We're proud to be acknowledged in Signify Research's Product Developments & Technology Trends report. The trends discussed in the report are set to shape the future of the AI market for the coming years. 

Find out more in this recent article The Technologies Making Moves in Medical Imaging AI, published in Health Tech Hot Spot

We're proud to be acknowledged in Signify Research's Product Developments & Technology Trends report.

The Technologies Making Moves in Medical Imaging AI

Australian medical technology company, today announces the formation of the Company's American subsidiary, Artrya USA, Inc. (Artrya US)

Artrya Opens US Operations in Los Angeles

AI medical technology company Artrya Limited is announcing its partnership with leading global commercial services provider 

AI medical technology company Artrya Limited is announcing its partnership with leading global commercial services provider EVERSANA Life Sciences LLC.


Australian AI Company Artrya Announces Major UK Commercialisation Partnership with Eversana

Medtech newcomer Artrya Ltd. listed on the Australian Securities Exchange (ASX) in an AU$40 million (US$28.6 million) initial public offering to commercialize its software that analyzes heart computed tomography (CT) scans via artificial intelligence (AI) to better diagnose coronary artery disease.

Medtech newcomer Artrya Ltd. listed on the Australian Securities Exchange (ASX) in an AU$40 million (US$28.6 million) initial public offering 

Artrya lists on ASX in AU$40M IPO to advance coronary artery disease AI software

Perth-based medtech startup Artrya is expanding to the US with the formation of a new American subsidiary.
The company — which has created an AI-based solution that supports physicians in the diagnosis of coronary artery disease — said Artrya USA was a strategic move for the business.

Ted Schwab and Jory Tremblay have been appointed as co-CEOs of the company's US subsidiary. 

Perth MedTech company Artrya expands to US with new subsidiary

The medical technology company listed today after raising $40 million at $1.35. Its share price is up ~13% to $1.52.

How did this week’s five IPOs perform?

Artrya has lodged a prospectus with ASIC with a view to list on the Australian Stock Exchange. This has offered investors an opportunity to buy into a business with a mission to save lives through better detection of heart disease. The funds from the IPO will go towards further research and development, as well as supporting international expansion in 2022. Read more about the commercialisation of our business:

Click here to read the article on Business News Australia

Artrya has lodged a prospectus with ASIC with a view to list on the Australian Stock Exchange.

Heart disease AI diagnostics med-tech Artrya to list at $105m valuation

Artrya's co-founder and Managing Director, John Barrington AM, recently took part in a Q&A with Stockhead. Read more about the significant market opportunity that Artrya is addressing with proprietary AI - for the benefit of patients, healthcare professionals and health systems around the world.

Click here to read the Q&A with Stockhead

Artrya's co-founder and Managing Director, John Barrington AM, recently took part in a Q&A with Stockhead.

Artrya MD John Barrington on next month’s listing and commercialising AI health tech

Initial agreement includes comparison study of patient cardiac CT scans read by experts to those read by AI-based technology.

Artrya signs first U.S. Hospital Clinical Partnership with Huntsville Heart Center 

Artificial intelligence medical technology company Artrya (AYA) listed on the ASX today following the completion of its $40 million raise.

AI Medtech Artrya lists on stock exchange with market cap of $105M

Move over Appen, the new AI player in town went gangbusters on its first day as a public company.

New artificial intelligence ASX share rockets 13% on debut

Managing Director John Barrington AM kicks off with the startling statistic that the death rate from coronary disease is little changed in 50 years despite advances in medicine. Since listing late in 2021, John has been busy deploying the company strategy across the US, UK and Europe, and shares his insights into the recent December quarter update. The company's results of clinical trials and the roadmap to commercialisation of the algorithm will be announced to the market in due course.

John Barrington AM talks to ausbiz about the company’s strategy across the US, UK and Europe, and shares insights into the recent December quarter update.

This Aussie MedTech is fast going global

Amid a biotech boom, see how Artrya, an aussie medtech company, is pioneering the detection and assessment of the underlying cause of heart attack. Globally, we will change how the world sees coronary artery disease.

Click here to read the article in the Sydney Morning Herald

Amid a biotech boom, see how Artrya, an aussie medtech company, is pioneering the detection and assessment of the underlying cause of heart attack.

