June 30, 2021
The MedTech scale-up Nicolab has just closed AU$13 million in a Pre-IPO round led by Canaccord Genuity Australia. Founded in 2015 following the renowned MR CLEAN trial in The Netherlands1, Nicolab developed an end-to-end artificial intelligence solution, StrokeViewer, that ensures stroke patients receive the right treatment as fast as possible. Nicolab believes connecting human and artificial intelligence will revolutionize emergency care.
StrokeViewer is a clinical-decision support tool that combines artificial intelligence (AI) algorithms and a communication platform to help stroke experts make faster, well-informed treatment decisions. Even today, too many patients do not receive the right treatment on time. A recent study showed that receiving treatment 1 minute earlier results in 1.3 days of additional disability-free life and saves on average €309 of healthcare costs in the Netherlands2.
Stroke incidence and associated costs are rising drastically due to an aging population and increasingly unhealthy lifestyles.
StrokeViewer allows physicians to diagnose patients remotely, on any mobile or desktop device at any time of day, helping hospitals to cope with the rise in stroke patients. The secure cloud-based infrastructure of the solution makes implementation straightforward, requiring no additional hardware.
Nicolab has been selected for Techleap.nl Rise program, the showcase for future unicorns.
Since 2015, Nicolab has evolved from a group of academic researchers and physicians to an international team spanning 3 continents. Nicolab attracts top talent from across the world to their Amsterdam Headquarters, where all technology and algorithms are developed.
The year 2020 marked many milestones for Nicolab; they received both FDA clearance and US reimbursement (New Technology Add-on Payment) for StrokeViewer, entered new markets including the UK, Germany and Australia, and proved the clinical impact of their solution on patient outcome.
“We have the absolute A-list of Australia’s leading institutional funds and family offices on board to back us in our mission. For many patients, the right treatment comes too late. Together with our new partners and investors, we are on a mission to empower physicians worldwide to provide every patient with the right treatment on time!”Merel Boers, Nicolab co-founder and CEO
The newly raised funds will be used to accelerate the development of Nicolab’s artificial intelligence solutions as well as fund the international growth of the company, to help them achieve their mission of empowering physicians worldwide to provide patients with the right treatment in time.
Nicolab was founded in 2015 as a spin-off from the Amsterdam University Medical Center in the Netherlands and has offices in Australia, Europe and the United States. An international team of researchers, developers and physicians connects human & artificial intelligence to empower physicians in emergency care with end-to-end solutions. StrokeViewer consists of a comprehensive set of tools to support the entire stroke workflow. Local availability of StrokeViewer functionality is subject to applicable CE marking, TGA and FDA approval.