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Optellum, AI Lung Cancer Diagnosis Innovator, Secures $14M Series A Funding to Accelerate Expansion

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Lead investor Mercia, alongside Intuitive Ventures and Black Opal, invests in Optellum’s pioneering AI-powered lung-health technology

OXFORD, England and HOUSTON, Sept. 27, 2022 /PRNewswire/ — Optellum, an Oxford-based medtech company that provides a breakthrough AI platform to diagnose and treat early-stage lung cancer, has raised $14 million in a Series A funding round. The investment will enable Optellum to scale its base, operations, and commercial launches in the UK and USA; accelerate research and development; and expand its platform into personalized therapy decisions by integrating imaging data with molecular data, robotics, and liquid biopsies.

 

This funding round was led by Mercia, with additional investors Intuitive Ventures (Sunnyvale, CA, USA) and Black Opal Ventures (New York, NY, USA). Existing investors, including St John’s College in the University of Oxford, IQ Capital, and the family office of Sir Martin & Lady Audrey Wood, also participated in this round.

Lung cancer is the most common type of cancer and the leading cause of cancer deaths in the world. Approximately 150,000 people in the United States and 1.8 million people worldwide die from lung cancer each year. The current worldwide five-year survival rate is 20 percent, primarily because most patients are diagnosed after symptoms have appeared and the disease has progressed to an advanced stage (Stage III or IV). In contrast, the survival rate for small tumors treated at Stage 1A is up to 90 percent. This disparity highlights a critical need for diagnosis and treatment at the earliest stage possible.

Optellum is the leader in AI-enabled lung cancer diagnosis, and the first and only medtech company to attain FDA clearance, CE-MDR in the EU, and UKCA in the UK for its software platform Virtual Nodule Clinic. This first-of-a-kind platform can help physicians identify and track at-risk patients, and optimally diagnose the signs of lung cancer early, so treatment can be started sooner for patients with tumors, and invasive procedures such as biopsies on benign lesions can be minimized.

Jason Pesterfield, CEO at Optellum, said: “With this strong support and commitment of highly specialized investors, we are positioned to accelerate commercial deployment in both the UK and the United States to expand our installed base. Following years of research and clinical trials that have shown the impact of our software on the diagnosis of at-risk lung nodules, we’re focused on expanding patient access to this crucial technology and identifying deadly lung cancer faster in more at-risk people. The funding will also boost our research and development with world-leading institutions and partners to progress further innovation.”

Lead investor Mercia brings expertise in software technologies having a significant impact on global health issues and an existing portfolio that includes AI and machine-learning technology.

Investment Director at Mercia, Stephen Johnson, said: “Optellum is the latest in a series of companies to channel research from the UK’s world-leading universities into commercially viable products that can make a difference to the provision of medical care. Having observed Optellum achieve great milestones over the years, we are now excited to become part of their success and apply our experience with scaling up software and deep-tech companies to help accelerate Optellum’s impact on patient lives across the world.”

Intuitive Ventures, the independent venture-capital arm of Intuitive (NASDAQ: ISRG), a world leader in medical robotics, including lung cancer care, was founded in 2020 to accelerate the future of minimally invasive care. The investment team supports Optellum’s ambitions to think and move beyond earlier diagnosis into decision support across the treatment pathway, integrating liquid biopsies, molecular tests, and drug therapies.

“Lung cancer is an urgent public health crisis and Optellum’s groundbreaking approach utilizing AI to accelerate early detection and intervention may fundamentally alter the healthcare community’s approach to combating this disease,” said Oliver Keown, MD, managing director of Intuitive Ventures. “Optellum is uniquely positioned to align and provide considerable value to patients, providers, and payers alike. Intuitive Ventures is thrilled to provide our full arsenal of financial and strategic support to Optellum as we work towards a world of better outcomes for cancer patients.”

Physician-led, female-founded fund Black Opal Ventures has a mission to build better businesses and a better future at the intersection of healthcare and technology. Its expertise in reimbursement and health economics will assist Optellum, which recently announced a New Technology Ambulatory Payment Classification for Medicare patients in the USA.