From the heart: Pandemic no barrier for medtech’s ASX listing

Artrya Ltd has inked its first US clinical partnership with Alabama-based Huntsville Heart Center Inc.

Together with its new partner, Artrya will embark on its first retrospective clinical study in the States.

Huntsville is considered a national leader in coronary computed tomography angiography (CCTA) — a heart imaging test that helps determine if plaque buildup has narrowed a patient’s coronary arteries.

The centre treats more than 80,000 cardiac patients each year.

Under an initial agreement, Huntsville Heart Center and Artyra will compare patient cardiac CT scans read by experts to those read by artificial intelligence (AI)-based technology.

Artrya shakes hands on first US clinical partnership with renowned heart hospital

Artrya Salix has been accepted as an NHS supplier for artificial intelligence software.

Our SaaS product for the detection and diagnosis of coronary artery disease was announced as one of a select shortlist for the United Kingdom’s National Health Service Shared Business Services Limited Framework last month.

The Framework Agreement means 1250 hospitals and other health organisations across the UK will be able to purchase Artrya Salix with ease, simplifying procurement processes and pricing agreement. Artrya anticipates receiving the UKCA regulatory approval mid-2022, allowing commercial activity to commence.

This is another great milestone as we progress our mission to save lives from coronary artery disease through advanced detection technologies.

Artrya Salix is the only dedicated product focusing on coronary artery disease patient risk identification including the detection of vulnerable plaque and workflow optimisation.

We are listed in the ARTG in Australia, and have applied for Food and Drug Administration (FDA) regulatory clearance in the US and Health Canada clearance for the Canadian market.

Find out more about how Artrya Salix is bringing to market a 

Artrya Salix has been accepted as an NHS supplier for artificial intelligence software.


Aussie AI diagnostics med-tech Artrya takes heart from new UK NHS status

A local player is Artrya, a start-up targeting heart disease. 

Led by co-founders John Barrington and John Konstantopoulos, managing director and executive director, respectively, the Artrya team is using AI to more accurately identify patients at risk of coronary artery disease. 

“John worked closely with IBM’s Watson health team globally, and my interest in technology has led me to believe that AI is fundamental to the future,” 

Mr Barrington said. “It’s that interest which has inspired us to find out how we can harness AI rapidly and develop technology for the good of humanity.” 

The pair met four years ago and spent 18 months researching the role ‘vulnerable plaque’ plays in heart disease. 

Vulnerable plaque causes unstable blockages in blood vessel walls. Artrya launched in May 2019 and, perhaps surprisingly in this competitive space, its fundraising efforts were oversubscribed each time they went to the market. 

In May, the company raised $15 million led by Bell Potter. Artrya’s team now includes Girish Dwivedi, a world-leading expert in vulnerable plaque and practising cardiologist, who was brought to WA by the Harry Perkins Institute of Medical Research. 

“Girish then introduced us to Abdul Ihdayhid, a cardiologist and leading researcher in coronary blood flow,” Mr Barrington told Business News. 

It was a perfect storm, he said, of brilliant minds brought together to keep the flywheel spinning. Artrya co-founder Mr Konstantopoulos said the statistics around heart disease were alarming.

“Sixty-four per cent of women and 50 per cent of men who die of heart attacks have no prior warning, and two thirds of those who die don’t exhibit significant narrowing of the arteries but do have build-up of vulnerable plaque,” he said. 

Artrya has created a diagnostic solution that can identify within minutes if vulnerable plaque is present, as well as assessing blood flow, without the need to insert a wire up through the thigh and into the heart. 

“The clinician can refer them to have a CT coronary angiogram, and from there, our AI ‘drives’ through each of the arteries, assessing faults and other problems,” Mr Konstantopoulos said. 

The work could contribute to saving lives in clinics globally. “Heart disease claims 18 million lives a year; it’s the biggest cause of death in the world,” Mr Barrington said. 

“That’s where we can contribute to society and create a high growth company in Perth, generating returns for our investors. Wherever the internet is available, you can diagnose using our technology.” 

Artrya is currently undergoing trials with Wembley based Envision Medical Imaging and is planning national pilots followed by a commercial rollout. 

