Tevogen.AI Expands Collaboration With Databricks and Microsoft to Build the Beta Version of Its PredicTcell™ Model With a Focus on Oncology
Beta version to incorporate oncology targets, enhancing the accuracy and diversity of the PredicTcell model and potentially accelerating cancer immunotherapy development.
Tevogen.AI to develop enhanced analytics and visualization tools, for the PredicTcell model to support its internal R&D teams.
WARREN, N.J., Aug. 05, 2025 (GLOBE NEWSWIRE) — Tevogen ('Tevogen Bio Holdings Inc.' or 'Company') (Nasdaq: TVGN) today announced that its artificial intelligence initiative, Tevogen.AI, is expanding its collaboration with Microsoft (Nasdaq: MSFT) and Databricks, to build the beta version of its foundational PredicTcell model.
Powered by the Databricks Data Intelligence Platform and backed by their innovative engineering teams, Tevogen.AI has begun curating a dataset focused on oncology. The dataset, aggregated with the initial virology dataset. aims to improve upon the accuracy of the alpha version of PredicTcell model.
This next phase of development builds on Tevogen.AI's recently published international patent application (WO 2025/129197), which outlines novel machine learning systems for predicting immunologically active peptides, a critical step in developing targeted therapies for cancers and infectious diseases.
'We have been extremely fortunate to work with such great organizations like Microsoft and Databricks to build the alpha version of our foundational AI model,' said Mittul Mehta, Chief Information Officer and Head of Tevogen.AI. 'Oncology represents one of the most impactful areas for AI in drug discovery, given the complexity of the disease and the limited availability of high-quality datasets.'
Forward Looking Statements
This press release contains certain forward-looking statements, including without limitation statements relating to: Tevogen's plans for its research and manufacturing capabilities; expectations regarding future growth; expectations regarding the healthcare and biopharmaceutical industries; and Tevogen's development of, the potential benefits of, and patient access to its product candidates for the treatment of infectious diseases and cancer. Forward-looking statements can sometimes be identified by words such as 'may,' 'could,' 'would,' 'expect,' 'anticipate,' 'possible,' 'potential,' 'goal,' 'opportunity,' 'project,' 'believe,' 'future,' and similar words and expressions or their opposites. These statements are based on management's expectations, assumptions, estimates, projections and beliefs as of the date of this press release and are subject to a number of factors that involve known and unknown risks, delays, uncertainties and other factors not under the company's control that may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations expressed or implied by these forward-looking statements.
Factors that could cause actual results, performance, or achievements to differ from those expressed or implied by forward-looking statements include, but are not limited to: that Tevogen will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; changes in the markets in which Tevogen competes, including with respect to its competitive landscape, technology evolution, or regulatory changes; changes in domestic and global general economic conditions; the risk that Tevogen may not be able to execute its growth strategies or may experience difficulties in managing its growth and expanding operations; the risk that Tevogen may not be able to develop and maintain effective internal controls; the failure to achieve Tevogen's commercialization and development plans and identify and realize additional opportunities, which may be affected by, among other things, competition, the ability of Tevogen to grow and manage growth economically and hire and retain key employees; the risk that Tevogen may fail to keep pace with rapid technological developments to provide new and innovative products and services or make substantial investments in unsuccessful new products and services; risks related to the ability to develop, license or acquire new therapeutics; the risk of regulatory lawsuits or proceedings relating to Tevogen's business; uncertainties inherent in the execution, cost, and completion of preclinical studies and clinical trials; risks related to regulatory review, approval and commercial development; risks associated with intellectual property protection; Tevogen's limited operating history; and those factors discussed or incorporated by reference in Tevogen's Annual Report on Form 10-K.
You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Tevogen undertakes no obligation to update any forward-looking statements, except as required by applicable law.
