Elucid Labs innovates decades old medical practice
Skin cancer is one of the most treatable cancers, however, current methods for diagnosing skin cancer are primitive. A visual inspection and biopsy is standard practice for medical professionals, yet this method only has about 60% accuracy, putting patients at risk for undiagnosed conditions and unnecessary surgeries. Enter Elucid Labs, a team of dedicated researchers, UW grads, and people passionate about medical technology.
Elucid Labs won $25K at the Velocity Fund Finals in Winter 2017, pitching their device, the Tricorder, and since then, the team has won several competitions and raised funding, including from Spectrum 28. The hand-held tool uses machine learning to detect skin cancer and other skin conditions in real time. Pre-clinical trials begin this month, and Health Canada approvals are currently in progress, with a system that outperforms traditional assessment, operating at 90% sensitivity and 73% specificity. This will only continue to improve, as data collected is anonymously gathered for analysis, allowing doctors to quickly and accurately assess a skin condition without going through piles of research articles.
The MedTech industry is ripe for disruption with this invention, and Elucid Labs believe that artificial intelligence has the potential to be the best new tool to assist health care professionals. The founders state that their main motivation for developing the device is to get better healthcare to everyone, whether in the comfort of a user’s home or to assist medical professionals in clinics.
There’s 7.7 billion people on this planet, and 700 million of them have access to ‘Grade A’ healthcare. The key word is ‘access’ because they don’t necessarily get it all the time. That means 7 billion people do not have access to healthcare, and what we are trying to do is bring healthcare to those seven billion people.
– Farnoud Kazemzadeh, Co-founder of Elucid Labs
What’s in the future for Elucid Labs? “We say that we are creating the AI assistant to doctors starting with dermatology, and our internal slogan is to take over all the other ‘ologies’ too,” Farnoud laughs. “The goal is backed with the same vision of providing care to people who don’t have easy access to it.”