Today (Monday), Israeli Med-Tech startup, Agamon, which develops AI-backed algorithms that translate medical report jargon into a common language for better patient care and education, announces securing $3 million in Seed funding, in an effort led by MMC Ventures, also including investments from Seedcamp, InHealth Ventures, and pharmaceutical company Bayer G4A.
“Translating” a doctor’s handwriting
Agamon has developed an algorithm that translates confusing medical text into useful and clear data so that the non-medical educated patients can better understand their condition or next treatment. The algorithm makes “sense” out of medical summaries pinpointing the important information from the text such as the reason for visit, medical findings, severity of health condition, recommendations, and more.
Using its AI-backed algorithm has led the company to provide three different products. The main product being an automatic followup based on medical reports, regarding continuing treatment and medical recommendations for patients. As company CEO Michal Meiri illustrated in a talk with Geektime, that in the U.S. about 1 out of 3 patients fail to followup on recommended medical treatments. Agamon’s solution extracts the doctor’s findings and recommendations, fact checks them with the hospital, allowing the medical institution to more efficiently track patient care and remind them to return for continued treatment based on their medical findings.
The second product that the company offers is a medical jargon translator, which turns the sometimes confusing doctor’s findings into a more patient-friendly language. This product not only reduces time doctors spend trying to explain medical findings but also takes away a lot of patient-related stress from trying to decipher test results and such.
The company’s third product is more targeted at research and clinical trials. It’s a system that can search for any medical-report parameter, like searching for lung cancer reports, and the system will find any relevant data related to the subject, even if the keyword is not in the text.
Meiri continued to explain that the company’s proprietary algorithm, the engine behind the products, was trained by analyzing millions of medical reports from both Israel and the U.S. in a joint partnership with different hospitals in both countries.
Agmon was founded in 2017 by CEO Michal Meiri and CTO Omri Sivan. According to the company, it plans to put the newly acquired funds into expanding and implementing their tech into other global markets, adding even more languages to translate, as well as further developing the company’s AI-backed algorithm. Agamon, which currently has 8 employees working out its Tel Aviv based R&D center, is already working with a number of hospitals in Israel and in the United States.