Whiterabbit is one of those wonderful companies in our portfolio that hits on three criteria we like to see when we’re investing.
Whiterabbit.ai’s mission is to significantly reduce late-stage cancers by using artificial intelligence to detect them in their earliest stages, starting with breast cancer. Using some of the world’s largest radiology data sets, the company’s team of experts have developed a suite of AI powered tools that enable dramatic change across the full testing life cycle. Whiterabbit is one of those wonderful companies in our portfolio that hits on three criteria we like to see when we’re investing.
Artificial intelligence is a key theme for Celesta investment strategy due to the explosion of data. It’s estimated that 80% of the world’s data is unstructured, and businesses are only able to gain visibility into a small portion of that data. When deployed correctly, AI can be the key to unlocking data value and developing a serious competitive edge for companies.
Secondly, we have a predilection for investing in digital biology companies that are using technology to influence patient outcomes. The market has shown intense interest and focus in this sector, and we are excited about our investments in Whiterabbit and Atonarp, to name a few. There will be more.
Lastly, and probably most importantly, Whiterabbit can help save lives, and relieve unnecessary stress and anxiety for patients. Breast cancer kills more than 37,000 women in the United States each year, and every year more women are diagnosed with it than any other kind of cancer. When caught early, the five-year survival rate of breast cancer is more than 99%; but, today, nearly 40% of cases aren’t caught until it is too late.
Today Whiterabbit announced the appointment of Alexander Sardiña, MD as its new CEO and the recent FDA clearance of its first medical software product, WRDensity. I am thrilled Dr. Sardiña has joined the company – to have someone with his pedigree at the helm will propel Whiterabbit to its next exciting phase.