IBEX, an innovative company at the forefront of pioneering technology for osteoporosis screening, anticipates substantial growth as it enters the deployment phase of its Bone Health software.
NETPark-based IBEX has developed revolutionary software that provides early detection of osteoporosis – a health condition that weakens bones, making them fragile and more likely to break – from routine wrist radiographs.
In November, the Sedgefield company announced its first major deal to integrate its technology – IBEX Bone Health - into new medical imaging machines manufactured and distributed by global-leader Agfa Radiology Solutions under the brand name DensityScan.
Just months later, IBEX revealed it was working with Metaltronica, an Italian provider of diagnostic imaging equipment, to integrate its technology into a new, state-of-the-art diagnostic mammography system, Cybele. This would allow radiographers to take an X-ray of the wrist on the mammography machine, aiding in the early detection and treatment of osteoporosis among the most impacted group in society – post menopausal women and those undergoing breast cancer treatment.
CEO Dr Paul Scott said IBEX is poised to scale the business. “This represents the culmination of a four-year journey for IBEX,” he said. “With the software development work now complete, we are ready to commercialise this opportunity we aim to start seeing the software in hospitals, benefiting countless patients, by the end of this year. This is an exciting and immensely rewarding phase for everyone at IBEX.”
IBEX, which historically specialised in X-ray image enhancement software, redirected its efforts last July to focus exclusively on Bone Health technology. The decision was driven by the critical need in the UK and worldwide to address osteoporosis, which affects an estimated 1 in 3 women and 1 in 5 men at an estimated cost of £4.6 billion per year.
Dr Scott emphasised the significance of early detection in combating the ‘silent disease’. “Identifying patients earlier is key. Simple lifestyle changes and low-cost treatments can reduce fracture risk, improving outcomes for patients and reducing the burden on the NHS” he explained. “Our Bone Health technology is revolutionising how osteoporosis cases are identified, allowing this to be picked up from a standard X-ray, meaning that patients can be diagnosed opportunistically, ideally before their first fracture.”
IBEX Bone Health is compatible with wrist X-rays and work is underway to extend to other regions of the body, including the hip which is the standard region for diagnosing the disease. “This will offer major benefits in developing countries where access to diagnostic equipment is in many cases almost non-existent,” said Dr Scott.
With its shift in focus and following changes enforced during the COVID-19 pandemic, IBEX restructured its operations, moving to a much more flexible way of working. Staff are now largely home based, and the company has moved to being much more output driven, rather than counting the hours spent in the office. As part of this initiative, IBEX has adopted a weekly gift day, where employees are gifted a day back by the company. As a result of the changing needs of the business, IBEX has relocated offices to a smaller facility at Plexus, which serves their new way of working perfectly.
Dr Scott expressed his gratitude for the pivotal role NETPark manager Sara Williams played in IBEX's journey. “NETPark has consistently adapted to the evolving needs of our business, and Sara's and the team’s unwavering support during our transition to remote work was invaluable,” he said. “IBEX and NETPark continue to share a steadfast dedication to innovation and excellence.”
Sarah Slaven, Managing Director of Business Durham, which oversees the operation of NETPark, said: "IBEX's innovative Bone Health technology is a shining example of how NETPark businesses are at the forefront of developing solutions for critical healthcare challenges. Their commitment to early detection of osteoporosis has the potential to significantly improve patient outcomes and reduce the burden on healthcare systems. We're proud to support innovative companies like IBEX and look forward to seeing their impact grow as they enter this exciting deployment phase."
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