DXS International (DXSP) , a software company providing clinical decision support solutions, announced it has secured £409,000 of grant funding jointly with Health Innovation East from Innovate UK - the UK's national innovation agency - for further R&D of its AI medicines optimisation prescribing solution, ExpertCare.
The Innovate UK, DXS, and Health Innovation East project has been funded for 18 months, and will consist of two primary elements: First, a cost-to-benefit analysis in the form of a real-world evaluation led by Health Innovation East to assess ExpertCare's utility within a clinical environment. Second, the development and prototyping of 2 additional cardiovascular-related long-term condition AI algorithms for diabetes and hypercholesterolemia.
The Innovate UK grant comes on the back of a 2022 National Institute of Health and Care Research (NIHR) grant award for an initial first stage ExpertCare evaluation, the results of which are soon to be published.
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This is a substantial award from Innovate UK that will enable DXS to accelerate its development of ExpertCare, a product promising to revolutionise medicine optimisation. The £409k channeled into intensive R&D, prototyping and testing should fast-track ExpertCare's route to market.
The grant is a key milestone for DXS as it reaffirms industry recognition of ExpertCare as well as the need for digital health solutions to address real problems confronted by the NHS. The grant will bring further exposure to DXS and ExpertCare as Innovate UK is known for driving innovation and growth in the UK's most promising sectors.
DXS's partner on the project, Health Innovation East, is one of 15 UK Academic Health Sciences Networks (AHSNs) that connect NHS and academic organisations, local authorities, charities, and industry. AHSNs as uniquely positioned to identify and spread health innovation at scale.
Today's announcement brings DXSP one step closer to reaching its £4.7m revenue target for FY24, from £3.4m in FY23.
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