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SkinVision secures investment

SkinVision, Europe’s leading skin cancer detection app, has closed an investment round with global healthcare company LEO Pharma.

As part of the agreement LEO Pharma will collaboratively work with SkinVision’s leadership team on global solutions that can expand the reach of SkinVision’s technology solutions.

Kim Kjoeller, senior vice president of global development at LEO Pharma, said: “The Internet is dramatically changing how consumers manage their health and that creates new opportunities for us to deliver innovative, value-added services.

“We are very pleased to collaborate with SkinVision, because we will gain unique learnings about the convergence of digital technologies with medical applications. The coming years will see an ever changing and increasingly digital health care environment and LEO Pharma wants to be at the forefront of that trend. This is a huge opportunity for the European technology and pharmaceutical industries to become world leaders.”

There is a significant opportunity for SkinVision to address an unmet demand, because one of the major challenges with skin cancer is educating consumers to detect dangerous moles.

It is estimated that dermatologists are only treating 5% of people with the risk profile for skin cancers and as one of the five cancers seeing rapid growth SkinVision’s application can make healthcare information more accessible to consumers.

The application focuses on lesions, taking pictures of moles using a standard smartphone camera and assessing images against its UK/IE 2000/10293 Aug 2015 proprietary algorithm to ensure over 80% accuracy in the identification process.

A key element of LEO Pharma’s investment will be enabling SkinVision to develop uses of the technology in other skin disease areas, because its database of over 1M+ images has already begun to store examples of a wide range of skin conditions.

“We are delighted to reach this agreement with LEO Pharma, because it will enable us to expand into new areas and it validates our approach,” said Dick Uyttewaal, CEO of SkinVision B.V. “LEO Pharma has a great reputation and range of products in the treatment of skin conditions, so
there is clear synergy between the two companies. We want to be the leading provider of digital solutions for skin conditions and together with LEO Pharma we believe we can provide consumers with even more personalized, informative healthcare services.”

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