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SGInnovate announces investment in medical blockchain startup MediLOT Technologies

SGInnovate announces investment in medical blockchain startup MediLOT Technologies

SGInnovate announced
that it will be investing in the medical blockchain start-up, MediLOT
Technologies. SGInnovate is now a
Strategic Investor in the company, MediLOT, a blockchain healthcare platform that uses
Artificial Intelligence and other technologies to bring the latest and most
innovative advancements to patients and healthcare providers.

SGInnovate has invested in MediLOT
as part of its Deep Tech Nexus strategy which focuses on adding tangible value to the Singapore deep tech start-up
ecosystem in two key areas — development of Human Capital and deployment of
Investment Capital. With the support of partners and co-investors, SGInnovate backs deeply technical founders
through equity-based investments, access to talent, and support in building
customer traction. Their efforts are prioritised
around transformational technologies such as Artificial Intelligence,
Blockchain, and MedTech, which represent
impactful and scalable answers to global challenges. SGInnovate is a private limited
company wholly owned by the Singapore Government.

MediLOT is a decentralised healthcare platform built on blockchain, Artificial Intelligence and database management system technologies for
patients, healthcare providers, researchers and commercial companies. It has
committed itself to the principles of patient centricity, privacy, and
equitable data sharing. Integrating these principles, MediLOT leverages
technologies with over 5 years
of development that have been featured
in numerous peer-reviewed scientific publications. Utilising
the well tested blockchain-based GEMINI software stack, MediLOT allows patients
and doctors to fully unlock the value of their health data for better diagnoses
and more effective treatments.

MediLOT employs five
main technologies:

i.   GEMINI, a GEneralisable
Medical Information aNalysis, and Integration Platform. The objective is
to design and implement an integrative healthcare analytics system to address
various kinds of healthcare problems. The systems integrated in GEMINI cover data acquisition, data
cleaning, data integration, data processing, data analytics and data visualisation steps of the big data analytics
pipeline;

ii.   ForkBase, a system that supports high-level properties
demanded in many modern applications, including data versioning, collaboration,
and security. With its versatile
programming interface, rich semantics and high performance, ForkBase enables rapid developments of many classes of
scalable, distributed applications.

iii.   BLOCKBENCH, the first evaluation framework for analysing private blockchains. It serves as a
fair means of comparison for different platforms and enables a deeper understanding of different system design
choices. BLOCKBENCH measures overall and component-wise performance in terms of
throughput, latency, scalability, and
fault-tolerance.

iv.   Apache SINGA, an Apache Incubating project for developing
an open source machine learning library. It provides a flexible architecture
for scalable distributed training, is extensible to run over a wide range of
hardware, and has a focus on healthcare applications.

v.    Hyperledger++, an enhanced blockchain infrastructure of
Hyperledger. It uses trusted hardware to improve the trust relation between nodes
and its throughput by a wide margin.

MediLOT claims
that by using a dual blockchain solution with a unique layered architecture, its
platform is able to incorporate Artificial Intelligence and Data Analytics
capabilities on top of its control and data layers. This allows for machine
learning APIs and complex applications to be built on top of MediLOT platform.

SGInnovate backs deep
tech start-ups through equity-based investments, access to talent, and support
in building customer traction. MediLOT
is honoured to be the first Blockchain
and Healthcare Analytics company in Singapore that the company has invested in.
It is focused on transformational technologies such as Artificial
Intelligence (AI), blockchain and robotics that have horizontal applications to
many industries, as well as MedTech which impacts the healthcare industry.

“MediLOT has assembled
a great team with a vision to build an interoperable decentralised platform that can be used by all healthcare providers
to extract greater value from healthcare records, affording patients better
diagnoses and more effective treatments,” said Tong Hsien-Hui, Head of Venture
Investing, SGInnovate. “Their vision is in line with SGInnovate’s mission to
help develop high potential companies with products that will have global impact. We are proud to back MediLOT in
their journey to transform the healthcare industry around the world,” he added.