“We’ve successfully concluded our third capital raising,” Mr Barrington said. 

“We intended to raise $10 million, and we had more than $30 million in applications; we closed at $15 million. 

“This technology is exponential; it’s accelerating at an increasing pace over time. 

“It’s hard to predict where it’ll go over the next 10 years, but the capability of AI will dramatically develop beyond our imagination.”

Several exciting AI innovations are emerging from WA, and the world is watching.

Researchers Eye Health Benefit From AI

https://www.afr.com/technology/perth-company-raises-15m-for-ai-software-to-transform-cardiac-imaging-20210520-p57tnu

A Perth-based medical technology company that tackles the world’s biggest killer, heart disease, with artificial intelligence-powered imaging software has raised $15 million from institutional investors.

Artrya, launched in May 2019 by former management consultant John Barrington and former IBM global industry leader John Konstantopoulos, says its software is a more accurate and less invasive way to detect signs of heart disease than other methods. It has raised the capital to support its commercialisation of the technology.

The $15 million has come from investors,including Alex Waislitz’s Thorney, Watermark Funds Management, Washington H. Soul Pattinson, Regal Funds Management and SG Hiscock.

Artrya’s technology, called Salix, analyses 

 in minutes and produces a 3D image and report that provides a more accurate detection of coronary artery disease, including the presence of vulnerable plaque, which is challenging to identify with existing technology.

It can also show the movement of blood through the heart, called a fractional flow reserve. However, it still needs to receive approval from the Therapeutic Goods Administration for this function. Traditionally fractional flow reserve is measured via coronary angiogram – a minimally invasive procedure in which contrast dye and x-ray imaging is used to detect blockages in the arteries.

Artrya raises $15m for AI software to transform cardiac imaging

AI-powered imaging software has raised $15 million from institutional investors

Cardiac software provider Artrya is partnering with Huntsville Heart Center to test the efficacy of its AI-based technology in caring for cardiac patients.

Huntsville Heart Center to Test AI-Based Cardiac Technology

In this article, the Financial Review shares some information on our accomplishments, IPO and overall progress towards our goals. 

Cardiac imaging start-up Artrya raising $40m through an IPO

Artrya's Managing Director, John Barrington AM, was interviewed on Ticker Insight News to discuss our continued US expansion, the appointment of Co-CEOs for Artrya US, and the opportunity the United States market represents. John touches on our Western Australian roots, and the growing sector of MedTech innovation in Perth.

Ticker Insight News interviews John Barrington AM, on Artrya's US expansion and the growing MedTech sector in Western Australia.

AI-Driven HealthTech

Fresh from its ASX debut, AYA’s mission is simple: it’s out to more accurately and less invasively detect signs of heart disease with the power of artificial intelligence (AI).

Artrya gets to the heart of AI with ASX listing, $40 million IPO

Artrya's MD, John Barrington AM discusses the company’s first US partnership deal with Proactive’s Andrew Scott, detailing a clinical agreement with Huntsville Heart Center – a well-known cardiology centre – to assess the efficacy of the Artrya Salix Coronary Anatomy solution in detecting heart disease.

Artrya's MD, John Barrington AM discusses the company’s first US partnership deal with Proactive’s Andrew Scott, detailing a clinical agreement with Huntsville Heart Center.

Artrya inks agreement with Huntsville Heart Center as first US-based clinical partnership

With the latest capital raise once again oversubscribed, Artrya has worked diligently to accommodate as many applications as possible. The priority and initial public offering closed on October 29th raising $40million to support further business acceleration. The team are now working through the finer details to list on the ASX and expect to finalise in the next few weeks.

Further interested investors are encouraged to follow our progress and buy on market in due course. 

With the latest capital raise once again oversubscribed, Artrya has worked diligently to accommodate as many applications as possible.

How to invest in the Artrya IPO

John Barrington discusses the company’s move into the US market, and its use of artificial intelligence in diagnosing early indicators for heart disease in clinical settings.

Artrya brings AI-driven heart disease diagnostic tool to the US market with subsidiary spin off

Artrya's CMO, Professor Girish Dwivedi, writes how CT scanning of the heart has changed how coronary artery disease can be assessed.
Alternative description (if too long): Artrya's CMO, Prof. Girish Dwivedi, writes how CT scanning of the heart has changed how CAD can be assessed.

