State grant will help AI Metrics further develop AI technologies for advancing cancer screenings and overall radiology assessments
BIRMINGHAM, Ala., Sep. 14, 2022 /PRNewswire-PRWeb/ -- AI Metrics, an early stage radiology software company, announced that it has been selected to receive funding by Innovate Alabama. The Innovate Alabama Supplemental Grant Program awarded more than $4.5 million in funding to 30 companies that will utilize these funds to support and grow their businesses within the state -- benefiting local business owners who are commercializing modern technology as well as the state's regional and national economic footprint.
AI Metrics, launched in 2019 by Bob Jacobus, Paige Severino, and UAB radiologist and researcher Dr. Andrew Smith, is developing software to assess cancer treatment effectiveness more accurately. AI Metrics received two grants, which will be used to develop and validate artificial intelligence (AI) algorithms that assist radiologists with the diagnosis and staging of cancer and other lung diseases on computer scan images.
"We are honored to be selected as a recipient and grateful to Alabama Governor Kay Ivey and the Innovate Alabama Board of Directors. There is a great deal of research and work to do in the field of radiology for cancer care, and this grant allows us to move quickly to further develop and implement our technology," said Jacobus, CEO of AI Metrics. "The Innovate Alabama Supplemental Grant helps emerging innovators like AI Metrics improve the quality of life not only in Alabama, but around the globe."
"The purpose of the Innovate Alabama Supplemental Grant Program is to create opportunity for local innovators and entrepreneurs by providing capital that supports their business goals and advances our collective mission to make Alabama a premier destination for innovation and technology. We are inspired by the tenacity of each grant recipient and proud to invest in our top-talent right at home, where the impact is tenfold," said Alabama Finance Director Bill Poole, Innovate Alabama chair.
Innovate Alabama is the first statewide public-private partnership focused on entrepreneurship, technology, and innovation. The board of directors is comprised of 11 innovation leaders appointed by and including Gov. Kay Ivey, collaborating across sectors to advance industries, drive technology and facilitate an environment where innovation and entrepreneurship thrive.
"We're fortunate to have so much innovation in Alabama and are proud to headquarter our startup here," said Dr. Smith. "Investing in technology and talent will help keep Alabama competitive and attract other top companies that want to do business here."
To learn more, please go to [http://www.innovatealabama.org. To learn more about AI Metrics, and its executive leadership team, please visit https://www.aimetrics.com/
About AI Metrics
AI Metrics was founded by a radiologist to help radiologists who evaluate advanced cancers be more productive. The company's FDA-cleared system helps radiologists evaluate cancer patients twice as fast, with increased accuracy, decreased variation in care, and clearer reports for oncologists and their patients. The company holds 20 U.S. and international patents, and its technology is currently in use at six healthcare institutions globally.
Media Contact
Erin Farrell-Talbot, Farrell Talbot Consulting, 1 9172329309, [email protected]
SOURCE AI Metrics
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