Mamotest, a leading provider of breast cancer screening services, has achieved a significant rise in its mission to combat breast cancer in Latin America. The company has successfully secured an impressive $3.3 million in funding dedicated to enhancing breast cancer screening initiatives throughout the region.
Mamotest's success reflects its commitment to improving breast cancer detection while highlighting the growing importance of personalized healthcare in the breast cancer diagnostics and screening sector.
According to the BIS Research report, the global next-generation breast cancer diagnostic and screening market was valued at $3.13 billion in 2022 and is anticipated to reach $9.88 billion by 2032, witnessing a CAGR of 12.57% during the forecast period 2023-2032.
Mamotest secured this pre-series funding from notable investors, including Johnson & Johnson Impact Ventures, Merck, Sonen Capital, and venture capital firm Sky High.
Need for Breast Cancer Screening
Radiologists working in developing nations often encounter a persistent source of frustration when screening patients for breast cancer due to the unfortunate discovery of the disease at a stage where treatment options are limited.
According to the American Cancer Society, breast cancer boasts a survival rate of 99% in the U.S. and other similarly advanced countries, where approximately 27,000 cases are diagnosed each year, as estimated by the Centers for Disease Control and Prevention (CDC).
However, in developing countries and rural regions, that survival rate plunges to a mere 27%. The critical factor distinguishing these statistics is early detection.
Mamotest’s Breast Cancer Screening Technology
Mamotest employs artificial intelligence (AI) technology for interpreting mammogram outcomes and utilizes telehealth services to deliver the results to patients.
According to the company, since the introduction of its digital health system last year, it has successfully screened 650,000 women. Remarkably, 87% of patients identified as having cancer were diagnosed at an early stage, enabling timely treatment.
Mamotest's screening and detection technology plays a pivotal role in facilitating these diagnoses. To enhance its system's ability to interpret mammograms and achieve faster and more precise cancer detection, the company has formed partnerships with various organizations, including the German AI platform Vara. By leveraging these collaborations, Mamotest has effectively trained its AI system to identify abnormalities that may elude human observation, thereby streamlining the patient screening process while maintaining accuracy.
In addition to its advanced screening technology, Mamotest has developed its own patient-management platform. This platform offers patients the convenience of tracking their medical history, test results, and personal data, providing a comprehensive approach to healthcare management.
Conclusion
Mamotest's endeavors are gaining global recognition, with prestigious accolades highlighting its accomplishments. The company has been chosen by esteemed institutions such as the United Nations and the World Economic Forum as one of the leading health tech companies globally. Additionally, Mamotest secured the esteemed 2022 Zayed Sustainability Prize, further underscoring its commitment to sustainability and impactful healthcare solutions.
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