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Rho commercialization-focused R&D Projects to receive up to $2 million of support from INOVAIT Focus Fund

INOVAIT Support for Rho R&D
January 18, 2023
Rho commercialization-focused R&D Projects to receive up to $2 million of support from INOVAIT Focus Fund

We are excited to announce the launch of a 3-year project with our collaborators GE HealthCare Canada, Canadian Association of Radiologists, Osteoporosis Canada, True North Imaging, and the Centre for Technology Adoption for Aging in the North that will focus on product iteration and clinical evidence generation to support widespread clinical adoption and reimbursement for RhoTM. 16 Bit will work closely with early customers to pilot RhoTM in real-world clinical environments to obtain their feedback, and iterate on product features. This project will enable key stakeholders in Canada to evaluate the impact of RhoTM on existing clinical practice and population health.

Our project was one of 14 to be selected in the inaugural Focus Fund call for applications. Along with our collaborators, we expect to invest $6 million over three years, with INOVAIT contributing $2 million through their Focus Fund to support our project. The Focus Fund investment will support our three-year commercialization-focused R&D projects associated with RhoTM, which have the potential to greatly improve patient outcomes and reduce the overall cost of healthcare in Canada by opportunistically screening for low bone mineral density.

Funding for this project was provided in part by INOVAIT through the Government of Canada's Strategic Innovation Fund.

Ce projet a été financé en partie par INOVAIT dans le cadre du Fonds stratégique pour l’innovation du gouvernement du Canada.
INOVAIT is a pan-Canadian network funded by the Government of Canada and hosted at the Sunnybrook Research Institute with the objective of building a truly integrated image- guided therapy ecosystem, fueling continuous innovation that revolutionizes healthcare globally. Through connecting, educating, and investing in the industry’s brightest minds and most promising ventures, INOVAIT will support and encourage collaborative development and the integration of artificial intelligence (AI) into medical technologies.Financé par le gouvernement du Canada et situé à l’Institut de recherche Sunnybrook, INOVAIT est un réseau pancanadien dont l’objectif est de créer un écosystème de thérapie guidée par imagerie véritablement intégré qui favorise l’innovation continue et révolutionne les soins de santé à l’échelle mondiale. Grâce à l’établissement de liens, à la formation et à la réalisation d’investissements au profit des plus brillants cerveaux et des initiatives les plus prometteuses du secteur, INOVAIT soutiendra et stimulera le développement collaboratif ainsi que l’intégration de l’intelligence artificielle (IA) dans les technologies médicales.