Contacts
Tevogen Bio CommunicationsT: 1 877 TEVOGEN, Ext 701
[email protected]
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Summary Results for Second Quarter 2025 (USD in millions, except per share data)GAAPNon-GAAP Q2 2025 Q2 2024 % Change Q2 2025 Q2 2024 % Change Revenue $141.6 $136.8 3.5 % $141.6 $136.8 3.5 % Gross Profit $61.9 $60.1 3.0 % $64.8 $62.5 3.8 % Gross Margin 43.7 % 43.9 % -20 bps 45.8 % 45.7 % 10 bps Operating Income $16.8 $21.9 -23.2 % $23.1 $24.8 -7.1 % Operating Margin 11.9 % 16.0 % -410 bps 16.3 % 18.2 % -190 bps Net Income (*) $14.2 $18.6 -23.6 % $19.3 $21.0 -8.2 % Diluted EPS $0.25 $0.33 -24.2 % $0.34 $0.37 -8.1 % (*) Attributable to Sapiens' shareholders Roni Al-Dor, President and CEO of Sapiens, stated, "In the second quarter of 2025, we continued to execute on our strategic priorities, securing new deals and strengthening customer relationships across our Life, P&C, and Reinsurance segments. Our insurance platform supports insurers in advancing digital transformation, improving operational efficiency, and adopting AI-driven innovation." Mr. Al-Dor continued, "During the quarter, we completed the acquisitions of Advantage Go and Candella, acquisitions that strengthen our P&C and Life growth. We reiterate our priority to continue platform innovation, increase cross-selling, accelerate cloud adoption, and expand the Life & Annuities business globally, all of which will serve as catalysts to accelerated growth in 2026." Quarterly Results Conference Call Following our announcement that Sapiens has entered into a definitive agreement to be acquired by Advent, Sapiens will forgo its Q2 2025 Earnings Call scheduled for today. Non-GAAP Financial Measures This press release contains the following non-GAAP financial measures: non-GAAP revenue, ARR, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income attributed to Sapiens shareholders, non-GAAP basic and diluted earnings per share, Adjusted EBITDA and Adjusted Free Cash-Flow. Sapiens believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Sapiens' financial condition and results of operations. The Company's management uses these non-GAAP measures to compare the Company's performance to that of prior periods for trend analyses, for purposes of determining executive and senior management incentive compensation and for budgeting and planning purposes. These measures are used in financial reports prepared for management and in quarterly financial reports presented to the Company's board of directors. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends, and in comparing the Company's financial measures with other software companies, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude: amortization of capitalized software development and other intangible assets, capitalization of software development, stock-based compensation, compensation related to acquisition and acquisition-related costs, and tax adjustments related to non-GAAP adjustments. Management of the Company does not consider these non-GAAP measures in isolation, or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in the Company's financial statements. In addition, they are subject to inherent limitations, as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. To compensate for these limitations, management presents non-GAAP financial measures in connection with GAAP results. Sapiens urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures, which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate the Company's business. Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures used in this press release are included with the financial tables of this release. The Company defines Annual Recurring Revenue ("ARR") as the annualized value of our revenue from customer subscriptions, term licenses, maintenance, application maintenance, and cloud solutions, which may not be the same as the timing and amount of revenue recognized. The ARR run rate is equal to the product of (i) the sum of these revenues in our most recently completed fiscal quarter, multiplied by (ii) four. The Company defines Adjusted EBITDA as net profit, adjusted to stock-based compensation expense, depreciation and amortization, capitalization of software development costs, compensation expenses related to acquisition and acquisition-related costs, financial expense (income), provision for income taxes and other income (expenses). These amounts are often excluded by other companies as well, in order to help investors understand the operational performance of their business. The Company uses Adjusted EBITDA as a measurement of its operating performance, because it assists in comparing the operating performance on a consistent basis by removing the impact of certain non-cash and non-operating items. Adjusted EBITDA reflects an additional way of viewing aspects of the operations that the Company believes, when viewed with the GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting its business. The Company uses Adjusted Free Cash-Flow as a measurement of its operating performance, and reconciles cash-flow from operating activities to Adjusted Free Cash-Flow, while reducing the amounts for capitalization of software development costs and capital expenditures. The Company adds back cash payments made for former acquisitions in respect of future performance targets and retention criteria as determined upon