’s leadership is comprised of dedicated professionals with years of experience who want to bring technology and healthcare together.

• Sara Toledano (CEO): Mechanical engineer with an MBA and more than ten years of experience managing international innovation projects.
• Javier García (CTO): Robotics engineer with a PhD in Deep Learning, lecturer and researcher.
• Júlia Rodríguez-Comas (CSO): Postdoctoral research scientist with a PhD in Biomedicine.

Future Outlook

With the recent funding and regulatory achievements, Sycai Medical is well-positioned to revolutionize the early detection of abdominal cancers. The company aims to provide radiologists with tools that enhance diagnostic accuracy and efficiency, thereby improving patient outcomes, by leveraging AI and big data. The support from prominent investors underscores confidence in Sycai Medical’s vision and technological approach, setting the stage for significant advancements in medical diagnostics.

Summary

Barcelona-based startup Sycai Medical has raised €3 million in a funding round led by LUMO Labs, Ship2B Ventures, Athos Capital, and Namarel Ventures. The investment will be used to develop the company’s AI-driven solutions for early detection of abdominal cancers, particularly pancreatic cancer.