Founder Tara Bishop, MD, commented: “We value solutions that make medicine more accurate and accessible. The strong validation data that underpins the Optellum solution has demonstrated its ability to make a difference to patients. We share Optellum’s vision of making this available to every doctor in every hospital – and transform the diagnosis and treatment path for lung cancer.”

Optellum’s platform was developed and clinically validated in partnership with leading universities and healthcare systems around the world. Optellum also has strategic collaborations with GE Healthcare and the Lung Cancer Initiative at Johnson & Johnson to accelerate clinical deployments and continue the advancement of the platform. In the UK, Optellum’s solution is being used to predict at-risk lung nodules in a multi-center study with NHS Trusts as part of a major investment in AI for healthcare.

About Optellum

Optellum is a commercial-stage lung health company providing artificial intelligence decision-support software that assists physicians in early diagnosis and optimal treatment for their patients. The company was founded so that every lung disease patient is diagnosed and treated at the earliest possible stage, when the probability of better health outcomes is highest. In 2021, the Oxford-based medtech company achieved FDA 510(k) clearance for the application of AI decision-support software in lung cancer diagnosis, and has since announced strategic partnerships in the USA with GE Healthcare and the Lung Cancer Initiative at Johnson & Johnson, while the Virtual Nodule Clinic has been implemented in leading healthcare systems across the USA. Optellum has headquarters at the Oxford Centre for Innovation in Oxford, United Kingdom and a U.S. office at the Texas Medical Center in Houston, Texas. For more information, visit optellum.com or follow us on LinkedIn and Twitter.

MEDIA CONTACT:
Tim Cox | CubanEight for Optellum | timcox@cubaneight.com

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SOURCE Optellum

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New Survey Shows TikTok Has Major Influence on Holiday Gift Ideas, With 55% Stating They Have Already Found Ideas on the Platform This Season

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Data also reveals the impact of content on purchasing decisions, with 69% of those surveyed placing importance on product videos, unboxings and user reviews before purchasing a holiday gift on the platform

BALTIMORE, Nov. 22, 2024 /PRNewswire/ — With the season’s biggest shopping holiday around the corner, marketing agency MGH today revealed the results of a new survey highlighting TikTok’s influence on holiday gift idea generation. The survey found that more than half (55%) of survey respondents stated they have already found ideas for holiday gifts this year while scrolling on the popular platform, and 39% have purposefully searched TikTok for holiday gift ideas. 

TikTok users are looking for gift ideas in many different categories. Those who have already found or searched TikTok for holiday gifts this year were looking for food and beverage gifts (45%), personalized gifts (42%), technology gadgets (41%), beauty and skincare products (39%); clothing and accessories (39%); DIY gifts (38%); home decor and lifestyle items (36%); and experiences (36%). Additionally, 33% of respondents were seeking toys and games for children.

Not only will these survey respondents search for gifts on TikTok, but they will often purchase items directly on the platform. In fact, 47% percent of respondents have purchased items for themselves on the TikTok Shop, and 37% have purchased items for others on the TikTok Shop.

When it comes to the influence of content on TikTok, videos of unboxings, user experiences and reviews greatly impact purchasing decisions. Overall, 69% of respondents found these videos important when deciding whether to purchase an item.

“With more than 170 million users in the U.S. and expectations that TikTok sales will rise tenfold this year to $17.5 billion, this survey demonstrates the undeniable influence TikTok will have on holiday gift idea generation and purchasing decisions this season,” commented Ryan Goff, EVP, Chief Marketing Officer and Social Media Marketing Director at MGH. “Content creators and businesses alike should take note of the opportunity the platform presents, and the impact that compelling content and reviews have on purchasing decisions as we dive head first into the competitive holiday season.”

Results were collected on Nov. 13, 2024 and are based on 1,142 U.S. adults ages 18+ who watch TikTok videos. The survey was conducted via the SurveyMonkey Audience Panel by MGH, a full-service marketing agency specializing in TikTok and social media marketing. The survey results have a +/- 2.959% margin of error.

To read more about the survey results, visit our blog.

About MGH
Based in Hunt Valley, Md., MGH is an integrated marketing and communications agency offering advertising, social media marketing, public relations, media planning/buying, creative design and production, website design and development, market research, and influencer marketing. The agency works across a variety of industries, including food and beverage, CPG, tourism, education, home services, healthcare, and more.

