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Koios Medical, Inc

A Newsweek "World's Best Digital Health Company". AI powered, life-saving software. Proven. Growing.

Last Funded November 2024

$9,313,960

raised from 447 investors

Highlights

VC-Backed

Raised $250K or more from a venture firm

Fast Growth

Revenue growing 2X/yr for at least prior 6 months

1
Rapidly growing market. AI assisted cancer detection. MRI accuracy at a fraction of the cost.
2
A Newsweek "World's Best Digital Health Company" for 2024.
3
$2B market opportunity. Worldwide network of clinical champions. 500+ sites. 35 countries.
4
Reimbursement eligible. CPT Codes (0689T, 0690T) issued. FDA, CE Mark, HealthCanada and more.

Featured Investors

Our Team

Invest in software with vision.

We are excited to introduce you to our exciting story, the future of SmartUltrasound and offer an investment opportunity normally reserved for, exclusive to professional, institutional investors and VC firms.
The first breast ultrasound exam interpretation supported by Koios SmartUltrasound was read by Dr. Lai Ming Yu in New York City on March 9, 2018. Since then, we have grown steadily, expanded our offering and now support physicians across the US and in 20+ countries around the world.
Recent surveys found patients prefer receiving care from physicians supported by AI more than two (67%) to one (29%) versus physicians acting alone.
Ranked #6 of most frequently billed AI solutions of the more than 700 AI solutions cleared by the FDA; all in less than 18 months since codes for the use of Koios DS were made available. Research indicates the availability of billing codes can lead to utilization that grows "exponentially".
Koios Medical operates at the intersection of two of the highest growth segments in healthcare and business overall: Ultrasound is the highest growth imaging modality, AND medical AI is forecasted for double digit growth over the next five years. Pending breast density notification going into effect in September is expected to spark a resurgence in ultrasound (demand) as a supplemental to mammograms for women with dense tissue.

Koios Medical's software was designed at the outset to pinpoint multiple pain points plaguing healthcare systems worldwide; specifically radiology, the mega service line that spans across all medical specialties. A "one to many" relationship exists whereby a single software solution can elevate quality, control costs, save time and help close the health equity gap simultaneously.
Lives are at stake. Although many solutions offer a promising range of benefits, few can match the life-saving impact of early cancer detection and accurate diagnosis. $1.6B is spent annually in the US on breast biopsies of which $1.3B are benign, negative; YET tens of thousands of breast and thyroid exam still miss, or deem as "interval cancers" to be found later, often after the possibility of effective treatment. Koios SmartUltrasound is already saving lives along with ultimately millions of dollars and hours of time wasted on avoidable procedures and too late-stage treatments.

SmartUltrasound was created from amassing a dataset comprised of what has grown to over 2M images along with pathology data that distills images down to the pixel level for patterns that are invisible to the human eye, building models that predict cancer and distinguish normal tissue with startling and ever increasing accuracy. Trillions of pixels tell a story that saves lives and reduces the need for the cost and stress of more crude methods of today.
Our software is designed and built to meet the needs of clinicians from on-scanner in the ultrasound exam room to the reading workstation and into reports. Vendor agnostic built upon image data from all major ultrasound scanners across all major ethnicities. Built for a global community of users and patients to improve accuracy, consistency and optimize cumbersome workflows.
Simply select the Koios Owl button directly on the touch panel of any GE LOGIQ scanner and instantly obtain a cancer risk assessment aligned to BI-RADS or TI-RADS that can be edited, saved or disregarded, improving timeliness of interpretation with fewer reporting errors. Coming soon to the touch panel of other major manufacturers.
Multiple suspicious nodules captured in a thyroid ultrasound exam receive a full and thorough assessment, classified and a draft report prepared aligned to TI-RADS and ready for review. Modify or export directly into patients' reports.
Ultrasound breast exams, particularly valuable to women with dense breast tissue, benefit from a thorough cancer risk assessment aligned to BI-RADS to be saved, edited and exported directly into patients' reports.
Full reports can be populated at the lesion or nodule level with each appropriate descriptor category populated, TI-RADS scores calculated and exported into a consistent, customized report template complete with CPT Codes and language to facilitate accurate billing.
Why is Koios DS SmartUltrasound software SO important? Nobody is correct 100% of the time. In fact, Koios' and other studies have found physicians can disagree with one another on examination interpretation more than 1/3 of the time AND will change their minds on the same exam one of every five times. Variability in interpretation leads to errors. Medical mistakes are the 3rd leading cause of death in the US. Use of Koios software dramatically reduces variability by >40%.
Koios' landmark study was comprised of 15 physicians across all experience levels and found significant improvements to both sensitivity (cancer detection) and specificity (benign determination) leading to significant improvements to the overall quality of care and patient outcomes (at lower costs).
Not only was quality improved, but significantly LESS time was required when studying physician interpretation times.
All studies performed to date all indicate the same, powerful and exciting conclusion: Koios SmartUltrasound software when used properly and in accordance with its indications can lead to significant improvements in cancer detection while simultaneously eliminating avoidable benign biopsy procedures and unnecessary follow-up appointments for patients.
AI is outperforming physicians alone in other clinical applications as well. A recent study demonstrated how several solutions performed relative to physicians interpreting the same exams. NOTE: Koios is indicated for use as a second opinion, to complement and augment clinical decision-making.
Key metrics: User and adoption growth has experienced double and triple digit gains since emerging from the Covid challenged period that began March, 2020. Adoption growth is the precursor to revenue we anticipate in the future as trials and pilots convert to commercial terms.

A sampling of customer institutions and organizations (willing to allow us to display their names). Many of the leading cancer centers in the US are customers and/or research partners among a rapidly growing installed base.
Koios enjoys a first mover advantage and a unique position with limited to no known viable competition worldwide. Other ultrasound AI players either lack similar capabilities or are yet to receive regulatory approvals and clearances.
A "go to market" strategy and plan in full execution mode. Targeted customers being reached through a coordinated effort of campaigns, conferences and distribution partners with flexible, value-based pricing. Our global distribution network included GE Healthcare, Philips, Sirona Medical and many other leading regional and local entities.
Annual subscription pricing tailored to the size of any customer. Investments in Koios software typically costs far less than the gains, efficiencies seen and amounts eligible for reimbursement, typically delivering a payback measured in months. Arguably the strongest value proposition available of any radiology AI solution.
Millions of traditional diagnostic exams per year are now eligible, candidates for the use of Koios SmartUltrasound, creating a substantial market opportunity for Koios and our distribution partners.
A seasoned team with a common purpose and mission. All with a vested interest in the future success of the company.
Growth projected for 4-5 years in the future may offer an opportunity for investors to exit through either acquisition or future financing rounds used for additional product and market development, expansion. Future projections not guaranteed.
Current forecasts indicate the potential for achieving cashflow neutral to positive by the end of 2025. This current raise could be sufficient to achieve that important milestone. Note that future projections are not guaranteed.

CBS Evening News Segment: https://www.cbsnews.com/newyork/news/doctors-tout-use-of-artificial-intelligence-to-detect-breast-cancer/


Overview