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QuantXTM is Named to TIME’s List of the 100 Best Inventions of 2019

November 26, 2019

CHICAGO--(BUSINESS WIRE)--Nov 26, 2019--

TIME Magazine has named QuantX to its list of the 100 Best Inventions of 2019. QuantX, by Qlarity Imaging, is the first FDA-cleared computer-aided diagnosis software for radiology.

TIME highlights groundbreaking innovations that are making the world better and smarter. “Recognition of QuantX as one of TIME Magazine’s best inventions of 2019 is a testament to the importance of our work. QuantX leverages artificial intelligence to transform diagnosis from medical images,” said Meg Harrison, Chief Operating Officer and Head of Product at Qlarity Imaging. “There are over 30 million women screened for breast cancer in the U.S. each year. When suspicious lesions require additional imaging, QuantX helps radiologists to diagnose from breast MRI images, which then can reduce unnecessary biopsies and the associated patient anxiety.” QuantX does this with an AI algorithm, which provides a single numeric value, called a QuantX Score, related to the probability of malignancy.

A pivotal clinical study demonstrated the effectiveness of QuantX at helping radiologists interpret cancerous and non-cancerous breast lesions in MRI images, leading to a 39% reduction in missed breast cancers without a reduction in specificity, as well as a 20% overall diagnostic improvement.

Just last week, Qlarity Imaging announced a major enhancement to the QuantX platform – breast MRI biopsy guidance – creating the first end-to-end MRI solution for breast radiologists. This latest addition to QuantX will further assist radiologists in using information from breast MRI images to calculate the precise location and depth of the targeted lesion. The software will guide doctors to the recommended location and depth for inserting a biopsy needle. FDA 510(k) clearance of this MRI biopsy module expands the capabilities of the QuantX computer-aided breast cancer diagnostic system.

Qlarity Imaging was launched in June 2019, propelled by the support of Paragon Biosciences. Paragon assists Qlarity Imaging with Innovation Capital TM services, consisting of strategic guidance, infrastructure support and financing, both providing the initial funding for Qlarity Imaging as well as raising equity financing from additional investors.

“Paragon is proud to have founded Qlarity Imaging and support the rapid progress of its QuantX AI-enabled diagnostic system,” said Paragon Biosciences Chairman and CEO Jeff Aronin. “By including QuantX among the best inventions of 2019, TIME is highlighting an innovation that is part of Paragon’s vision to improve patient care by leveraging artificial intelligence.”

About Qlarity Imaging:

Qlarity Imaging builds solutions that harness the power of artificial intelligence to improve healthcare. Qlarity’s initial product, QuantX Breast, is the first FDA-cleared computer-aided diagnosis software for radiology. QuantX integrates MRI images to assist radiologists in the assessment and characterization of breast abnormalities. QuantX is not intended for primary interpretation of digital mammography images.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191126005242/en/

CONTACT: Rachel Lenke

847-436-1708

rlenke@kivvit.com

KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ONCOLOGY HEALTH FDA TECHNOLOGY SOFTWARE RADIOLOGY CLINICAL TRIALS

SOURCE: Qlarity Imaging

Copyright Business Wire 2019.

PUB: 11/26/2019 07:00 AM/DISC: 11/26/2019 07:01 AM

http://www.businesswire.com/news/home/20191126005242/en