acquisition date of the respective acquired company, which were included in the cash-flow from operating activities. We believe that Adjusted Free Cash-Flow is useful in evaluating our business, because Adjusted Free Cash-Flow reflects the cash surplus available to fund the expansion of our business. About Sapiens Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global leader in intelligent insurance SaaS-based software solutions. With Sapiens' robust platform, customer-driven partnerships, and rich ecosystem, insurers are empowered to future-proof their organizations with operational excellence in a rapidly changing marketplace. Our SaaS-based Solutions help insurers harness the power of AI and advanced automation to support core solutions for property and casualty, workers' compensation, and life insurance, including reinsurance, financial & compliance, data & analytics, digital, and decision management. Sapiens boasts a longtime global presence, serving over 600 customers in more than 30 countries with its innovative offerings. Recognized by industry experts and selected for the Microsoft Top 100 Partner program, Sapiens is committed to partnering with our customers for their entire transformation journey and is continuously innovating to ensure their success. For more information visit sapiens or follow us on LinkedIn Investor and Media ContactYaffa Cohen-IfrahChief Marketing Officer and Head of Investor Relations, SapiensMobile: +1 917-533-4782Email: Investor ContactKimberly RogersManaging Director, Hayden IRPhone: +1 541-904-5075Email: kim@ Forward Looking Statements Certain matters discussed in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, and are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words "anticipate," "believe," "estimate," "expect," "may," "will," "plan" and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers' systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the recent novel coronavirus pandemic, which adversely affected our results of operations, or fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company. While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading "Risk Factors" in our most recent Annual Report on Form 20-F, which we filled with the SEC on March 31, 2022, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations. SAPIENS INTERNATIONAL CORPORATION N.V. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF INCOME U.S. dollars in thousands (except per share amounts) Three months ended Six months ended June 30, June 30, 2025 202420252024 (unaudited) (unaudited) (unaudited) (unaudited) Revenue 141,602 136,800277,707271,049 Cost of revenue 79,711 76,696155,156153,385 Gross profit 61,891 60,104122,551117,664 Operating expenses: Research and development, net 18,833 16,80935,10933,330 Selling, marketing, general and administrative 26,261 21,41249,44941,929 Total operating expenses 45,094 38,22184,55875,259 Operating income16,797 21,88337,99342,405 Financial and other (income) expenses, net (1,270) (1,109)(2,600)(2,201) Taxes on income 3,681 4,3758,1738,488 Net income14,386 18,61732,42036,118 Attributable to non-controlling interest 154 -252141 Net income attributable to Sapiens' shareholders 14,232 18,61732,16835,977 Basic earnings per share 0.25 0.330.580.65 Diluted earnings per share 0.25 0.330.570.64 Weighted average number of shares outstanding used to compute basic earnings per share (in thousands)55,897 55,79755,89255,771 Weighted average number of shares outstanding used to compute diluted earnings per share (in thousands)56,070 56,16356,04256,072 SAPIENS INTERNATIONAL CORPORATION N.V. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP RESULTS U.S. dollars in thousands (except per share amounts)Three months endedSix months ended June 30,June 30, 2025202420252024 (unaudited)(unaudited)(unaudited)(unaudited)GAAP revenue141,602136,800277,707271,049 Valuation adjustment on acquired deferred revenue---- Non-GAAP revenue141,602136,800277,707271,049GAAP gross profit61,89160,104122,551117,664 Amortization of capitalized software1,6751,5693,1863,114 Amortization of other intangible assets1,2728082,0962,587 Non-GAAP gross profit64,83862,481127,833123,365GAAP operating income16,79721,88337,99342,405 Gross profit adjustments2,9472,3775,2825,701 Capitalization of software development(1,788)(1,823)(3,730)(3,540) Amortization of other intangible assets2,0941,2233,6542,456 Stock-based compensation8458111,6921,583 Acquisition-related costs *)2,1823652,743494 Non-GAAP operating income23,07724,83647,63449,099 GAAP net income attributable to Sapiens' shareholders 14,23218,617 32,16835,977 Operating income adjustments6,2802,9539,6416,694 Taxes on income(1,207)(529)(1,825)(1,209) Non-GAAP net income attributable to Sapiens' shareholders19,30521,04139,98441,462 (*) Acquisition-related costs pertain to charges on behalf of M&A agreements related to future performance targets and retention criteria, as well as third-party services, such as tax, accounting and legal rendered until the acquisition date. Adjusted EBITDA Calculation U.S. dollars in thousandsThree months endedSix months ended June 30, June 30, 2025202420252024GAAP operating profit 16,79721,88337,99342,405Non-GAAP adjustments: Amortization of capitalized software1,6751,5693,1863,114 Amortization of other intangible assets3,3662,0315,7505,043 Capitalization of software development(1,788)(1,823)(3,730)(3,540) Stock-based