BERLIN/LONDON, May 14, 2020 - Aladdin Healthcare Technologies SE (“Aladdin”, ISIN: DE000A12ULL2), a leading developer of AI healthcare diagnostics and drug discovery applications, has been selected for a
EUR 1.4 million grant in the Call of Innovative Medicines Initiative (IMI) supported by the European Commission, for the development of new COVID-19 diagnostic system. The research project has been developed together with 20 renowned international partners.
In March 2020, the Innovative Medicines Initiative (IMI), a European public-private partnership that funds health research and innovation, launched a fast-track call for research proposals to develop efficient new diagnostic tools and treatments for the coronavirus in short-time.
Aladdin, with its co-developed project Dragon for coronavirus diagnostics, won among 144 high-quality proposals that reached the IMI in response to the call. Only eight projects made it to the finals. Among them, five projects focus on the coronavirus diagnostics. Three of them, on treatments.
Dragon aims to deliver rapid and secure Artificial Intelligence (AI) imaging based multi-modal diagnosis as well as stratification, follow-up and preparedness for coronavirus pandemics. It is the only project been selected which provides diagnosis and prognosis results based on AI with medical imaging. The project will develop a precision medicine approach and optimize a European scalable diagnostic tool for coronavirus, starting from existing available data about the pandemic. Citizens and patients will be empowered to contribute to the efficient usage of resources. The entire effort will be supported by a federated machine learning system that will allow for the GDPR compliant use of multinational personal data.
Wade Menpes-Smith, CEO of Aladdin Healthcare Technologies SE, says: “We are very proud to be the chief technical leader for the AI medical imaging and Knowledge Graph related working packages and responsible to deliver the related algorithms and software services. This tells the capability Aladdin’s AI technologies and solutions have reached amongst the European Union Commission’s highest standards. Working with global leaders allows us to put our expertise at the disposal of healthcare worldwide.”
Dragon is a 3-year research project developed within an international consortium made up of 21 high-tech SMEs, academic research institutes, biotech and pharma companies from Belgium, China, Italy, the Netherlands, Switzerland and the UK, such as the University of Cambridge, the Renmin Hospital of Wuhan University and the Sun Yat-Sen University. The project is led by Oncoradiomics, a global MedTech provider of high-quality care for cancer patients in Belgium. The total approved grant amounts to around EUR 11.4 million. Aladdin takes part in the consortium with a grant share of 12.3%, corresponding to approximately EUR 1.4 million.
About Aladdin Healthcare Technologies SE
Aladdin Healthcare Technologies SE (and its wholly owned subsidiary Aladdin Healthcare Technologies Ltd.) is a leading developer of AI healthcare diagnostics and drug discovery applications that can accelerate both early stage disease diagnosis and the end-to-end drug discovery process. Aladdin targets aged related disease including a significant focus on Alzheimer’s disease. Aladdin accomplishes this by collaborating with numerous partners within the global healthcare ecosystem to confidentially and securely gather targeted data including, genome, tabular, MRI, PET, cognition and other lifestyle data. These datasets are then analysed by our award-winning AI team and used to develop proprietary AI tools that can assist healthcare professionals to more accurately and efficiently diagnose aged related diseases. This new diagnostic process will save significant time and costs for healthcare professionals. Additionally, our AI drug discovery platform will be used to by pharmaceutical Companies to speed up drug development, clinical trials and predict outcomes more accurately.
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