Artrya's CMO, Professor Girish Dwivedi, writes how CT scanning of the heart has changed how coronary artery disease can be assessed.

Australia needs a modern approach to assessing heart attack risk

Dr. Jacque Sokolov to Chair Artrya Clinical Advisory Board

Dr. Sokolov is a recognised leader in the US healthcare care sector having advised companies across the US and government entities, including the White House under four presidents, Senate and House committees

Dr. Sokolov will lead Artrya’s US clinical research program, regulatory approval, the establishment of healthcare reimbursement arrangements and laying the foundation for revenue contracts in the US

As an incentive, Dr Sokolov will be issued 3.9 million 5-year Options: 1.3million exercisable at $1.35, 1.3 million exercisable at $3.00 and 1.3 million exercisable at $5.00 per Option

 – Artificial intelligence medical technology company Artrya Limited (ASX: AYA, 

) is today announcing the appointment of renowned healthcare executive Dr. Jacque J. Sokolov as Chair of Artrya’s Clinical Advisory Board to assist with market access and clinical utilisation to grow revenue and shareholder value.

Artrya Managing Director and Co-founder, John Barrington AM, commented: “I am delighted to welcome Jacque Sokolov to the Company. Dr Sokolov brings a remarkable breadth of experience across all aspects of the US healthcare industry, in particular healthcare delivery and biotechnology, and is formally trained as an academic cardiologist.”

“Dr Sokolov will support our US clinical research by helping to form key partnerships with research institutes and study sites. He will also assist in our establishment of reimbursement arrangements through introductions to Healthcare payers such as insurance companies and lay the foundations for revenue contracts in the US healthcare sector”, said Mr Barrington.

Dr. Sokolov said “I am thrilled to join Artrya’s world-class team as we begin commercial expansion into the US with this advanced method of cardiac diagnosis.

“I look forward to building networks with key opinion leaders and subject matter experts as we introduce technology designed to more effectively help cardiologists diagnose and treat heart disease,” Dr Sokolov said.

Dr. Sokolov is chairman and chief executive officer of SSB Solutions, Inc., a US diversified healthcare management, development, and financial services company. His company has worked with more than 100 healthcare organizations across multiple US healthcare sectors to develop physician-driven, value-focused solutions in rapidly evolving markets.

Dr. Sokolov currently serves on multiple public, private and not-for-profit healthcare boards. He is especially focused on cutting edge technology involving advanced digital health companies such as GlobalMed and next-generation “genetic based” companies such as Calviri (mRNA diagnostics/products) and Lucid Diagnostics (DNA diagnostics-LUCD: NASDAQ).

Dr. Sokolov received his BA and MD Degrees from the University of Southern California and completed his internal medicine residency at the Mayo Graduate School of Medicine followed by his fellowship in cardiovascular diseases/nuclear cardiology from the University of Texas-Southwestern Medical School.

Artrya’s core solution is the novel technology Salix – a fast and effective AI-based solution that analyses cardiac CT scans to detect a unique combination of heart attack biomarkers. Salix supports clinicians in the diagnosis of coronary artery disease by highlighting disease location and severity on a 3D heart image and producing a comprehensive patient report within 15 minutes, assisting first-time-right treatment.

Market clearance applications for Salix Coronary Anatomy (SCA) are currently under review with health authority regulators in the USA (FDA), Canada (Health Canada), Europe (CE Mark) and the UK (UKCA).



This announcement was approved by the Company’s Managing Director, John Barrington AM, on behalf of the Artrya Board.

For further information please contact:

Investor Enquiries:
John Barrington
Artrya Limited
investors@artrya.com

Media Enquiries:
John Fergusson
Daymark
john.fergusson@daymark.com.au

Artrya Limited (ASX: AYA, Artrya or the Company) is today announcing the appointment of renowned healthcare executive Dr. Jacque J. Sokolov as Chair of Artrya’s Clinical Advisory Board.

Artrya appoints renowned executive Dr Jacque Sokolov as United States advisor

Artrya has been accepted onto the UK National Health Service Shared Business Services (NHS SBS) Framework as a supplier of artificial intelligence software and platforms.

