Artificial intelligence in intensive care units: x-cardiac closes seed funding
BERLIN, 22. April 2021 - IBB Ventures and several business angels have invested in x-cardiac GmbH. The Berlin-based company markets artificial intelligence (AI)-based systems for the timely prediction of complications after heart surgery, which were developed at the German Heart Institute Berlin (DHZB).
Post-operative bleeding and acute kidney failure are life-threatening complications after operations on the heart or the vessels near the heart. A team led by Professor Alexander Meyer, MD, a physician at the DHZB, has therefore developed an AI that predicts potentially life-threatening conditions even before the first symptoms appear. Using the stored and anonymized data of more than 50,000 patients*, this software has been "trained" and tested in the intensive care units of the DHZB in real hospital operations since April 2018. The company x-cardiac, which was founded in March, intends to use the seed funding to have its first medical product "x-c-bleeding" for postoperative bleeding certified and marketed. A second medical product "x-c-renal-injury" for acute kidney failure is to follow. x-cardiac GmbH was founded with the support of the Berlin Institute of Health (BIH) and Charité - Universitätsmedizin Berlin.
"We are very pleased to be working with our new partners to bring the topic of digitalization, combined with artificial intelligence, into everyday clinical practice. The need for decision support systems at the point of care is very high, which is also shown by the initiative of the Hospital Future Act (KHZG)," says x-cardiac CEO Oliver Höppner. Prof. Alexander Meyer, also Managing Director of x-cardiac, adds: "We are convinced that our developments will not only significantly reduce mortality after operations, but also the length of stay of patients* in the intensive care unit. The software thus contributes to improving both the quality of treatment and the profitability of a hospital. This conviction is shared by our investors, whom we thank for the trust they have placed in x-cardiac." Alexander Meyer explains that x-cardiac GmbH will launch several more products in the medium term: "The principle of early detection of postoperative complications, based on Big Data and with the help of artificial intelligence, can be extended to a variety of surgical subdisciplines and specific complications."
Christian Seegers, Senior Investment Manager at IBB Ventures, adds: "We have been in regular contact with the x-cardiac team for quite some time and are very pleased to support x-cardiac together with the business angels in the market entry of their decision support software. Due to the initiated digital transformation in the German hospital market and the funding conditions of the KHZG, we see excellent growth opportunities for x-cardiac's AI-based software products."
x-cardiac has developed artificial intelligence-based systems to prevent life-threatening complications after heart surgery. These are based on so-called "recurrent neural networks", i.e. artificial intelligence, which were developed using the stored and anonymized data of nearly 50,000 patients at the DHZB for the early detection of post-operative bleeding and acute kidney failure. Post-operative bleeding and acute kidney failure are life-threatening complications after operations on the heart or the vessels near the heart. The earlier they are detected, the greater the chance of successful treatment. The systems have been tested in the intensive care units of the DHZB since April 2018 in real clinical operations and will now be transferred into the certified medical devices "x-c-bleeding" and "x-c-renal-injury". These future medical devices meet all requirements for eligibility as a clinical decision support system under the Hospital Futures Act (KHZG). The KHZG promotes digitization in German hospitals with a total of up to 4.3 billion euros through an investment program of the German Federal Ministry of Health.
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About IBB Ventures
IBB Ventures (www.ibbventures.de) has been providing venture capital to innovative Berlin-based companies since 1997 and has established itself as the market leader in early stage financing in Berlin. The funds are primarily used for the development and market launch of innovative products or services and for business concepts in the creative industries. Currently, two funds with a total volume of EUR 100 million are in the investment phase. Both VC funds are financed by funds from Investitionsbank Berlin (IBB) and the European Regional Development Fund (ERDF), managed by the State of Berlin. IBB Ventures has already invested in more than 240 Berlin-based creative and technology companies; in consortia with partners, the startups received approximately EUR 1.62 billion, of which IBB Ventures has invested more than EUR 240 million as lead, co-lead or co-investor. IBB Ventures is the umbrella brand for the VC activities of IBB Beteiligungsgesellschaft.
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