Think BioSolution

Nominated Award: Best Application of AI in a Startup
Website of Company: https://www.thinkbiosolution.com/
Think Biosolution was founded in March 2016 in Dublin, Ireland. Currently, it has a USA sales office in Rochester, NY. Think Biosolution is a global innovation leader in building customised clinical decision support platforms for assisted living facilities in the USA and Ireland. Think Biosolution is an ISO 13485 and ISO 14971 compliant SME. We have five full-time staff in Ireland and two full-time staff in NY, USA.
We have achieved an annual recurring revenue (ARR) of €1,408,012 in Q4 2020 (B2B Customers – ElderWood, Atria Senior Living, and Grane Healthcare, CareChoice). We have
also secured sales orders worth €2,412,200 with Direct Supply in Q3 2021-Q3 2022. Direct Supply is a €3 Billion+ ARR supplier to Assisted living facilities in the USA. Our first go to market is the assisted living facility market in the USA and EU. Our second go to market is the Home Health Care Agency. We are projected to achieve €19 Million in ARR in these two-target markets by 2025 (20% from the EU market, 80% from the USA).
Team:
(1) Dr. Shourjya Sanyal (CEO) – Shourjya has 10+ years of experience in Digital Health. Shourjya has led 5 EU funded projects (DIGI-B-CUBE, C-Voucher, EIT Bridgehead, European Space Agency, and EI Feasibility Study) in the last 3 years.
Shourjya is a senior executive with ten years of experience in strategy execution, project management, people management, and regulatory approvals. Domain expertise in regulatory planning, AI for health and QMS implementation in medical devices and digital health. Shourjya is a member of the Digital Health Technical Advisory Board at the World Health Organisation. Shourjya also is a correspondent in AI and Healthcare with Forbes Media, Shourjya also served as an Advisory Board Member, in CHQI RPM Standard Workgroup, Maryland. Shourjya also taught AI & Data Science for 5 semesters in Digital Skills Academy, Boston College.
(2) Koushik Kumar Nundy (CTO) – Koushik is a software engineer, with 10+ years of experience in software as a medical device. Koushik currently leads our patient-centric App development, clinical dashboard development, and integration with HL7/FHIR compatible Electronic Health Record (PointClickCare®, Cerner, eClinicalWorks and Athenahealth) and telehealth platforms (Vidyo in USA and Wellola in Ireland).
(3) Ash Watson (VP, QC & Product Engineering) – Ash is a computer science engineer from Trinity College Dublin with a strong background in regulatory affairs. Ash also has 5+ years of quality management systems. Ash deployed our ISO 13485 and ISO 14971 compliant QMS. Ash also got our platforms CE marked, FDA CDSS, HIPAA and GDPR compliant.
(4) Prof. Dr. Derek O’Keeffe – Chief Medical Advisor, Think Biosoluition. Professor of Medical Device Technology at National University of Ireland, Galway. Consultant at Galway University Hospital. Expert in Digital health with 40+ publications. Prof. Dr. Derek O’Keeffe has led 5 EU projects including (A Novel Digital Biomarker for Diabetes Diagnosis, COVIGILANT – Digital Contact Tracing, An Innovative Digital Acoustic Biomarker for COVID19, Care Connect and Diabetes Clinical Trials Network).
Reason for Nomination:
Product/Service – Our Chronic Disease Prevention Platform is CE-Marked, FDA CDSS, HIPAA and GDPR compliant.
Role of AI in the product – Our Chronic Disease Prevention Platform has three AI-powered risk indicators HyperDetect, CardiacDetect and DiabetesDetect.
How does the AI-powered risk indicators work with current clinical workflows?
Long term facilities with built-in wellness programmes require nurse managers to monitor patient vitals on a weekly basis to check for transitions to critical stages, in order to avoid patient hospitalisation. Long term facilities also collect patient vitals (blood pressure, blood glucose levels and weight) and symptoms once a week.
The nurse typically uses the last one/two weeks of data and simple thresholding to determine critical/non-critical risk. Even this requires up to 15-30 minutes per patient per week.
Our AI-powered risk indicators HyperDetect, CardiacDetect and DiabetesDetect can look into six weeks of data to extend this process to mild and severe stages. As a result, the conditions are diagnosed before the severe symptoms kick in and the cost of care skyrockets.
Our weekly report allows nurses to only focus on patients who have jumped up a category, and as a result, the nurse on average spend 5-10 minutes/patient per week. Since our risk indicators work with existing vitals data in the Electronic Health Record there is no need to change clinical workflows in long term care.
Why does it do beyond state of the art?
1. Only Set of risk indicators that works with data available in the EHRs. This enables us to sell to healthcare providers and health insurance enterprises.
2. Only platform that can tackle weekly multi-morbidity screening in mild stages using AI.
3. FDA approved AI-based risk indicators that completely adheres to FAIR data collection principles (Findability, Accessibility, Interoperability, and Reuse of digital assets).