Artrya Chief Medical Officer, Professor Girish Dwivedi, who previously spent time in the UK as a National Institute of Health Research Clinical Lecturer in Cardiovascular Medicine at the University of Birmingham discusses how the recognition as a UK preferred supplier is an important milestone for Salix.

“This is an international endorsement of Salix’s clinical credentials, and testament to the quality of the Salix product and our world-class technical team,” Professor Dwivedi said.


Artrya has been accepted onto the UK National Health Service Shared Business Services (NHS SBS) Framework as a supplier of artificial intelligence software and platforms.﻿

UK preferred supplier status for Australian AI company Artrya

John Barrington AM talks to Proactive Investor about the company’s appointment of Dr. Jacque Sokolov as Chair of Artrya’s Clinical Advisory Board. Mr Barrington says Dr. Sokolov will help lead the group’s US clinical research program for its coronary heart disease diagnosis technology. He adds that Dr. Sokolov is a prominent cardiologist who has worked with more than 100 healthcare organisations in the US.

John Barrington AM talks to Proactive Investor about the company’s appointment of Dr. Jacque Sokolov as Chair of Artrya’s Clinical Advisory Board. 

Artrya talks through its plan to bring its AI coronary heart disease diagnostic to the US

Local medtech Artya has listed on the stock exchange, having earlier raised $40 million through an IPO to help commercialise its cardiac imaging software.

Artrya rises on ASX debut

Crawley-based Artrya has been shortlisted as a preferred supplier of AI Software by the UK Health Service for its heart disease detection program. 

Medtech Artrya breaks into UK market

A leading Perth cardiologist believes the recent spate of high-profile heart attacks should sound a warning about the increased health risks associated with modern living.

Heart attacks in high-profile cricketers prompts warning from Perth cardiologist Professor Girish Dwivedi

In this Stockhead article, Tim Boreham dives into Artrya as a company and shares his thoughts in the current $100M market valuation. He also speaks on Artya's recent accomplishments as well as goals in the months and years to come. 

Boreham’s Crucible: Breaking down ASX aspirant Artrya’s AI heart disease warning system

https://podcasts.apple.com/au/podcast/spotlight-artrya-marches-to-its-own-beat/id1453637211?i=1000515122278

In this week’s episode, we chat to WA-based digital health company Artrya’s Co-Founders - CEO John Konstantopoulos and Chairman John Barrington AM - about developing their heart disease detection application, which uses radiology and Artificial Intelligence to more accurately identify patients at risk of Coronary Artery Disease without invasive surgery in a matter of minutes. 

The ‘software as a service’ solution will also guide cardiologists to deliver more effective treatment. 

Artrya received funding through MTPConnect’s BioMedTech Horizons program. 

After starting up two years ago, Artrya have already received TGA registration and are poised to launch pilot programs in WA medical practices. 

In this episode they reveal more about their mission to save lives and take their solution around the globe.

MTPConnect talks to Artrya. In this week’s episode, we chat with WA-based digital health company Artrya’s Co-Founders.

Artrya Marches To Its Own Beat - MTPConnect Podcast 

After closing our initial public offering (IPO), the Motley Fool shares details on Artrya's AI technology and how it could disrupt the detection of coronary artery disease for years to come. 

Move over Appen: A new artificial intelligence stock to list on the ASX

Artrya to receive $1 million in Federal Government funding. 

Research paper selected as finalist in major global conference. 

Successful collaboration with University of Western Australia (UWA) and Harry Perkins Institute of Medical Research. 

Artrya, a developer of AI technology that more accurately identifies patients at risk of heart disease, has achieved key funding and research milestones as it drives towards product commercialisation. 

The Federal Government this month awarded Artrya $1 million in funding through round three of the BioMedTech Horizons Program. Delivered by MTPConnect, the program supports innovative, collaborative health technologies that address unmet clinical needs. 

Artrya was one of 10 companies chosen from 169 applicants nationally in this funding round. The grant will be used partly to employ PhD students from UWA in computer science and medicine, to further develop the technology. 

