Spectral AI Announces Podium Presentation at BBA / ISBI Joint Conference Assessing Burn Wound Severity Using Multispectral Imaging and Artificial Intelligence

Rhea-AI Summary

Spectral AI (Nasdaq: MDAI) announced a podium presentation at the BBA/ISBI Joint Conference by Dr. Jeffrey Carter, showcasing data from an ongoing study on their DeepView™ System. This AI-driven technology uses multispectral imaging to assess burn wound severity with accuracy exceeding experienced physicians. The presentation highlights the potential of DeepView™ to address challenges in burn care, including resources and the need for accurate diagnoses.

The company's 2024 U.S. Burn Pivotal Study is ongoing, aiming to validate the AI algorithm before seeking FDA approval in 2025. Spectral AI believes their system can significantly impact the speed, treatment, and outcomes for acute burn wound patients, especially in mass casualty events where current healthcare systems face constraints.

Positive

• DeepView™ System shows accuracy in assessing burn depth exceeding that of experienced physicians
• Ongoing 2024 U.S. Burn Pivotal Study to validate AI algorithm for FDA approval in 2025
• Potential to address significant challenges in burn care, including resources and inaccurate diagnoses

Negative

• None.

DALLAS, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that Dr. Jeffrey Carter will present data from an ongoing prospective multicenter study analyzing the use of Spectral AI’s DeepView™ System, which utilizes non-invasive multispectral imaging technology and proprietary AI, to detect non-healing areas of a wound following thermal (burn) injury.

Dr. Carter is Medical Director of University Medical Center New Orleans Burn Center & Professor of Surgery at LSU Health New Orleans School of Medicine, and Spectral AI’s Chief Medical Consultant.

Dr. Carter and his team note that burn care resources in the U.S. are limited with only approximately 130 burn centers, a tight supply of available burn center beds on any given day, and a significant decline in burn surgeon training. These constraints would be magnified in a mass casualty event and likely result in inaccurate diagnoses and a diminished standard of care.

Spectral AI’s DeepView™ System has a demonstrated ability to accurately assess burn depth which exceeds that of experienced physicians. This supports the Company’s belief that a high performing AI-driven model using multi-spectral imaging supplemented with clinician-based burn assessment is poised to positively impact the speed, treatment and potential outcomes for patients with acute burn wounds.

“The structural constraints in the ability of our healthcare system to treat burn victims combined with the complex nature of these wounds has resulted in significant challenges for clinicians, patients, and institutions,” said Dr. Carter. “We believe that Spectral AI’s DeepView™ System for burn indication can address these care gaps by providing an immediate and informed burn wound assessment with accuracy that far exceeds that of even the most seasoned burn care physician. The predictive ability of this technology can provide significant advantages across the healthcare continuum on both a day-to-day basis and during a mass casualty situation.”

Presentation Information

Presenter: Jeffrey E. Carter, MD, FACS
Title:  Burn Severity Assessment Using Multispectral Imaging and AI: Analysis of a Multicenter Study
Day: Wednesday, August 21^st
Time: 15:30-17:00 BST
Location: International Conference Centre (ICC) Hall 11B, Birmingham, UK

The Company’s 2024 U.S. Burn Pivotal Study is ongoing and is designed to validate the AI-driven algorithm used by Spectral AI’s DeepView™ System for burn indication. It will be the final clinical trial before the Company seeks FDA approval of its DeepView™ System for burn indication in 2025.

About Spectral AI 

Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns and diabetic foot ulcers. The Company is working to revolutionize the management of wound care by “Seeing the Unknown^®” with its DeepView System.  The DeepView System is a predictive device that offers clinicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal to change the current standard of care, the DeepView System is expected to provide faster and more accurate treatment insight towards value care by improving patient outcomes and reducing healthcare costs. For more information about the DeepView System, visit www.spectral-ai.com. 

Forward Looking Statements 
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s strategy, plans, objectives, initiatives and financial outlook. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. 

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, readers are cautioned not to place undue reliance on any forward-looking statements. 

Investors should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s filings with the SEC, including the Registration Statement and the other documents filed by the Company. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. 

Investors: 
The Equity Group 
Devin Sullivan 
Managing Director 
dsullivan@equityny.com 

Conor Rodriguez 
Analyst 
crodriguez@equityny.com

FAQ

What is Spectral AI's DeepView™ System and how does it assess burn wounds?

Spectral AI's DeepView™ System uses non-invasive multispectral imaging technology and proprietary AI to detect non-healing areas of a wound following thermal (burn) injury. It has demonstrated the ability to accurately assess burn depth, exceeding the accuracy of experienced physicians.

When is Spectral AI (MDAI) expecting to seek FDA approval for its DeepView™ System for burn indication?

Spectral AI is expecting to seek FDA approval for its DeepView™ System for burn indication in 2025, following the completion of their 2024 U.S. Burn Pivotal Study.

Who is presenting Spectral AI's (MDAI) burn wound assessment data at the BBA/ISBI Joint Conference?

Dr. Jeffrey Carter, Medical Director of University Medical Center New Orleans Burn Center & Professor of Surgery at LSU Health New Orleans School of Medicine, and Spectral AI's Chief Medical Consultant, is presenting the data at the BBA/ISBI Joint Conference on August 21st, 2024.

What are the current challenges in burn care that Spectral AI's (MDAI) DeepView™ System aims to address?

Spectral AI's DeepView™ System aims to address challenges such as burn care resources (only about 130 burn centers in the U.S.), tight supply of available burn center beds, significant decline in burn surgeon training, and the potential for inaccurate diagnoses, especially in mass casualty events.