DeepLook Medical, the company behind DL Precise, the first FDA-cleared AI technology designed to detect cancer in dense breast tissue, has announced the successful first close of its Series A funding round. The round was led by Xcellerant Ventures, with additional support from OKG Capital. This funding milestone will support the company’s continued growth and its efforts to enhance cancer detection and advance medical imaging technology.
Along with the funding announcement, DeepLook has released new data showcasing the impact of DL Precise at a major New York hospital. According to the data, the hospital saw a 12% improvement in recall rates, improving adherence to the American College of Radiology (ACR) guidelines for breast cancer detection. The technology also contributed to the detection of a previously undiagnosed cancer, highlighting its potential to significantly improve diagnostic accuracy and patient outcomes.
“DL Precise marks a significant advancement in medical imaging technology, positioning DeepLook at the forefront of innovation,” said Michael Shufeldt, Principal at Xcellerant Ventures. “We believe this technology has the potential to redefine how healthcare providers approach breast cancer detection, particularly in cases where clarity and precision are most needed.”
DL Precise integrates seamlessly into the existing breast imaging workflow, providing point-of-care support to enhance clinical decisions. This AI-driven tool assists radiologists in detecting cancers that might otherwise go unnoticed, particularly in patients with dense breast tissue, where visualization can be more challenging.
The release of this data is timely, as 37% of mammography centers in the U.S. are currently non-compliant with ACR guidelines, which could lead to a 2% reduction in reimbursement from the Centers for Medicare & Medicaid Services (CMS) and private insurers. Non-compliance could result in annual financial losses ranging from $50,000 to $200,000 per institution, depending on patient volume. DL Precise™ offers a solution to help centers not only meet these guidelines but also improve their overall diagnostic outcomes.
“DeepLook Medical is proud to share the results of this study and the positive impact of DL Precise on performance and compliance,” said Marissa Fayer, CEO of DeepLook Medical. “Our technology not only helps improve recall rates but also contributes to better cancer detection, ultimately benefiting both healthcare providers and patients. This is particularly crucial for patients with dense breasts, where visualization challenges are more pronounced.”