compensation8458111,6921,583 Compensation related to acquisition and acquisition-related costs2,1823652,743494Non-GAAP operating profit23,07724,83647,63449,099Depreciation1,0641,0952,0362,192Adjusted EBITDA24,14125,93149,67051,291 Summary of NON-GAAP Financial Information U.S. dollars in thousands (except per share amounts) Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024 Revenues 141,602136,105134,305137,025136,800 Gross profit 64,83862,99562,69262,80962,481 Operating income 23,07724,55724,46825,10124,836 Adjusted EBITDA 24,14125,52925,35926,38925,931 Net income to Sapiens' shareholders 19,30520,67920,71021,09121,041 Diluted earnings per share 0.340.370.370.370.37 Annual Recurring Revenue ("ARR") U.S. dollars in thousands Three months ended June 30, 2025 2024 Annual Recurring Revenue 199,646168,593 Non-GAAP Revenues by Geographic Breakdown U.S. dollars in thousandsQ2 2025Q1 2025Q4 2024Q3 2024Q2 2024 North America 59,78256,87156,75355,75557,918 Europe 70,09567,48065,62469,28166,072 Rest of the World 11,72511,75411,92811,98912,810 Total 141,602136,105134,305137,025136,800 Non-GAAP Revenue breakdown U.S. dollars in thousands Three months endedSix months endedJune 30,June 30,2025202420252024 Software products and re-occurring post-production services (*) 109,85998,044217,916192,285 Pre-production implementation services (**) 31,74338,75659,79178,764 Total Revenues 141,602136,800277,707271,049 Three months endedSix months endedJune 30,June 30,2025202420252024 Software products and re-occurring post-production services (*) 58,43952,237117,931102,577 Pre-production implementation services (**) 6,39910,2449,90220,788 Total Gross profit 64,83862,481127,833123,365 Three months endedSix months endedJune 30,June 30,2025202420252024 Software products and re-occurring post-production services (*) 53.2 %53.3 %54.1 %53.3 % Pre-production implementation services (**) 20.2 %26.4 %16.6 %26.4 % Gross Margin 45.8 %45.7 %46.0 %45.5 % (*) Software products and re-occurring post-production services include mainly subscription, term license, maintenance, application maintenance, cloud solutions and post-production services. This revenue stream is a mix of recurring and re-occurring in nature. (**) Pre-production implementation services include mainly implementation services before go-live, which are one-time in nature. Adjusted Free Cash-FlowU.S. dollars in thousands Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024 Cash-flow from operating activities 1,87325,35342,10913,0838,545 Increase in capitalized software development costs (1,788)(1,942)(1,759)(1,834)(1,823) Capital expenditures (1,003)(366)(419)(1,125)(666) Free cash-flow (918)23,04539,93110,1246,056 Cash payments attributed to acquisition-related costs(*) (**) 626-1,238124134 Adjusted free cash-flow (292)23,04541,16910,2486,190 (*) Included in cash-flow from operating activities (**) Acquisition-related payments pertain to charges on behalf of M&A agreements related to future performance targets and retention criteria, as well as completed or prospective third-party services, such as tax, accounting and legal rendered. SAPIENS INTERNATIONAL CORPORATION N.V. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEET U.S. dollars in thousandsJune 30,December 31,20252024 (unaudited) (unaudited) ASSETS CURRENT ASSETSCash and cash equivalents64,541163,690Short-term bank deposit10,00052,500Trade receivables, net and unbilled receivables134,94999,603Other receivables and prepaid expenses30,33419,350Total current assets239,824335,143 LONG-TERM ASSETSProperty and equipment, net11,19510,656Severance pay fund3,0653,208Goodwill and intangible assets, net439,166302,472Operating lease right-of-use assets22,76620,746Other long-term assets23,62819,486Total long-term assets499,820356,568 TOTAL ASSETS739,644691,711 LIABILITIES AND EQUITY CURRENT LIABILITIESTrade payables11,6158,414Current maturities of Series B Debentures19,80419,796Accrued expenses and other liabilities91,28677,390Current maturities of operating lease liabilities7,2846,440Deferred revenue44,69737,543Total current liabilities174,686149,583 LONG-TERM LIABILITIESSeries B Debentures, net of current maturities-19,792Deferred tax liabilities13,7106,899Other long-term liabilities11,26010,331Long-term operating lease liabilities18,28917,719Accrued severance pay9,5807,758Total long-term liabilities52,83962,499 REDEEMABLE NON-CONTROLLING INTEREST13,809- EQUITY 498,310479,629 TOTAL LIABILITIES AND EQUITY739,644691,711 SAPIENS INTERNATIONAL CORPORATION N.V. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWU.S. dollars in thousands For the six months ended June 30,20252024(unaudited)(unaudited) Cash flows from operating activities:Net income 32,42036,118 Reconciliation of net income to net cash provided by operating activities:Depreciation of property and equipment 2,0362,192 Amortization of intangible assets and capitalized software 8,9368,157 Accretion of discount on Series B Debentures 1222 Capital (gain) loss from sale of property and equipment 1(9) Stock-based compensation related to options issued to employees 1,6921,583 Net changes in operating assets and liabilities, net of amount acquired:Increase in trade receivables, net and unbilled receivables (13,047)(12,723) Decrease in deferred tax liabilities, net (1,874)(1,428) Decrease in other operating assets 1,0113,445 Increase in trade payables 1,5044,446 Decrease in other operating