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D-CHIP from Helomics and Skyline Medical Targets Explosive Growth in Artificial Intelligence Healthcare Market

Tuesday, 09 January 2018 08:00 AM

CEOCFO Magazine

Big Data and Artificial Intelligence in Healthcare Predicted to Become $100 Billion Per Year Market, According to McKinsey Report

EAGAN, MN / ACCESSWIRE / January 9, 2018 / CEOCFO Magazine, an independent investment publication that highlights important technologies and companies, today explains how medicine is being transformed by new data and by artificial intelligence, with new technology platforms like the D-CHIP™ from Helomics and Skyline Medical (NASDAQ: SKLN) leading the way.

CEOCFO Magazine, Tuesday, January 9, 2018, Press release picture

The past decade has brought explosive growth in healthcare information. Rapid and inexpensive genetic sequencing is reading the genetic code not only of patients' DNA but also of hundreds of thousands of different tumors. Technologies to analyze proteins and other substances are making it possible to understand the underlying biology of disease - and how medicines can treat those illnesses. Pharmaceutical companies and health insurers are collecting huge amounts of data on individual treatments and patient outcomes.

This data promises a new era in medicine, in which the first signs of disease are spotted - and treated -before people actually get sick, and where treatments are personalized for individual patients. Take cancer. Tumors that seem to be of the same type can actually have very different underlying genetic mutations. Since many of today's drugs are designed to target particular genetic vulnerabilities of cancer cells, a drug that is effective for some tumors will fail for others. But if the genetics of individual cancers are analyzed, doctors then can pick the right drug.

Making full use of this vast flood of data, though, is beyond the capability of the human mind. That's why medicine is increasingly turning to artificial intelligence - using powerful computers and sophisticated software to make sense of the data. Artificial intelligence can help doctors to make quicker, more accurate diagnoses, to pick the right treatments, and to continually improve the quality of healthcare. Consulting giant Accenture predicts that artificial intelligence will actually save the U.S. healthcare system $150 billion a year by 2026, while McKinsey sees a total market for Big Data and artificial intelligence of more than $100 billion a year.

The potential of artificial intelligence in healthcare has attracted hundreds of companies to the field, from Big Pharma to Giant Technology firms. Here, however, CEOCFO magazine is focusing on a promising Pittsburgh-based company, Helomics. In addition to genetic tests for cancer, Helomics has developed a bioinformatics and artificial intelligence platform it calls D-CHIP™ (Dynamic Clinical Health Insight Platform).

"D-CHIP's database contains genetic and clinical information on more than 149,000 cancer tumors, based on more than a decade of clinical testing," explains Gerald Vardzel, CEO of Helomics. "Pharmaceutical companies and doctors can then use the artificial intelligence engine in D-CHIP to develop - and use - revolutionary cancer treatments targeted at individual patients."

Meanwhile, Helomics is teaming up with Skyline Medical (NASDAQ: SKLN), which markets an innovative system for collecting and disposing of fluids from patients, and which is investing in or partnering with companies on the leading edge of healthcare. For example, Skyline and Helomics recently licensed next generation sequencing technology that will make even more genetic data from tumors available to the D-CHIP platform. "We are carefully positioning Skyline to be a major player in the coming artificial intelligence and Big Data revolution in medicine," says Carl Schwartz, CEO of Skyline Medical.

Contact:

Bud Wayne
Editorial Executive
CEOCFO Magazine
570-851-1745
[email protected]

SOURCE: CEOCFO Magazine

Topic:
Partnerships
Product Announcements
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