DeepLook Medical Announces First Close of Series A and Releases

Metropolitan New York Hospital Achieves 12% Improvement in Performance with DL Precise™

[New Haven, Connecticut, September 18, 2024] — DeepLook Medical, focused on visual enhancement technology to advance medical imaging, is proud to announce the successful first close of its

Series A funding round. This round is led by Xcellerant Ventures and supported by OKG Capital.

In conjunction with this milestone, the company has released new data highlighting the

significant impact of its flagship product, DL Precise™ in improving recall rates at a major

metropolitan New York hospital.

During 2024, using external retrospective data, the hospital observed a 12% improvement in performance, enabling better adherence to the American College of Radiology (ACR) recall rate guidelines. This enhancement is attributed to the use of DL Precise™, which also correlated with the detection of a previously undiagnosed cancer, highlighting the product's efficacy in enhancing diagnostic accuracy and patient outcomes. DL Precise™ is an intervention at the point-of-care in the normal breast imaging workflow that may nudge clinical decisions toward improved quality outcomes, which is different from many of the standard Quality Improvement applications.

“DL Precise™ marks a significant advancement in medical imaging technology, positioning DeepLook at the forefront of innovation.We believe this technology has the potential to redefine how healthcare providers approach breast cancer detection, particularly in cases where clarity and precision are most needed. We're proud to support DeepLook in delivering solutions that empower physicians to make more accurate diagnoses and improve patient care", said Michael Shufeldt, Principal at Xcellerant Ventures.

The data from this study comes at a critical time for mammography centers nationwide. Approximately 37% of these centers are currently out of compliance with ACR guidelines, leading to a 2% reduction in reimbursement from the Centers for Medicare & Medicaid Services (CMS) and private insurers. This non-compliance could translate to annual profit losses ranging from $50,000 to $200,000 per institution, depending on patient volume.

"DeepLook Medical is proud to share the results of this study and the positive impact of DL Precise™ on performance and compliance. Our technology not only helps improve recall rates but also contributes to better cancer detection, ultimately benefiting both healthcare providers and patients. This is even more significant in dense breast patients where visualization is difficult to quantify", said Marissa Fayer, CEO of DeepLook Medical.

The successful first close of the Series A funding round positions DeepLook Medical for

continued growth and innovation. The company plans to leverage this capital to continue to commercialize the technology with existing and new commercial partners, expand the technology into other modalities, and expand its reach globally.

About DeepLook Medical:

DeepLook Medical focuses on visual enhancement technology to advance medical imaging. DL Precise™ is the first in a series of innovative products using the company’s unique shape-recognition software to delineate the details of tumor morphology – a key to better diagnosis and treatment of malignancy across the field of oncology. The company is leveraging other complementary AI advances to further the reach and impact of its patented technology. To learn more, please visit: https://www.deeplookmedical.com/