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Highlights
- Volpara has entered a research and development collaboration with Microsoft.
- Together, the companies will advance development of a software that uses mammograms to identify cardiovascular issues.
- On the ASX, shares of Volpara have tumbled more than 60% on year-to-date basis.
Digital health solutions developer, Volpara Health Technologies Limited (ASX:VHT) shared today that it has joined hands with Microsoft to speed up the research and development of the products that detect breast arterial calcifications (BACs).
Volpara explained that BAC is associated with heart disease or a high risk of cardiovascular disease.
Microsoft is a technology company that offers computer software globally. It provides cloud computing services, computer and gaming hardware, video games and other online services.
Share price movement
The shares of Volpara dipped by 3.191% to trade at AU$0.455 apiece at 12:12 PM AEST. The shares were performing in line with the ASX 200 healthcare index (XHJ), which was down 0.977% at the same time.
In the last five trading sessions, the shares tumbled 23%, and in one month, shares dropped 36%. On a year-to-date basis, the share price sank by 57%.
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Details of the collaboration between Volpara and Microsoft
Image source: © Wolterk | Megapixl.com
Microsoft and Volpara, together, will be working towards bettering women’s health through science and innovation, VHT release stated. The product to be developed under the collaboration, will use Artificial Intelligence (AI) and mammograms and capitalise upon the recent BAC patent granted to Volpara. A mammogram provides an X-ray of the breast and is used to detect early signs of breast cancer.
Microsoft’s machine learning and AI specialists would support in improving the BACs model along with data processing. The engineers of Microsoft would work with the Volpara team on the technical development and operationalisation of the product.
The BACs product would help radiologists identify the need to take steps to prevent heart disease. It would work as a cardiac decision-support tool and mark the entry of Volpara into a new area of care.
As per the ASX-announcement, the company would become part of the US$146.4 billion cardiovascular disease market.
The management highlighted the fact that Volpara has access to more than 35% of the US breast screening market. Also, the company has the installation base to ensure speedy adoption of the product. With this, the company is on the path to creating a new revenue stream.
Who will lead the project?
Co-founder Ralph Highnam who recently switched his role from CEO to Chief Science and Innovation Officer, would spearhead the BAC initiative.
On the development, Highnam commented:
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