Deep Bio said Friday that its deep learning-based prostate cancer pathology image analysis software, DeepDx-Prostate Pro, was selected as the Public Procurement Service's (PPS) innovative prototype (Fast Track II) in the bio-health area.
To improve public services and innovate technology, the PPS designates relevant products and associated experts after evaluating various factors, including public interest and innovation. If goods or services are designated as innovative products, they will receive a three-year private contract and innovative market product registration.
Innovative prototypes are products that have won recognition for their innovativeness according to criteria and procedures made by the PPS administrator and the Minister of Economy and Finance to help them develop initial marketing channels before their commercialization.
DeepDx-Prostate Pro has been registered with the pilot purchase project of the PPS through the innovation market. It will likely lay the foundation for its market entry and utilization of digital medical devices in the field.
DeepDx-Prostate Pro is medical software that classifies the histological severity of prostate cancer by analyzing the whole slide image (WSI) of prostate acupuncture tissue with AI. It won approval from the Ministry of Food and Drug Safety last November.
It provides analysis results in five grades and Gleason scores -- a method for classifying different prostate cancer tissues.
To evaluate its performance, the software’s analysis was compared with the analysis of three pathologists and it showed high consistency with the pathologist’s diagnosis. It also greatly reduced the time for diagnosis, improving work efficiency, Deep Bio said.
"This designation has officially recognized the innovation and technology of our prostate diagnostic AI aid," Deep Bio CEO Kim Sun-woo said. "We expect it to help improve the accuracy and efficiency of pathology in the medical field."
Meanwhile, Deep Bio said it is conducting joint research with leading universities and medical institutions at home and abroad, including Stanford Medical School and the Dana-Farber Cancer Center, and other pathology medical image management platform companies to expand its services.