Giuliano Senese, who previously sold ‘Time Table, has started a new venture. DX Medical Solutions, which focuses on providing AI-based differential-diagnosis in the healthcare sector, has raised over $3,300,000 from various VC’s, led by Biofund, and through government funding. The company has secured a deal with the Dutch government for clinical trials in a minimum of 20 public hospitals by the end of Q1-2021. DiagnostiX (The first product of DX Medical Solutions), aims at utilizing artificial intelligence and machine learning to be able to predict a possible diagnosis. In order to do so, they have licensed a blood-testing device that will accompany the software in each hospital: “The way that it works is that in order to keep the results as accurate as possible and due to the requirements of our algorithm, we decided to license a protein analyzer from one of the market leaders in the world called The Binding Site.” Senese, also said that his software is using an in house built database with over 1 Billion+ entries on epidemiological data. “Our entire system relies on that, without going into too much detail about how it’s done, we essentially analyze patterns on the grand scheme of data, and by doing such, we can narrowly predict a diagnosis for each individual patient”. The company is currently based out of The Netherlands, but also has an operating office in Rome, Italy. They are planning to use these funds for clinical trials and R&D. Senese plans on releasing his product on international markets in Q2-2021.
With the COVID-19 pandemic causing economies to decline and investors to shrink investments, Senese said that it actually helped him. “…With COVID going around, a lot of investors are not currently as active as they were before, but we appealed to the VC’s due to the nature of our product and my track record. You know, we’re really trying to help people here. The current healthcare system is incredibly flawed with a multitude of inefficiencies. We want to change that”.
DX Medical Solutions is not the first company to try and tackle this subject as there are numerous competitors such as Quest Diagnostics that are attempting to create similar systems. Senese, however, is optimistic that their product will outperform any competitors, due to their experienced team.
