Grey matters: Osteopore shares rise on Singular opportunity to improve cranial implants through AI
Health & Biotech
Health & Biotech
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Osteopore is getting collaborative with Singular Health, the two med-techs collating data which OSX hopes may lead to a pathway to regulatory approval for use of AI in cranial implant design.
The latest collaboration is part of Osteopore’s strategy to continually improve and refine its technology, service and product lines.
Osteopore’s customised cranial implants are developed through CT scans of patients which are provided by surgeons.
Scans are processed by a software that converts them into 3D models, which can then be used to 3D print customised implants.
By using Singular Health’s AI-design engine, Osteopore aims to reduce modelling time, while maintaining or improving design accuracy.
Singular Health signed a binding memorandum of understanding (MOU) with Osteopore in October 2021, moving to evolve its design engine through a joint project with CSIRO Data61.
Results from the project have enabled a cranial implant to be designed in less than four minutes with 91% accuracy.
Building on the impressive results, Osteopore and Singular Health will collate empirical data to develop a pathway to full US Food and Drug Administration (FDA) approval for AI model use in Osteopore cranial applications.
The study will validate accuracy and efficiency of the AI-model and Singular Health’s 3Dicom Surgical software, where manual edits may be conducted to increase the implant accuracy to 100% against Osteopore’s existing workflow.
An expected outcome of the study is a reduction in product-to-customer timeframes and improved implant quality.
Osteopore Chief Executive Officer Goh Khoon Seng said the company will provide Singular Health with CT scans to train the AI algorithm to recognise skull defects and come up with a design to right the problem.
“The result is remarkable, with a user-friendly interface to assist surgeons in constructing a design to fill the defect,” he said.
“We look forward to a potential commercial outcome between the two companies.”
Osteopore Chief Technology Officer Lim Jing said the combinations of the technology will have far-reaching implications for the treatment of cranial defects.
“The future of data processing for accurate implant design is here, and Osteopore is excited to be at the leading edge of this development,” he said.
“We look forward to the outcomes of the comparative study and to an impactful outcome for our process and customers.”
Osteopore recently delivered $310k in revenue for Q4 of CY21, a marked improvement of 70% on Q3 figures. The company expects revenue to return to pre-COVID levels in its key target markets of South Korea and Vietnam, along with the US and European markets.
In December 2021, Osteopore secured a landmark $19m partnership with world-leading Singaporean institutions – the National Dental Centre Singapore and the Agency for Science, Technology and Research (A*STAR).
The $19m deal sees collaborative study on the development of the next generation jaw implants, using Osteopore’s patented biological additives and polymer compounds to enhance bone regeneration capability.
The Osteopore share price is up almost 3% today to 18 cents.
This article was developed in collaboration with Osteopore, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.