Early Detection a Lifesaving Strategy for Breast Cancer

Q: How has Mamotest's expansion into Mexico progressed?

A: In 2020, Mamotest was still a hybrid company, with a physical presence but driven by technology. In 2021, we entered Mexico with this model but, three years later, Mamotest is entirely a cloud-based company, fully focusing on healthtech. We no longer have a physical presence so we use the infrastructure of our partners, such as clinics, hospitals, and pharmacy chains. Leveraging this infrastructure allows us to be more efficient regarding early diagnosis, saving lives while reducing system costs.

The inefficiency of healthcare systems is a common issue globally. Most countries have broken systems that lack good communication. This inefficiency leads to significant delays in diagnosis and treatment, particularly for breast cancer in women.

Our added value lies in connecting the disjointed parts of the healthcare journey. For breast cancer, this means facilitating a smooth patient journey, from awareness to accessing high-quality diagnostic centers equipped with the latest technology. We ensure that images from mammograms are accurately captured and quickly reported back to the patient and her referring physician within 24 hours. Identifying women at risk for developing breast cancer promptly allows us to guide them swiftly through the necessary subsequent steps, ensuring the process is as short and efficient as possible. We also provide information tailored to their economic and geographic circumstances, further helping them access timely diagnosis and treatment.

Q: Who are your key partners and stakeholders and how do they contribute to the company's mission?

A: Our network includes local and regional governments, NGOs, and insurance companies interested in early diagnoses for their insured individuals. We collaborate with major laboratory chains and pharmacies, connecting them to our network to ensure women can access mammograms. The images are uploaded to our cloud, where a network of specialist doctors provides high-quality, rapid diagnostics assisted by AI. Our partners include prominent pharmacy chains in Mexico and major pharmaceutical investors. We are also engaging in due diligence with a new strategic partner from the European Union. Aligning all stakeholders' interests ensures a unified effort to help women quickly and efficiently navigate their healthcare journey.

Q: How has the Bolder platform evolved since its inception, and what benefits has it brought to patients and healthcare providers?

A: Mamotest entered Mexico after experiencing only the Argentinian healthcare system, but we have since expanded to Mexico, Brazil and Spain. The platform has been standardized and made modular to meet specific needs. In Mexico, the end-to-end solution is deployed due to the fragmented nature of the healthcare system, while in Spain, only the image interpretation module is used to address diagnostic bottlenecks.

Mamotest has integrated AI into its platform, developing an algorithm to assist doctors in interpreting mammograms by highlighting potential anomalies. While the algorithm does not diagnose, it enhances the efficiency of doctors' diagnoses and is continuously improving with more data. Mamotest also aims to expand its solution to other types of cancer, potentially benefiting a broader population. The company's modular and adaptable platform positions it to address various healthcare challenges across different regions and systems.

Q: How would you describe the status of breast cancer in Mexico in terms of early detection and access to treatments?

A: Annually, about 21 million cancer cases are diagnosed worldwide, with nearly half resulting in death. Breast cancer is the most common cancer, with about 2.5 million new cases diagnosed each year, resulting in around 800,000 deaths. This lower mortality rate, compared to other cancers, is because breast cancer is treatable if detected early. Early diagnosis can lead to a 98% survival rate.

About 85% of the Mexican population lacks private health insurance and must rely instead on public healthcare, which faces issues like inadequate equipment, limited access to doctors, and bureaucratic hurdles. This often delays diagnosis and treatment, leading to higher mortality rates.

Mamotest aims to bridge the gap between public and private healthcare systems by leveraging technology. We believe collaboration can improve healthcare in Latin America, reducing investment, shortening wait times, and lowering costs to ultimately save lives. We use technology to enhance existing public and private healthcare infrastructure, providing solutions that connect various healthcare components. This approach improves diagnostic quality and efficiency. The company’s mission is to drastically reduce breast cancer mortality.

Q: How has the femtech industry evolved in Latin America in recent years, and what are the primary developments driving this growth?

A: Femtech and digital health are lagging behind in Latin America. The COVID-19 pandemic highlighted the need to use technology and data in healthcare, accelerating adoption globally but not as rapidly in Latin America. The European Union and the United States are advancing, while Latin America remains behind, especially in the public sector. Many government officials in Mexico are unfamiliar with its potential benefits.

Femtech is gaining traction in other countries, with companies like Midi Health in the United States leading initiatives. Mamotest aims to demonstrate the significant value and social impact of femtech. Despite challenges, we have made significant advances in Mexico over the past three years. The company now has alliances with major Mexican companies and is launching significant awareness campaigns. The next goal is public sector engagement. While slower and more bureaucratic, there is hope that the public sector will follow the private sector's lead, integrating digital health solutions to improve healthcare accessibility and quality.

Q: What are Mamotest’s main goals and objectives for 2024?

A: Mamotest is in its early development stages, with about US$6 million raised from MSD, Johnson & Johnson, and venture capitalists. We prioritize strategic investors who provide both funding and industry expertise, which accelerates our growth in the healthcare sector.

We began in Argentina and expanded to Mexico in 2021. Spain is now our principal market due to its mature healthcare system, which rapidly adopted our solutions. Mexico is our second-largest market, with significant potential but moving more slowly. Argentina is becoming more attractive for investments again given recent political and economic changes.

Starting in September, we will establish a presence in the Middle East in Dubai and Abu Dhabi, United Arab Emirates. We are exploring other markets, including Costa Rica. Our thoughtful, step-by-step approach ensures sustainable growth and impact.

Mamotest is an AI solution democratizing cancer screening, diagnosis and access to treatment. Conceived as a company that uses technology to promote social impact, Mamotest aims to drastically reduce breast cancer mortality.