IMPACT INVESTMENT:
TRANSFORMING THE
DETECTION OF PROSTATE
CANCER USING AI
The accuracy of Pi™ could help reduce the
numbers of prostate cancer-free men who undergo
painful, potentially avoidable investigations,
saving the NHS costs, helping address the
shortage of radiologists, and cutting waiting lists.
Prof Evis Sala, Chief Medical Officer and
co-founder of Lucida Medical
Through our Innovation Impact Investment
Portfolio, we invest in start-ups developing
technology and products that could radically
improve early diagnosis and treatment.
Investment decisions are made with the
guidance of our Innovation Impact Investment
Advisory Group, an external panel with
expertise in digital transformation, commercial
law, healthcare management, venture capital
and impact investment, as well as personal
experience of cancer. By taking an equity
investment in these businesses and supporting
their development, we aim to yield a financial
return that can be reinvested in further cancer
innovation.
The first companies in the Innovation Impact
Investment Portfolio:
Prostate cancer is the most common cancer
in UK men, with over 50,000 diagnoses each
year. And while the lowest grades of prostate
cancer develop slowly, 12,000 men die from
the disease each year in the UK. We are
investing £350,100 in a new AI platform that
could revolutionise prostate cancer diagnosis.
Pi™, developed by Lucida Medical uses AI
to identify prostate cancer from MRI scans.
Preliminary analysis suggests the software
has a level of precision comparable to expert
radiologists, offering the potential to transform
the speed and efficiency of prostate cancer
detection.
Through this collaboraton with co-founders
Dr Antony Rix and Prof Evis Sala, our aim
is that more patients can benefit from
early detection and treatment. Meanwhile,
avoiding unnecessary biopsies could have
a transformative impact for the NHS and for
patients across the UK.