Healthcare and cost-saving outcomes:
1. In a clinical study with 322 patients at NUGH Galway, we have shown HyperPreventDTx will add value by enabling 41% of geriatric with undetected hypertension [1] reduce the cost of care by €2,350/ patient/ year [2].
Additional market winning features in products:
1. Our Chronic Disease Prevention is also HL7/FHIR v4.0.1 complaint and is embedded in PointClickCare® the largest EHR in the long-term care marketplace.
2. Our platform is also integrated with EHRs like Cerner, eClinicalWorks, Athenahealth and Telehealth platforms like Vidyo in the USA and Wellola in Ireland.
3. Our Chronic Disease Prevention Platform currently uses Microlife A6 as a point of care device.
Why is our solution needed?
• There are approximately 50 million patients in Europe with multimorbidity (two or more chronic conditions)
• The cost of chronic disease management in the EU is €700 billion per annum
• 70-80% of healthcare costs are spent on chronic diseases
• Multimorbidity is frequently first diagnosed in critical stages, due to lack of clinical staff time to analyse patient vitals and symptoms every week
• Most models of care across the EU focus on a treating critical stage and a single disease approach and are not adaptive to the needs of patients with multiple chronic conditions
• Most models of care are also repetitive (multiple appointments), inconvenient, inefficient, confusing (e.g., conflicting advice from different clinicians), burdensome, and
potentially unsafe due to leading to poorly integrated and coordinated care (e.g., medication interactions)
• There is a distinct need for easy to use and integrated digital therapeutics that can diagnose multiple chronic conditions (hypertension, diabetes, and chronic kidney disease) in mild stages and administer nonpharmacological treatment for reversal of conditions. There are approximately 50 million patients in Europe with multimorbidity (two or more chronic conditions)
Describe the main ideas, models or assumptions involved – HyperDetect was trained using large clinical data-sets available in the literature. We first randomly split the data into two groups. The first training group was annotated by three clinicians into seven categories of hypertension and five categories of hypotension. Also, to reduce selection bias we made sure that all the twelve categories have at least 5% of the training dataset.
The second testing data set was used to test the accuracy of the HyperDetect risk indicator. The testing data was again independently annotated by three clinicians. The three physicians had 83% correlation, whereas the clinician’s group has 86% co-relation with HyperDetect risk indicator.
[1] Int J Public Health (2014) 59:759–767 DOI 10.1007/s00038-014-0573-7
[2] Mennini FS, et. al. Cost of poor adherence to anti-hypertensive therapy in five European countries. Eur J Health Econ. 2015 Jan;16(1):65-72. doi: 10.1007/s10198-013-0554-4. Epub 2014 Jan 5. PMID: 24390212.
Additional Information:
Think Biosolution has is the lead partner in the “HSE Chronic Disease Prevention Living Laboratory” at the National University of Galway Hospital, Ireland (NUGH). The Living Laboratory is a joint facility to test new AI-powered innovations with NUGH and HSE, Ireland.
Previous Awards/Grants won which had an AI Component:
2021 – European Space Agency Contract [€250K] – To build AI-powered GNSS tracking in a wearable medical device for multimorbidity tracking.
2021 – EIT Bridgehead Grant [€40K] – To commercialise our AI-powered solution in Canada
2021 – Winner of European C-Voucher Award for Circular Economy Solution [€100K] – The best circular economy business case that uses AI tools.
2020 – Silver in Medtech Startup Category, National Startup Award Ireland
2020 – European DIGI-B-CUBE Grant for At-Home COVID-19 Monitoring Solution [€150K] – To build AI-powered risk indicators for COVID-19
2018 – Healthcare Laboratory of the Year, Irish Laboratory Award, Dublin, Ireland – For building AI-powered risk indicators for hypertension
2020 – Unicorn Champion, Brain Catalyst, Roche – For building AI-powered risk indicators for diabetes
2020 – Open Data Engagement Fund, Data.gov.ie [€50K] – For building AI-powered risk indicators for Roche
2019 – European Space Agency Grant [€100K] – For building AI-powered Risk indicators that use GNSS tracking as an input
2019 – 10 Most Disruptive AI Companies in Healthcare in 2019, Analytics Insight
2018 – Startup Laboratory of the Year, Irish Laboratory Award, Dublin, Ireland – For building AI-powered risk indicators for diabetes
2018 – Luminate Award, Rochester, NY [€350K] – For building AI-powered risk indicators for diabetes, hypertension and cardiac conditions
2017 – Innovation of the Year, Irish Laboratory Award, Dublin, Ireland – For building AI-powered risk indicators for diabetes, hypertension and cardiac conditions
2017 – Startup of the Week, Silicon Republic, Ireland
2017 – Google Adopt a Startup, Google EMEA HQ, Dublin. Ireland – For evaluating product-market fit for our AI-powered risk indicators