Optiscan Imaging Limited (ASX: OIL) is making waves in the medical field with its groundbreaking handheld technology, offering high-resolution digital imaging for the diagnosis of cancer and other diseases.
By providing greater accuracy and eliminating the need for painful biopsies, Optiscan is revolutionising the way diseases are detected and treated.
Recently, Optiscan reached a significant milestone by securing $16.7 million in funding, with key investments from Peters Investments Pty Ltd and Orchid Capital Investments Pte. Ltd.
This substantial financial backing will drive the next phase of Optiscan’s growth as it prepares to launch its first digital pathology system on the market in 2024.
Optiscan CEO and Managing Director Dr Camile Farah expressed excitement about the transformative potential of their technology. After two decades of technological development, the company is now on the cusp of making digital, real-time pathology available to the public, which could mark a pivotal shift for a sector that has seen little change in a century.
Optiscan’s cutting-edge InVivage® device is currently undergoing regulatory approval and is slated for launch in the United States in 2024, followed by other regions, including Australia.
“Optiscan technology offers a way for doctors to diagnose disease in real-time with greater accuracy than traditional methods. This will save lives and transform a process that is currently slow, painful and inefficient,” Dr Farah said.
One of the areas where digital pathology shines is surgery. Surgeons often face the challenge of putting operations on hold while waiting for tissue samples to be tested. Digital pathology promises to change that by allowing surgical decisions to be made in real-time, leading to more precise procedures and reducing the need for follow-up operations, which have been common in certain cases, such as up to one-third of breast cancer lumpectomies.
Beyond its devices, Optiscan is actively developing exclusive software and telepathology platforms. These efforts aim to provide high-quality, real-time diagnostic services to individuals worldwide, regardless of their location. The integration of artificial intelligence into the analysis of digital images is also being pursued, enabling early disease identification and facilitating timely interventions by healthcare providers.
Looking ahead, the upcoming year is pivotal for Optiscan as they work diligently to realise their long-held vision. Dr Farah emphasised the importance of this moment, stating that the technology they are bringing to fruition will significantly improve the pathology experience for patients, clinicians and the entire healthcare system.
Optiscan Non-Executive Chairman Robert Cooke expressed his confidence in the company’s direction, acknowledging the unwavering support of their investor community. He emphasised Dr Farah’s visionary leadership and conveyed his excitement about Optiscan’s future, anticipating significant growth and strong returns for valued shareholders.
As Optiscan progresses towards becoming a leader in real-time digital pathology and precision surgery, their breakthrough innovations hold the potential to transform healthcare and bring about a new era of faster, more accurate disease diagnosis and treatment.
Ritchelle is a Content Producer for Healthcare Channel, Australia’s premier resource of information for healthcare.