Visit our website for more information on MGH and its marketing services.

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SOURCE MGH

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Legal Notice Regarding ESHA Data Security Incident

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FORT WORTH, Texas, Nov. 22, 2024 /PRNewswire/ — ESHA, Inc (“ESHA”) provide certain revenue cycle management services to healthcare providers, including Aamir Zuberi, M.D. P.A., Acton Medical Clinic, Adil M Choudhary, M.D., P.A., Apex Wound Care, Benecia Williams, D.O., Farrukh Bhatti, Dr. Lan Le, Hanane Chichane, MD PA, ID Experts, PLLC, iMedicine & Primary Care Associates PLLC, Imran Patel, Johnna Jones, D.O., FACOS PA, Khalid Bazir, M.D., Lung & Sleep Specialists of North Texas, Medical Associates of North Texas, Meria Aulds, M.D., P.A., North Texas Lung & Sleep Clinic PA, The Lung Consultants LLC, Trinity Heritage, PLLC, Valor Interventional Pain LLC, Hayden Smith, Omar Selod, Austen Watkins, Gastroenterology Center PA, TCIDA Pharmacy, Texas Center Infectious Disease Association, and Premier Gastroenterology of Texas (collectively “the Facilities”).  ESHA recently identified and addressed a security incident that may have involved personal information and/or protected health information of the current, former or prospective residents and/or staff members of the Facilities.  ESHA began providing notice on November 15, 2024 to all individuals potentially impacted by this incident.  This notice describes the incident, outlines measures that ESHA has taken in response, and advises potentially impacted individuals on steps that they may take to further protect their information.  This notice constitutes substituted services for those clients whom ESHA does not have sufficient contact information to make individual notice as required under applicable law. 

On July 19, 2024, ESHA became aware of a data security incident, including ransomware, which impacted its server infrastructure and took its systems offline.  ESHA immediately undertook efforts to restore its servers and undertook additional affirmative steps to safeguard the security of data maintained on its systems.  ESHA also simultaneously retained a forensic investigation firm to determine the nature of the security compromise and identify any individuals whose information may have been compromised.

The forensic investigation determined that access to ESHA’s systems occurred on approximately July 13, 2024 through July 17, 2024.  The investigation also identified certain files that may have been accessed or acquired in connection with the incident.  In continuing its thorough investigation, ESHA undertook a comprehensive manual review process to review these files and identify the specific individuals with personal information and/or protected health information contained therein.  This comprehensive manual review process concluded on or about September 16, 2024.

As stated above, following the data security incident, ESHA immediately undertook all efforts to restore its servers, and also undertook additional affirmative steps to safeguard the security of data maintained on its systems.  ESHA retained a forensic investigation firm to thoroughly investigate the incident and are providing notification to all individuals whose personal and/or protected health information may have been accessed and/or acquired in connection with the incident in an abundance of caution.  ESHA has obtained confirmation to the best of its ability that the information is no longer in possession of the third party(ies) associated with this incident, and it is entirely possible that any specific personal and/or protected health information was not compromised as a result of the incident.  Nonetheless, ESHA has also offered to the impacted individuals access to complimentary credit monitoring. Please be advised that we are continuing to work closely with leading security experts to identify and implement measures to further strengthen the security of ESHA’s systems to help prevent this from happening in the future. 

Individuals who have received a notification or who believe that they may have potentially been impacted by this incident are invited to contact 888-458-5630 between the hours of 9:00am to 9:00pm EST, Monday through Friday.  ESHA and the Facilities understand the importance of protecting the protected health information and personal information maintained on its systems and deeply regrets any concern that this may have caused the potentially impacted individuals.   

View original content:https://www.prnewswire.com/news-releases/legal-notice-regarding-esha-data-security-incident-302313317.html

SOURCE ESHA, Inc.

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Project Liberty, WeAre8, and Frequency Network Foundation Partner to Ignite a People-First Social Media Revolution

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Building on their shared mission to give people control of their digital lives, Project Liberty, Frequency Network Foundation, and WeAre8 are transforming social media through the Frequency blockchain, empowering people with ownership, transparency, and the freedom to engage in a healthier, fairer digital world

WASHINGTON, Nov. 22, 2024 /PRNewswire/ — Project Liberty, Frequency Network Foundation, and WeAre8, a transformational social media platform, today announced a collaboration that will accelerate their innovative, people-first digital solutions, delivering a more transparent and economically beneficial social media experience. Project Liberty, Frequency Network Foundation and WeAre8 have built digital experiences that prioritizes individual empowerment, economic fairness, and genuine digital interactions, breaking away from Big Tech’s profit-driven algorithms – and together are embarking on the next phase of this revolution.

