Lancor is developing a blockchain-based AI tool to enable the early identification of uterine cancer.
The method should provide 90 percent accuracy, whereas the precision of conventional Pap tests is only 60-70 percent. A research laboratory was set up in Graz for further research on the patented Opto-magnetic Imaging Spectroscopy (OMIS) process. The company cooperates with the Graz University of Technology, the Medical University of Graz and Sigmund Freud University in Vienna. Lancor established a subsidiary in Austria for this purpose. Research will be supported by public funding over a period of five years. The device itself is expected to be already launched on the marketplace in 2019. The company hopes to have 10,000 devices available in the next five years.
“Identifying cancer at an early stage is the key to save lives. Lancor Scientific has set itself the task of making an accurate and cost-effective cancer identification technology available around the world. The confidence placed in us by the Austrian government and the partnership with specialists at the Graz University of Technology form the basis for continuing this journey and making a minimum of 10,000 devices available over the next five years. In this case, 500,000 cancer tests can be carried out each day”, says Lancor Scientific CEO Aamir Butt.