30,000 users in Europe, rising trend, available in all app stores Artificial intelligence as the basis for further health apps from the company The smartphone app developed by the Austrian/Graz start-up medaia GmbH (=MEDical Artificial Intelligence Applications) easily and quickly assesses the cancer risk of skin changes with the help of artificial intelligence (AI). In addition to the reliability of over 95% proven in clinical studies and the large global market potential, one aspect in particular has contributed significantly to the participation of Valnon Holding by means of six-figure investments: skin cancer is now the most common form of cancer and early detection saves lives!

World-leading AI with high growth potential

“With SkinScreener, medaia GmbH has the world’s leading AI for the early detection of skin cancer. Initial interest quickly gave rise to the desire to support the young and innovative team, whose specializations range from neuroscience to medicine and biomedical engineering. Not only do we see the great international growth potential, but we also want to help raise awareness of skin cancer screening and thus the chances of curing millions of people.”,

says Stefan Liechtenstein, GF of Valnon Holding.

The EU-certified medical product is currently available for download in Austria and Germany as well as in Great Britain and Ireland in the Apple and Google stores. The great potential can be seen in the current 30,000 users alone. Interesting detail, already now the English market with 41% market share has overtaken the German speaking market. The next expansion steps are already planned with France, Italy and Spain – Australia and the USA are new target markets.

Future technology secures the business location

Provincial Councillor MMag.a Barbara Eibinger-Miedl is also enthusiastic:

“The SkinScreener app demonstrates the opportunities offered by the development of AI and the importance of this future technology for our business location. With a research and development rate of 5.15 percent, Styria is the most innovative province in Austria and one of the top regions in Europe. We thus offer start-ups such as medaia an optimal environment to score with investors from Austria and abroad with innovations.”

Apps to improve individual health

Dermatologist and founder Dr. Michael Tripolt emphasizes:

“I am pleased to welcome Valnon Holding, a strategic and financially strong partner. Together we want to continue our dynamic expansion course in and outside Europe. Our mission is to develop AI for medical applications that have the potential to improve individual health independent of the local medical infrastructure. With SkinScreener, we have already succeeded in this.”

SkinScreener can detect skin lesions that show signs of black or white skin cancer and provides users with an easy-to-understand risk assessment. In addition to the high accuracy of 95% in detecting malignant and benign skin lesions, the smartphone app detects about 98% of all malignant skin lesions. Furthermore, the app is registered as a class I medical device and meets the high standards of the EU directives.

Wiener Städtische Versicherung, one of the largest health insurers in the country, is increasingly focusing on the importance of early detection of skin cancer. Within the framework of a cooperation with the prevention app SkinScreener, it is offering its customers with health insurance (hospital costs, private doctor or daily allowance) the opportunity to use SkinScreener free of charge for one year in a limited campaign and thus to determine their personal risk of altered skin areas.

Supplement to the dermatological examination

One advantage of SkinScreener is that checking the skin for changes can be done anywhere, anytime. The scan of the suspicious skin area is analysed by artificial intelligence and users receive an immediate result and thus certainty in a few seconds. SkinScreener can easily be used at home, but it does not replace regular check-ups with a dermatologist.

The founding team has succeeded in strengthening the company’s management for the next growth step. With Albin Skasa a manager could be inspired for medaia GmbH, who could gain extensive experience as an investment manager in the field of management and development of start-ups.

“It is a great honor for me to take over the management of this company,” said Albin Skasa. “Media GmbH shows incredible market potential. We can build on a mature AI algorithm for the SkinScreener app as well as an excellent company culture. I look forward to moving the company forward and taking advantage of the great opportunities to grow the company even further.”

Albin Skasa already accompanied the company since the end of 2020 as investment manager of the Styrian Business Development Corporation SFG. He played a key role in developing the organisational culture and the new growth strategy and will now be responsible for its implementation. In addition to the organizational development of the company, he is mainly responsible for finance and controlling as well as B2B sales.

After graduating in law from Karl-Franzens-University, Albin Skasa started his career in auditing with Moore Stephens Advisa. In 2015, he joined SFG as an investment manager, where he served until July 2021.

“The goal now is to continue the expansion in Europe together with the ambitious team and to successfully place the SkinScreener medical product as the world’s leading AI in both the B2B market and the B2C market. And by doing so, raise awareness of skin cancer prevention and as an important step forward, increase the chances of cure for millions of people,” said Albin Skasa.

“Cancer prevention is an extremely important issue that is very close to our hearts. Especially in these challenging times of the pandemic. It is very important to us that preventive care is not neglected and that regular check-ups are carried out and adhered to. In addition to the annually recommended preventive check-up with the dermatologist, we now offer this supplement to the risk assessment,” affirms Andrea Kurz, Business Unit Director Oncology, MSD Austria.

About 1 in 5 people worldwide develop skin cancer. Therefore, early detection of skin cancer is of particular importance. The mobile app SkinScreener offers a fast, accurate and reliable way to determine your personal risk of skin lesions (moles, skin spots) easily with your smartphone camera. SkinScreener is certified as a medical device throughout the EU and detects malignant skin lesions and precancerous lesions with an accuracy rate of over 95%. As a result, users receive an immediate risk assessment of their skin change.

About medaia:
The start-up medaia GmbH (=MEDicalArtificialIntelligenceApplications) proves how deeply the regional start-up scene is already immersed in the topic of artificial intelligence.
medaia GmbH is a young and innovative start-up, located in the heart of Styria, Austria. The young and energetic team of experts coming from medical and technical universities is constantly working to develop new ideas and solutions for you. The team members’ diverse specializations, ranging from neuroscience to medicine to biomedical engineering, allow us to develop easy-to-use, clinically validated products based on AI. Of course, the work is based on empirical medical evidence and supported by senior dermatologists.

“With our app, which is approved as a medical device in the EU, the user receives a quick and inexpensive tool to assess the risk of skin changes. At the same time, it raises awareness for the topic of skin cancer prevention,” says co-founder and dermatologist Dr. Michael Tripolt.

In the process, a specially developed artificial intelligence evaluates the risk of pathological changes in the skin. The application of the app is simple: the affected skin area is photographed with the help of the mobile phone camera, and the app immediately shows the risk group by means of a simple traffic light system.

In a successful clinical study, the young company from Graz was able to prove the reliability of SkinScreener: an accuracy of 95% was achieved in the detection of both benign and pathological changes. An absolute top value!

“SkinScreener thus represents the smart, quick supplement to the annually recommended dermatological examination,” says Tripolt.

This development has been made possible by a team of doctors and technicians who have worked intensively on the development of artificial intelligence and the approval of the app over the last 3 years. As a venture capital investor, Steirische Wirtschaftsförderungsgesellschaft m.b.H. SFG provided the necessary financial background for the complex development.

SkinScreener is now available for download from the Apple and Android stores.