“Artrya is changing how heart disease is diagnosed,” says co-founder and Executive Chairman John Barrington, AM. “Our vision is to harness the power of AI to treat more people who are susceptible to heart disease, and save lives.” 

Barrington adds: “The funding will quicken Artrya’s push towards commercialisation as it refines its product, clinically validates the solution, attracts further equity and builds strong foundations for larger trials and regulatory approval. “ 

The commercialisation grant follows a successful private capital raising earlier this year. Artrya raised $2.8 million from sophisticated investors after originally seeking $2 million. 

“Artrya is well placed to get its technology to market,” says Barrington. “Later this year, we will target regulatory approval, launch our beta product and promote a $10-$15 million Series A capital raising to support international expansion. Our technology is a world-first, Australian-made discovery through university and industry collaboration.” 

Barrington says Artrya’s success reinforces WA’s potential to foster a thriving Medtech ecosystem. “WA is producing outstanding MedTech start-ups, has world-class universities and research institutions, and entrepreneurship is in the State’s DNA. The foundations are there to build industries of tomorrow in WA and futureproof our economy.” 

Launched in 2018, Artrya is collaborating with UWA and the Harry Perkins Institute of Medical Research. Artrya Chief Medical Officer, Professor Girish Dwivedi, is the inaugural Wesfarmers Chair in Cardiology at UWA (Harry Perkins Institute of Medical Research). 

Dwivedi is an internationally renowned researcher in non-invasive cardiac imaging techniques. Dwivedi is an expert in vulnerable plaques that are prone to rupture and cause heart attacks. 

Using AI algorithms, Artrya is developing a cost-effective, point-of-care solution to identify high-risk plaques and the burden of restricted blood flows (ischemia). 

Artrya’s first study on its results has attracted international attention. The prominent Society of Cardiovascular Computed Tomography (SCCT) has accepted Artrya’s research paper, nominating it as a finalist for the top paper of SCCT’s annual conference this year. 

Artrya’s work is timely. Coronary Artery Disease (CAD) is the world’s leading cause of death. An estimated 26 million people worldwide have CT Coronary Angiography (CTCA) scans annually to record pictures of their heart. Artrya’s technology overcomes several challenges in existing CAD tests. Most have limited accuracy and provide no information about coronary plaque characteristics. Other tests cannot assess ischemia or are costly and time-consuming, restricting their use. 

Artrya co-founder and CEO John Konstantopoulos says the technology will benefit patients, clinicians and the community. “We believe our novel, unique solution can more accurately identify and predict patients who are vulnerable to heart disease. This information can be used to prevent acute coronary events and improve patient quality of life.” 

Konstantopoulos says Artrya technology provides an automated diagnosis in less than 15 minutes, enabling clinicians to see more patients. “There is a shortage of cardiologists and radiologists worldwide. Left undiagnosed, patients remain at risk, incorrect treatment regimes are administered and cost burdens on health systems escalate. With ageing populations and the demand for medical services rising globally, significant delays in reporting can leave patients in critical situations.” 

The consistent, high accuracy of the technology is another benefit. “Artrya reduces imaging costs and the risk of false diagnosis,” says Konstantopoulos. “By combining latest advances in AI, image processing, data analysis and CAD research, everything is cheaper, faster and more accurate. That is good for the healthcare system and communities.” 

Konstantopoulos believes AI is the future of heart-disease diagnosis. “Early feedback from clinicians on Artrya’s technology is encouraging. Clinicians see the power of AI to improve the efficiency and accuracy of heart scans. Most of all, they see the potential to treat more patients and reduce the incidence of heart attacks.”

Emerging WA medtech star awarded Federal Government grant for commercialisation of artificial-intelligence (AI) technology that fights heart disease.

Artrya Secures Funding For World-First Healthcare Technology

While early screening for underlying disease has been promoted by health systems for some time, in-depth cardiac health screening remains largely untouched except for some localised private care segments. 

Clinicians are calling for a focus on an affordable and accessible option for treating patients with early coronary artery disease, not symptomatic late disease. With the advancement of AI-enabled technology providing meaningful patient insights at speed, this technology has the potential to decrease the cost of reviewing and reporting coronary computed tomography angiograms, which may provide a cost-effective model for detailed earlier detection.