This collaboration marks a major milestone toward putting control of our digital experiences back into the hands of the people. WeAre8 plans to integrate with the Frequency blockchain, which will allow users to benefit from increased financial value and regain control of their digital identity. This revolutionary internet infrastructure was developed by the Frequency Network Foundation and Project Liberty. 

“WeAre8 is living proof that a digital world free from Big Tech’s addictive algorithms can be amazing,” said Frank McCourt, Founder of Project Liberty. “By placing power back in the hands of people, individuals can control their own experiences and benefit financially from their interactions with content. Project Liberty is honored to join forces with WeAre8 as we usher in a new digital era of people’s platforms powered by a people’s internet.”

“This collaboration with Project Liberty marks a pivotal moment for a reimagined digital world that serves the people and supports the planet,” said Zoe Kalar, Founder and Chief Executive Officer of WeAre8. “We have transformed social media by eliminating toxic content, removed algorithms so people can reach all their followers with every post, and built a transformational economic model where the ad revenues are shared with people. Project Liberty brings all our citizens another layer of independence, protection and freedom and we are excited about what our partnership means for people when we are all truly free from big tech control.”

A transformational feature of WeAre8 is its commitment to redistributing wealth back into the hands of people through its business model: 60% of its ad revenue is returned directly to citizens (users), charities, creators, and planet-impact projects. Unlike traditional platforms that force advertising into people’s feeds and encourage endless scrolling,  WeAre8 separates the ads from the feeds, enabling people to discover and even link off-platform from feed posts, while giving them choice on when they watch ads. And people are happy to watch them when they are valued. Every ad dollar is shared with people for every completed ad view, empowering them to direct these funds toward community initiatives, charitable causes, mobile bills, subscriptions or their personal needs.

For more information about WeAre8, visit here. For more information about Project Liberty, visit here. For more information about Frequency, visit here.

ABOUT PROJECT LIBERTY

Project Liberty is leading the movement to give people back control of their lives in the digital age by ensuring they have a voice, choice, and stake in a better internet. Started in 2019 and publicly launched in 2021 by civic entrepreneur Frank McCourt and supported by a $500-million commitment, Project Liberty includes the work of the Project Liberty Institute—a 501(c)(3) with an international partner network that includes Georgetown University, Stanford University, ETH in Zurich, and other leading academic institutions and civic organizations—and a technological team that is focused on developing the next generation of digital infrastructure. Project Liberty’s activities include the release of the Decentralized Social Networking Protocol (DSNP), which is stewarded by the Institute and available as a public utility to serve as the bedrock of a more equitable web and support a new era of innovation that empowers people over platforms and serves the common good.

ABOUT WEARE8

“The People’s Platform”

WeAre8, founded by tech entrepreneur Zoe Kalar, is a transformational social media platform designed to provide a healthier digital home for humanity. People are protected from toxic content, your followers actually see your posts (no controlling algorithms), and everyone benefits because the money made from advertisers on WeAre8 is shared with people, communities, charities, and planet-saving projects. It’s more than just a platform—it’s a movement towards economic liberation that shifts the power of big tech back into the hands of the people. To learn more, visit www.WeAre8.com.

ABOUT FREQUENCY

Frequency is a blockchain that powers the people’s internet through the Decentralized Social Networking Protocol (DSNP). It provides the infrastructure for creating self-sovereign digital identities, public social graphs, and decentralized content sharing, advancing data privacy and user control. Brands, developers, and platforms can use Frequency to integrate scalable, interoperable social features without the need for deep expertise in blockchain. This implementation of DSNP is aligned with Project Liberty’s mission to give people control over their digital lives while fostering innovation in decentralized technology.

For more information, please contact:
press@projectliberty.io 

Logo – https://mma.prnewswire.com/media/2413215/5043273/Project_Liberty__Logo.jpg

 

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