Hartford Business Journal

HARTFORDBUSINESS.COM | NOVEMBER 11, 2024 13 STATES WITH HIGHEST RATES OF BREAST CANCER (2017-21) Breast cancer cases RANK STATE per 100,000 residents 1 North Carolina 143.2 2 CONNECTICUT 143.1 3 District of Columbia 141.2 4 Minnesota 140.4 5 Hawaii 140.1 6 New Hampshire 139.6 7 Delaware 139.2 8 Rhode Island 139.1 9 Washington 137.1 10 Wisconsin 137 U.S. AVERAGE 129.8 Source: National Cancer Institute it's not 'one-size-fits-all' for everyone, and especially for women with dense breasts." Fayer said dense breast tissue has nothing to do with body composition, meaning it doesn't matter whether a woman is thin, physically fit or obese. "It's just genetics," she said. "It's also an equity issue, because Black women, Asian women and Jewish women just generally have dense breasts." Testing dense breasts for signs of cancer is like searching for an airplane in a cloud, she said. "You can't see it, so how is a radiologist supposed to be able to visualize something that they can't see?" She continued, "That's very much what we focus on, because when you look at the details on a computer basis, as opposed to just with your eyes, you're able to show a lot more." Sales ramping up DeepLook is selling its DL Precise software to hospital systems and medical imaging service providers worldwide, Fayer said, noting that it already is used by White Plains Hospital in New York's Westchester County. Other deals are in the works, she said. "We'd love this to be in 500 places," Fayer said. "It's not an exclusive license that is only for certain hospitals." With sales ramping up this year, DeepLook Medical is a "pre-revenue company," Fayer said, adding the startup expects to generate revenue in the current quarter. That doesn't mean it lacks funding. In three rounds of fundraising, including a Series A financing round that closed in September, the company has raised approximately $6.9 million overall. Investors include Connecticut Innovations, the state's quasi-public venture investment arm, and Tidal River Investments, a Stamford-based angel investment firm that supports early-stage companies with a focus on diversity and equity. Fayer said there are plenty of incentives for health systems to use the software, because eliminating duplicative and unneeded tests produces significant savings for C O M M I T T E D T O Y O U R S U C C E S S We are pleased to announce that David J. Dixon has joined the team at Bradley, Foster & Sargent. Dave brings a wealth of insight, experience, and leadership to our team. Dave joins us from Wilmington Trust where he was Executive Vice President of Wealth Management. He also ran the wealth business at Webster Bank and held senior positions at Harbor Capital Management, Fleet Inv estment Advisors, and Connecticut National Bank. Dave is active in the community serving as the immediate past Chairman of First Tee- Connecticut, former Chairman of the Arthritis Foundation of Connecticut, former Board member of the St. Francis Foundation along with other philanthropic organizations in the greater Hartford community. Please join us in welcoming Dave in the upcoming months. Hartford, CT | Litchfield, CT | Delray Beach, FL | Wellesley, MA Portland, ME | Chicago, IL | Stonington, CT David J. Dixon, CFA joins Bradley, Foster & Sargent David J. Dixon, CFA (860) 241-4628 ddixon@bfsinvest.com ® ® patients, providers and payers, and results in a faster diagnosis. "Even if we could reduce addi- tional imaging by just 1% — and we have initial studies that show a 12% reduction — we can save payers $302 million a year," she said. While that would make any insur- ance company CFO happy, it's even better news for patients, Fayer said. According to her, 80% of breast biopsies discover benign tissue, which means most of those proce- dures are not needed. "There's a ridiculous amount of imaging that happens, and so many steps that a patient has to pay for," she said. "So, even if they have insur- ance, most of them are still paying a copay, and that adds up." In fact, the average copay is $1,400, and for those without insurance, a biopsy averages $17,000, Fayer said. "There are new studies that have just come out that found if anything's over $2,000, most people are just not going to do it," she said. 42M mammograms Fayer cites one other benefit of the DL Precise software — its ability to take some pressure off radiologists. According to the FDA, 42.4 million mammograms were performed in the U.S. this year through Oct. 1. That's 4.2 million per month. Radiologists, Fayer says, are exhausted. "They need help," she said. "I mean, they want help and this is another tool that helps them." She adds that what DL Precise doesn't do is make medical decisions. "They're still physicians," she said of radiologists, "and one thing that we'll never do is take the decisions away from them. They are the doctors. They are specially trained for this." As for the future, DeepLook is working to expand the types of cancers its imaging software can be used for, including lung, thyroid and liver cancers. The company is also working on a new addition to its existing software that is expected to debut in early 2025, Fayer said.

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