Dr Brendan Adler opinion piece on the need for an affordable and accessible option for treating patients with early coronary artery disease.

Heart disease: the case for early detection

Artrya Ltd today announced the appointment of US Cardiologist Nicolas Chronos, MD, to its Clinical Advisory Board. He will join Board Chair Dr. Jacque J. Sokolov in promoting key medical research partnerships and oversee US based research in support of Artrya’s US market entry.

Artrya Ltd announced the appointment of US Cardiologist Nicolas Chronos, MD, to its Clinical Advisory Board. He will promote key medical research partnerships and oversee US based research in support of Artrya’s US market entry.

Artrya Names US Cardiologist Dr. Nicolas Chronos to Advisory Board

Artrya (AYA), an artificial intelligence medical technology business, has started trading on the ASX after the successful completion of its initial public offering (IPO).

Cardiac imaging software company Artrya (ASX:AYA) up on public debut

Original post: https://www.mtpconnect.org.au/Article?Action=View&Article_id=118

The medtech start-up has developed a way to more accurately analyse CT coronary angiograms using deep learning algorithms and artificial intelligence. Their AI solution reviews the hundreds of scanned images, creates a 3D model and then looks for disease. This increases the accuracy of identifying patients at risk of Coronary Artery Disease (CAD) and guides clinicians in delivering more effective treatment.

Currently, specialists use an invasive coronary angiogram to detect arterial abnormalities but the Artrya solution is non-invasive.

In November 2020, Artrya received TGA regulatory approval to launch the product in the Australian market.

Artrya is an emerging early-stage WA medtech start-up that was recently awarded $1 million funding in Round 3 of MTPConnect’s 

, an initiative of the Medical Research Future Fund.

Founded in 2018, Artrya is a collaboration with The University of Western Australia and the Harry Perkins Institute of Medical Research, based in Perth.

, Artyra CEO John Konstantopoulos explained their solution can rapidly report heart disease from CT scans, saving precious time rather than waiting for the results of angiograms.

"Our novel, non-invasive solution can more accurately identify and predict patients who are vulnerable to heart disease and reduce the incidence of heart attacks," Mr Konstantopoulos explains.

"This information can be used to prevent acute coronary events and improve patient quality of life.

"By combining latest advances in AI, image processing, data analysis and CAD research, everything is faster, more accurate and less costly.

"That is good for the healthcare system and communities."

According to the Victor Chang Cardiac Research Institute, cardiovascular diseases like CAD are the leading cause of death worldwide, with one Australian dying every 12 minutes[1]. The disease is also a significant economic burden on global healthcare systems and communities. It is estimated that Australia is spending $12 billion in healthcare annually[2].

Artrya's Chief Medical Officer, Professor Girish Dwivedi, is the inaugural Wesfarmers Chair in Cardiology at the Harry Perkins Institute of Medical Research and consultant cardiologist at Fiona Stanley Hospital.

Professor Dwivedi is an internationally renowned researcher in non-invasive cardiac imaging techniques and High-Risk Plaques that cause heart attacks.

"Current clinical practice is focused on the narrowing of the heart's arteries, but most heart attacks occur in patients with less than 50-per-cent obstruction," says Prof Dwivedi.

"The real cause of death comes from non-obstructive High-Risk Plaque, which is very time consuming for humans to record. Our AI system can accurately detect this type of plaque, direct the physician to its location and generate a written report.

"Artrya's system would allow physicians to treat patients before a heart attack occurs, saving lives."

Artrya Executive Chairman John Barrington AM says Western Australia is positioned well in developing new healthcare innovations.

"WA is producing outstanding medtech start-ups, has world-class universities and research institutions, and entrepreneurship is in the State's DNA," Mr Barrington adds.

"The foundations are there to build industries of tomorrow in WA and future-proof our economy.

"Our leadership team has focused on creating and enhancing networks across the health, medical, research and investor communities in the markets of WA, SA, VIC, NSW and Queensland."

The company has had early success attracting private capital, raising around $4 million to date.

Their research has been recognised internationally with Artrya's paper on machine learning being selected as runner-up at the prestigious 

Artificial Intelligence (AI) is changing the face of healthcare, and Artrya wants to redefine how the risk of heart disease is detected in patients.

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