Perimeter Medical Imaging AI is potentially disrupting post cancer surgery imaging with a goal to help save lives, costs, and time

Any technology that can help us beat cancer is most welcome. One company is developing a revolutionary way for surgeons to better assess if they have removed all the cancer, all while still in the operating room. This same company was recently recognized as one of the “10 most promising companies” at the Texas Life Science Forum.

The company is Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (‘Perimeter’). The AI in their name refers to the fact that they use Artificial Intelligence (AI) in addition to their imaging technology. A combination of imaging and AI helps surgeons identify if cancer is still present post-tumor removal surgery by examining the ‘perimeter’ of the excised area, hence the company name.

Perimeter’s goal as a medical technology company is to transform cancer surgery with advanced, real-time, ultra-high-resolution imaging tools to address areas of high unmet medical need. Perimeter’s OTIS™ platform is an FDA-cleared point-of-care imaging system that provides clinicians with real-time, ultra-high-resolution, sub-surface image volumes of the margin (1-2 mm below the surface) of an excised tissue specimen.

Perimeter’s OTIS™ (Optical Tissue Imaging System) is FDA cleared point-of-care imaging system for use in real time clinical procedures

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Cancer left behind after surgery is a significant problem

As we all know cancer surgery does not always get all the cancer. For example, breast lumpectomy surgeries currently face 25% re-operation rates. This is not ideal for the patient and it is not ideal for the health care system. Re-operating costs are, on average, $16,000 to cover the additional hospital cost per patient, which when added up, amounts to an additional $560 million annual cost to the U.S. healthcare system.

The best solution for all parties is to be able to do point-of-care real time imaging using Perimeter’s Optical Tissue Imaging System (OTIS) taking only 10 minutes to do. By contrast the current standard way is to send off a post-operative histology tissue sample for assessment, which takes 2 to 7 days. Now that’s a potential disruption right there.

Perimeter’s commercialization strategy

Perimeter currently uses their OTIS device in limited markets but have plans to expand, with an initial focus in the US on post surgery breast cancer imaging. According to Perimeter (and WHO projections) the total addressable market across all areas for Perimeter is US$3.7 billion.

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To get a feel for the initial ‘revenue potential’ just from targeting US breast cancer lumpectomy cases only, Perimeter prepared the slide below. It shows based on a mid case scenario of 500 hospitals doing 3 imaging procedures per week at $750 each, perimeter’s potential revenue could reach $56.3 million pa of recurring revenue. This is just theoretical at this stage, but shows the potential revenues from just one type of post cancer surgery (post breast cancer lumpectomy). In time Perimeter would aim to expand to many types of cancer post surgery imaging.

Perimeter’s ‘target potential’ revenue only from breast lumpectomy post-surgery imaging

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Perimeter’s Q3 2020 financial results were reported here.

Closing remarks

Perimeter Medical Imaging AI is potentially disrupting post cancer surgery imaging with a goal to help save lives, costs, and time. Perimeter’s OTIS™ is already FDA cleared; however there is still some further next stage product development ongoing in the area of training the computer (AI training), as well as further studies. Perimeter is targeting a limited market release in Q1 2021 and a broader commercial launch in Q2 2021.

Perimeter’s board and management team are extremely experienced and highly credentialed. The company is rapidly gaining recognition and now has a market cap of C$87 million after only listing on the TSX-V in mid 2020. It is certainly looking like 2021 will be a breakthrough year for Perimeter Medical Imaging AI. Stay tuned.

Disclosure: The author is long Perimeter Medical Imaging AI, Inc. (TSXV: PINK)




AI for the next generation of medical imaging provides “a Google Maps for surgeons”

“A Google Maps for surgeons” is how Perimeter Medical Imaging AI Inc. (TSXV: PINK) President and CFO Jeremy Sobotta described the AI software currently being developed by the company to complement its FDA-cleared medical imaging system at a recent investment conference.

Perimeter is a medical technology company working to transform cancer surgery by creating ultra-high-resolution, real-time, advanced imaging tools to address unmet medical needs. The imaging tools have already been developed and are approved in ophthalmology and cardiology (optical coherence tomography or OCT). Perimeter is using this imaging technology (OTIS or Optical Tissue Imaging Console) to assess the tissues surrounding the known cancerous target area to determine whether more tissue should be removed during the ongoing surgery.

The imaging technology has the ability to rapidly image large and complex surfaces. It is capable of imaging up to a 10×10 centimeter surface area at resolutions ten to 100 times that of traditional imaging systems (and also has a system that enables the orientation and imaging of any size, shape and/or density of specimen). Of note, the company’s device is commercial, is FDA-cleared and will be launched into the early adopter market later in 2020/early 2021.

