"Discussion with Chris Wood, both CEO and Chair of the Lung Cancer Progress Corporation, as uncovered in the RevealDx feature"
RevealDx: Revolutionizing Lung Cancer Diagnosis with AI-Enabled Software
In the heart of Seattle, a software company named RevealDx is making waves in the healthcare industry. With a vision to improve lung cancer outcomes, RevealDx is at the forefront of developing AI-enabled lung cancer decision-support software.
At the helm of this innovative company is Chris Wood, a medical physicist and three-time entrepreneur. Wood's career in the medical field took shape during his graduate studies at Moffitt Cancer Center, where he was drawn to the potential of diagnostic imaging to improve patient outcomes. Before starting his own businesses, Wood worked for major medical imaging equipment manufacturers, including Siemens, honing his skills and developing a deep understanding of the industry.
The idea for RevealDx came together when Wood found a company that had completed significant scientific research but faced challenges commercializing its product due to the pandemic. After conducting due diligence and assembling a group of investors, Wood purchased the company's assets in March 2021, allowing RevealDx to begin operations with a five-year head start.
RevealDx's first product, RevealAI-Lung, provides a 'Malignancy Similarity Index' for each lung nodule found in a chest CT exam. This index helps healthcare providers make more informed decisions about a patient's care. The platform aims to drive the optimal clinical pathway for each patient, potentially saving lives by identifying potential cancers that might have been missed.
The regulatory environment around the use of AI in healthcare is rapidly changing, and there is currently no guidance document for computer-aided diagnosis. However, RevealDx had advance meetings with the FDA to discuss how to obtain clearance. Using predicate devices and other guidance documents, the company devised a strategy to map its path to clearance.
RevealDx's hard work has paid off, as the company's landmark study has been published in the Journal of the American College of Radiology. The study demonstrates higher performance and more generalizability, working effectively on multiple cohorts of patients, different scanners, and different geographies.
After FDA clearance, RevealDx plans to expand in Lung Cancer diagnosis and explore the potential of combining other lung cancer biomarkers to create a virtual biopsy. This could be a game changer for many patients, streamlining the diagnostic process and potentially reducing the need for invasive procedures.
RevealDx is targeting a total addressable market (TAM) of at least $2 billion in the US and half that size for the rest of the world. The company expects to conduct its first institutional round of funding after FDA clearance.
One of Wood's favorite memories working for the company was when the AI-assisted diagnosis outperformed radiologists using guidelines. This moment encapsulates the potential of RevealDx's technology to revolutionize lung cancer diagnosis and improve patient outcomes.
Wood's personal experience with his mother's health struggles, who suffered from illness anxiety disorder, further fuels his passion for diagnostic imaging. He believes that imaging is crucial for both patients and doctors, and he is committed to making a difference in the lives of those affected by lung cancer.
[1] For more information on RevealDx's landmark study, please refer to the Journal of the American College of Radiology.
Science and medical-conditions are at the core of RevealDx's mission, as they develop AI-enabled software to revolutionize the diagnosis of lung cancer. The company's first product, RevealAI-Lung, aims to identify potential cancers that might have been missed, ultimately driving the optimal clinical pathway for patients, and this approach could lead to a reduction in the need for invasive procedures in health-and-wellness care.
