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FACIT's Prospects Oncology Fund invests in 16 Bit

FACIT named 16 Bit one of four recipients of a $450,000 round from its Prospects oncology investment competition, supporting 16 Bit's work on a machine learning model to triage screening mammograms.

FACIT (Fight Against Cancer Innovation Trust) did not publish the amount for each recipient. The release described 16 Bit’s model as aiming to identify a share of screening mammograms as benign and needing no further review, so radiologists could focus on the rest. The mammogram model was a research project, not a commercial product.