liabilities (8,290)(8,354) Increase (decrease) in deferred revenues 1,966(6,587) Increase in accrued severance pay, net 859171 Net cash provided by operating activities 27,22627,033 Cash flows from investing activities:Purchase of property and equipment (1,399)(1,146) Proceeds from deposits 42,39012,136 Proceeds from sale of property and equipment 2714 Payments for business acquisitions, net of cash acquired (106,189)(375) Capitalized software development costs (3,730)(3,540) Net cash provided by (used in) investing activities (68,901)7,089 Cash flows from financing activities:Proceeds from employee stock options exercised -98 Distribution of dividend (37,037)(15,635) Repayment of Series B Debenture (19,796)(19,796) Acquisition deferred payment (455)- Acquisition of non-controlling interest -(4,131) Net cash used in financing activities (57,288)(39,464) Effect of exchange rate changes on cash and cash equivalents (186)1,272 Decrease in cash and cash equivalents (99,149)(4,070) Cash and cash equivalents at the beginning of period 163,690126,716 Cash and cash equivalents at the end of period 64,541122,646 Debentures Covenants As of June 30, 2025, Sapiens was in compliance with all of its financial covenants under the indenture for the Series B Debentures, based on having achieved the following in its consolidated financial results: Covenant 1 Target shareholders' equity (excluding non-controlling interest): above $120 million. 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HeartFlow IPO success reflects market embrace of AI in medtech industry
HeartFlow's $364m initial public offering (IPO) signals market validation for the use of artificial intelligence (AI) in a company's product portfolio, an expert says. Roundly exceeding its $300m expectations for the IPO, the Bain Capital-backed AI-based coronary artery disease (CAD) platform developer debuted with a a $2.2bn valuation on the Nasdaq on 8 August. HeartFlow's current products are HeartFlow Plaque analysis, which aims to provide clinicians with the ability to more accurately assess patients with arterial plaque buildup (atherosclerosis), and HeartFlow FFRCT analyses CT angiogram (CCTA). Typically used alongside Plaque Analysis, FFRCT creates detailed 3D models of the arteries to assess the impact of blockages on blood flow. Plaque Analysis received US Food and Drug Administration (FDA) clearance in 2022 and is claimed to be the only AI-based plaque quantification tool currently cleared by the agency. FFRCT received FDA clearance in 2014. To reach the IPO milestone, HeartFlow maintained a focus on testing its product offerings alongside physicians, generating real world evidence, taking on feedback and refining as needed, and ensuring they were truly ready to scale. HeartFlow also navigated the structural barriers of getting its product to market; again, real-world evidence – with over 3,000 peer-reviewed papers demonstrating its products' efficacy – spurred the company's commercialisation efforts. Medtech industry veteran, Brent Ness, CEO of Aclarion, who served as HeartFlow's chief commercial officer from 2014 to 2015, told Medical Device Network that HeartFlow's work on the underlying economic factors around its product, including working on contractual relationships with imaging centres to get them on board with the product, pre-reimbursement, have proven a key part of its success. 'Between FDA clearance and reimbursement, lots of technologies can't make it through that journey because there's no reimbursement, and therefore there's no adoption, and they run out of cash,' Ness explained. 'Part of the structural barrier stage of development involves getting the provider economics right and that market access work that needs to take place between the early payors and the key opinion leaders (KOL) advocating for the product. But payors aren't going to turn it on just because a KOL says so. 'This is why the shining jewel in HeartFlow's history has been their absolute commitment to leading with evidence.' AI's recognition in healthcare and its future According to Ness, the success of HeartFlow's IPO reflects the market validation of the overall rationale for using AI in imaging and the deployment of software-as-a-service (SaaS) based products as the 'raw material' underpinning the technology's ability to provide clinically actionable information and improve patient outcomes. Ness said this model is 'here to stay', having been 'completely validated by the market, which has recognised of its value, which obviously translates into revenue, and speaks to the long term success and viability of HeartFlow and the significant potential for other AI-based SaaS imaging developers.' To learn from HeartFlow's success, Ness views a critical role for SaaS-based AI software providers as being to try and shorten the timeframe between regulatory approval and reimbursement. 'The faster that new and novel technologies using AI can move through that Death Valley, the better it's going to be for patients, and the more money we're going to save as a collective society,' Ness said. 'The 'muscle' of these AI tools is proving to be valuable. It's got to be safe, and it's got to make sense economically, but we've got to figure out how to shorten that part of the journey.' "HeartFlow IPO success reflects market embrace of AI in medtech industry" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
