05 June 2015 | News | By Rahul Koul Koul
Inspirata enters Indian market
Mr Mark Lloyd, EVP & founder, Inspirata
This facility is an extension of its US operations and will be set up and run at cost of around $3 million.
The new facility will be located at Bagmane Tech Park (BTP), according to the company.
Inspirata, which originally formed in 2013 as 2DP by its founder Mr. Mark Lloyd, was incorporated in the US September 2014, has already completed groundbreaking work in the oncology field by developing an end-to-end Digital Pathology Workflow Solution that scans glass pathology slides, making the digital images available for high-resolution viewing and sharing anywhere in the world.
The company in India is looking to partner with renowned cancer institutions and best-of-breed hardware and software vendors.
To begin with Inspirata will hire 50 high-end software product development engineers, scientists and informaticists from the healthcare domain in the next 2 months.
Inspirata's pathology cockpit employs advanced computational image analytics algorithms called 'Companion Diagnostics' that pre-screen and highlight suspicious cells on the digital images of glass pathology slides, helping pathologists to more rapidly diagnose cases.
According to market research firm MarketsandMarkets, the global digital pathology market is expected to touch US $437 million by 2018.
The Indian development centre will deliver cutting-edge support to all three of its business units including digital pathology workflow solution, companion diagnostics and the cancer Information Data Trust, and also will work on data mining, data analytics and predictive software algorithms.
Commenting on the initiative Mr Satish Sanan, CEO, Inspirata, said "The Indian R&D centre will play a very strategic and vital role in our endeavor to help speed up cancer diagnosis, research, teaching and most importantly provide doctors and patients with predictive data that will change the way cancer is diagnosed and treated. Bangalore has the right ecosystem to support our plans and hence our decision to locate one of our key initiatives here."
These novel detection and diagnostic algorithms are at the leading edge of cancer research and are expected to transform how cancer patients are treated throughout the world.
For example, the turnaround time for cancer detection and diagnosis will be shortened from 12-13 days to 2-3 days.
Additionally, patients will have more rapid and affordable access to second opinions and consultations from a worldwide pool of pathologists who specialize in specific forms of cancer.
The company's long-term vision is to also develop a Cancer Information Data Trust - an extensive database of cancer signatures cross-referenced to clinical treatment protocols and patient outcomes.
This data is the Holy Grail for cancer patients because it can help predict disease progression and recommend therapies based on previous patient responses in similar cases.
Statistically speaking, the number of cancer patients is expected to increase by 70 percent over the next two decades.
This implies that current pathologists must be better equipped with technologies that facilitate rapid accurate detection, diagnosis, prognosis and treatment options.
Research suggests that 14.1 million adults in the world were diagnosed with cancer in 2012 out of which 8.2 million deaths from cancer occurred.
In India, out of the 1.8 million people living with cancer in 2012, about 683,000 deaths due to cancer were registered.
Mr Mark Lloyd, EVP & founder, Inspirata, said, "Inspirata is borne out of the need to bridge the gap and will revolutionize the practice of pathology worldwide-not through incremental advances, but with transformative, intelligent solutions that leverage computer vision and big data."