Magentiq Eye

Magentiq Eye Overview

Magentiq Eye offers a groundbreaking AI aided colonoscopy solution. The company uses the growing power of deep learning, image processing, and video processing to help doctors become more accurate and effective, potentially saving millions of lives and billions of dollars. The company’s first product is MAGENTIQ-COLO, which is used to increase adenoma (polyp) detection rates and the overall quality of colonoscopy exams. MAGENTIQ-COLO is a real-time adjunct to the colonoscopy device that points out suspicious locations of polyps in the videos, thereby helping doctors reduce their polyp miss-rates. Given the large population that undergoes colonoscopy annually, even a modest decrease in polyp miss-rates has the potential to save many lives. MAGENTIQ-COLO has received the CE mark and FDA clearance. It also completed a successful multi-center international clinical trial to attain clearance for marketing in the USA. Its next version includes additional features such as polyp size estimation, polyp characterization, and additional quality measurements.

Cumulative Funding Raised Over Time ($)

Latest News

Feb 25, 2024 · nocamels.com

growth-positive

Israeli Colonoscopy Tech Gets Approval From Top Medical Journal

Israeli company MAGNETIQ-EYEs AI-assisted colonoscopy technology has been endorsed by the Lancet Digital Health journal. The Lancet conducted a 14-month study of the technology at 10 global medical centers, involving 31 endoscopists and 952 patients. The study found that the MAGNETIQ-EYE platform increased the average detection rate for adenoma by 7% and had a 17% lower rate of missed detection. The platform is currently in use in the United States and Europe.

Customers

Feb 22, 2024 · www.medicaldevice-network.com

growth-positive

Magentiq's AI-aided colonoscopy tool increases adenoma detection by 7%

Israel-based Magentiq Eye has published positive data from a clinical trial assessing its AI-powered colonoscopy tool, Magentiq-Colo CADe. The device uses AI to analyse video output from the colonoscope during the procedure in real time and highlights adenoma lesions to help physicians detect these polyps. The trial showed a 7% absolute value and 37% relative increase in adenomas detected per colonoscopy with Magentiq’s tool, compared to the conventional colonoscopy group. The device received a 510(k) clearance from the US FDA in July 2023.

Customers

Jul 31, 2023 · www.prnewswire.com

growth-positive

FDA Authorizes Marketing of MAGENTIQ-COLO™, a Cutting-Edge AI Gastrointestinal Lesion Software Detection System that Helps Detect Lesions in Real Time During Colonoscopy Procedures

MAGENTIQ-EYE LTD., an Israeli-based technology company, has received clearance from the U.S. Food and Drug Administration (FDA) for its MAGENTIQ-COLO™ device, an AI solution for colonoscopy. The device, which significantly increases the Adenoma Detection Rate (ADR), will be available in the United States in the coming weeks. This follows the European CE Mark and Israel AMAR approval received in mid-2021. The device is expected to help in detecting early signs of colorectal cancer (CRC), the third-leading cause of cancer-related death in the United States.

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Funding

Team Members

1

Employees: 11-50

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Locations

Ben Gurion Blvd 6, Haifa, Israel

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