The Botkin.AI platform analyzes and detects pathologies using CT, X-ray and mammography diagnostic tests. The project involves the company’s patented technology for creation of artificial intelligence (AI)-based healthcare customer mathematic models. The development is owned by Intellogic, a resident of the Skolkovo Foundation medical biotechnology cluster. Botkin.AI was granted the registration certificate for an AI-based 2b risk class medical article, which is unique for Russia.
Unicorn Capital Partners is the lead investor for round B of the project. The co-investor is Tashir MEDICA, an investment holding company specializing in funding and asset development in the healthcare sector. All the current investors of Intellogic, namely the venture capital funds RBV Capital, Digital Evolution Ventures, PrimerCapital and ExpoCapital, have taken part in the round as well.
Arcady Dvorkovich, Chairman of the Skolkovo Foundation Board, said, “Thanks to use of the AI-based technology, Botkin.AI makes the recognition of CT diagnostics images and the diagnosing more efficient and affordable and enables radiotherapists to ascertain thousands of sickness cases during early stages. The project has proved remarkably effective during the difficult pandemic period through drop in physicians task load, when of especial importance were the rapidness and high accuracy of pathology diagnosing. Such lifesaving solutions, enabling people to live for many more years, are those supported by Skolkovo Foundation.”
Arsen Galstyan, Managing Partner of Tashir MEDICA, shares this view, “We rate high the potential of using artificial intelligence in the healthcare sector, especially functional diagnostics. The Botkin.AI solution is very likely to become viable for scaling in both the local and international markets.”
Within the frames of round B, the platform creators were able to raise additional 160 mln rubles in investments, which are to be used for further development and scaling of the service.
“From March 2 through December 7, 2020, an experiment was conducted to test the computer vision technology. The Botkin.AI service was made available to 139 diagnostic devices, over 150 thousand medical investigations were processed by specialists with its help”, emphasized Sergey Morozov, Chief Specialist for X-Ray and Instrumental Diagnostics for Moscow and the Central Federal District of Russia.
The Corporate/M&A attorneys of Andrey Gorodissky & Partners provided legal support to Tashir MEDICA in this project. Dmitry Lubomudrov and Jose Tobar under supervision of Alexey Gorodissky supported Tashir MEDICA at every stage of the transaction and, in particular, reviewed the transaction terms, advised the client on the terms of the transaction documents and took part in drafting them and negotiating the investment terms.