As previously announced, Perimeter Medical Imaging received a $7.4 million Cancer Prevention and Research Institute of Texas (CPRIT) grant to further develop the ATLAS AI Project. The funding granted by CPRIT will support technology development that is currently underway with the first part being data collection to further train and test the AI algorithm. Part two will be undertaken in early 2021 to confirm the safety and efficacy of the technology/process that aims to decrease the re-operation rates for breast cancer patients. Future deployment of the AI technology will be complementary to OTIS, once it has been FDA-approved.

As described in the September 16, 2020 online presentation, the company has engaged with world-renowned cancer centers in Canada, the US and Europe and has attracted an exceptional scientific advisory board. Members include medical professionals affiliated with the Harvard Medical School, the Mayo Clinic Cancer Centre, and the Ontario Cancer Institute in addition to others, which is an exceptional validation of this company’s early-stage technology. Management is deeply experienced in the medical-technology industry, and the board of directors has a wealth of expertise in clinical experience, surgical workflows, and medical device commercialization.

The company went public at the end of June 2020 through a reverse takeover transaction and concurrent financing, and has access to approximately $30 million of capital, so near-term development is well-funded as the company looks to sell up to half a billion dollars of installations into an undersupplied market.

Perimeter’s technology is addressing an unmet need in a $3.7 billion addressable market segment, according to the World Health Organization. It should be noted that this technology is not just restricted to breast cancer surgery, but is potentially applicable to a wide variety of other cancer and other treatments as shown below:

Source: Perimeter Medical Imaging AI

Finally, an estimated one in four women require repeat breast cancer surgery due to cancerous tissue remaining after the initial surgery. Perimeter’s use of existing technology and a machine learning/artificial intelligence combination is designed to significantly lessen this statistic. While it is too early to declare that this one technology is the “holy grail”, it does bring us one step closer to the statement that “cancer can be beaten”.




InvestorIntel Announces Partnership with InvestorChannel for Daily Distribution of Data Driven Market Watchlists

Leading investor source, market sector leaders and market experts unite to provide investors with daily market updates via social media outlets

Toronto, August 13, 2020 — InvestorIntel.com, a leading online source of investor information, is pleased to announce its partnership with InvestorChannel.com, a daily data-driven market sector update system that is all video.

“Every time the headlines discuss Chinese-US tensions, investors call me and ask me to send them a list of rare earths’ companies trading in the public markets,” said Tracy Weslosky, founder of InvestorIntel.com and co-founder of InvestorChannel.com. “For example, gold breaks $2,000, or a new Esports CEO does a riveting interview on the increasing audience and revenue for online gaming, and my email inbox fills with the same questions from investors. So, I called Moovly Media Inc. (TSXV: MVY) CEO and co-Founder Brendon Grunewald in Brussels and said – help me. Help me figure out a way to tweet out a compliant-friendly update on the sectors that are fun to watch and helps me share the list of the sector-leading public companies we at InvestorIntel follow and get an idea of how they are really doing.”

InvestorChannel.com provides both novice and professional investors with timely information to shape their decision-making. “After all,” she continued, “the conventional investor media told me every single day that I couldn’t lose if I bought cannabis or crypto stocks last year, but if I had a tool that actually compared how 20 or so companies were actually faring – I could get a real handle on what’s really happening, instead of having to rely on what people are telling me is going on.”

Moovly Media CEO Brendon Grunewald has a vision for InvestorChannel.com: “I thought we would take things up a notch by using the market leading video automation technology of Moovly Media and combining it with intelligently designed software to grab data from a range of both proprietary and publicly available data sources. We can use that to produce interesting market updates, such as the top gainers on an exchange for the day or best performing companies in a specific sector. The result is a platform that is designed to produce an ever-growing amount of insightful content in the most effective online communication medium, Video.

In addition to a US, CDN, UK and Hong Kong Markets update watchlist, there are also a dozen sponsored watchlists that run daily on InvestorChannel:

About InvestorIntel.com
InvestorIntel.com is a leading online source of investor information that provides public market coverage for both investors and industry alike. Offering coverage of emerging markets and investment opportunities to discerning investors, InvestorIntel is considered an online influencer in analysis, videos and podcast reports and hosts Investor Talks for self-directed investors online.

About InvestorChannel.com
InvestorChannel.com is a data-driven fintech company that is focused on using the latest in artificial intelligence (AI) and other analytics technologies to develop a platform that produces timely, insights into companies and industries listed on the capital markets. Updates are published in video and disseminated via a variety of online channels through partner InvestorIntel.com. Updates are published on an InvestorChannel YouTube channel (click here to subscribe) and automatically tweeted out daily through @TracyWeslosky.

For more information on either InvestorIntel or InvestorChannel, email Tracy Weslosky at tracy@investorchannel.com or contact us direct at +1 416 792 8228.