Cyrcadia Asia Secures $3.8M Pre-A Funding Led by iFlytek for Wearable Breast Cancer Detection Device
VCBeat (WeChat ID: vcbeat) has learned thatCyrcadia Asia, a startup specializing in intelligent breast cancer detection devices, announced that it has secured $3.8 million (approximately RMB 25 million) in Pre-A series financing, invested by iFlytek, a well-known listed artificial intelligence technology company., followed by the entry of several other Asian investment funds and private investors.
The funding from this round will primarily be used to advance Cyrcadia Asia’s healthcare initiatives, supporting the completion of product development by the end of 2018 and its launch in Hong Kong and other ASEAN markets.
Cyrcadia Asia was established in Hong Kong in 2017, dedicated to developing smart wearable bra inserts for accurate early detection of breast cancer.The company has signed a strategic licensing and collaboration agreement with Cyrcadia Inc. of the United States to manufacture, commercialize, and launch Cyrcadia’s breast cancer detection products in Asian markets. The product is scheduled to begin production at Nypro’s Shanghai facility in the summer of 2018.
Cyrcadia’s wearable device is a revolutionary sensor patch worn under a woman’s bra for two hours each month, enabling women to monitor their breast health via a smartphone application. The technology leverages cloud-based artificial intelligence to track scientifically validated circadian metabolic changes in breast tissue associated with cancer development, offering particular advantages in Asia. This is especially relevant given the low screening participation rates among Asian women, the rising incidence of breast cancer, and the high prevalence of dense breast tissue in this population, which reduces the accuracy of traditional imaging techniques.
After more than a decade of research, Cyrcadia Asia launched its product in the Asian market. The company has also conducted extensive trials in the United States and has obtained FDA 510(k) clearance. The technology has received widespread acclaim, including two Cannes Lions International Festival of Creativity awards and Clio Awards for innovation and women’s empowerment. Furthermore, the technology was featured in the documentary “Detected,” produced by Ironbound Films and released on Amazon Prime.
Investor iFlytek, founded in 1999, is the largest listed artificial intelligence technology company in the Asia-Pacific region., listed on the Shenzhen Stock Exchange in 2008. The company has been committed to research in speech intelligence, exploring the most natural forms of human-computer interaction, and holds a leading advantage in fields such as intelligent speech and artificial intelligence technologies, including speech synthesis, speech recognition, speech assessment, and natural language processing.
iFlytek’s medical division was established in 2016 and is led by Dr. Tao Xiaodong, a senior technical expert formerly with Philips and GE Healthcare. As General Manager of iFlytek’s Smart Healthcare Division, Dr. Tao brings extensive expertise in the specialized fields of medical imaging and computer-aided diagnosis.With the completion of this financing,iFlytek will further advance its healthcare initiatives, and Dr. Tao Xiaodong has also joined the board of directors of Cyrcadia Asia.
iFlytek has also made rapid progress in the field of “healthcare + artificial intelligence” over the past two years. In November 2017, the company’s “Xiao Yi” AI robot successfully passed the National Medical Licensing Examination (China’s physician qualification exam), scoring 456 points, which was 96 points above the passing threshold. Furthermore, iFlytek has currently deployed its AI services in more than 50 hospitals across Anhui Province, providing general practitioners with support in diagnosis, treatment, and interpretation of medical images, including breast imaging.
Dr. Tao Xiaodong commented on this investment, saying“We are delighted to play a leading role in the technological development and market launch of Cyrcadia. iFlytek has already demonstrated the power of artificial intelligence in the medical field. Cyrcadia’s technology, which detects disease through metabolic changes, can overcome and address many of the limitations associated with current imaging techniques and manual interpretation. We are also excited about Cyrcadia’s consumer wearable device technology, which offers women the convenience and possibility of real-time health monitoring. As the user base grows, it has the potential to become the world’s largest database on breast health and breast cancer incidence. We hope to make significant contributions to the research, prevention, and treatment of this disease in the near future.”
Mr. Rob Royea, CEO and Chairman of Cyrcadia Asia, stated“We are delighted that iFlytek has become both an investor and a strategic partner in the fields of artificial intelligence and healthcare. Cyrcadia Asia’s technology will enable women to monitor their breast health more comfortably and conveniently than with existing screening methods, maximizing life-saving potential by detecting cancer at earlier stages, when it is easier to treat and often does not require chemotherapy. Our partnership with iFlytek opens up numerous avenues for deploying data-cloud-based AI applications, which can significantly enhance breast cancer diagnosis by clinicians.”
In addition to the investment, iFLYTEK and Cyrcadia Asia will jointly explore how to integrate Cyrcadia’s technology into iFLYTEK’s medical products in China. Cyrcadia Asia will launch its Series A fundraising in the third quarter of 2018 to fund further expansion beyond its current markets.