Foqus

Foqus Technologies Inc. is a Canadian MedTech company addressing a significant bottleneck in medical diagnostics: the long duration of Magnetic Resonance Imaging (MRI) scans.

Founded in 2020 by Michele Mosca and led by co-founder and CEO Dr. Sadegh Raeisi, the company is a spin-out from the University of Waterloo. Dr. Raeisi's work on the company's core technology began during his PhD at the Institute for Quantum Computing, where he focused on the applications of quantum technologies. This deep-rooted expertise in quantum physics forms the foundation of the company's approach. The company has participated in accelerator programs such as the Creative Destruction Lab (Quantum stream, 2020/21) and Waterloo's Velocity incubator.

Foqus is developing a software-as-a-service (SaaS) solution that integrates with existing MRI hardware. The business targets hospitals and diagnostic imaging centers, aiming to alleviate long patient wait times, which average around 90 days in Canada, and reduce physician burnout. By significantly shortening scan durations, the company allows its clients to increase patient throughput, thereby generating more revenue and improving accessibility to this critical imaging modality. The core of their offering is a software platform that employs a combination of proprietary quantum algorithms and artificial intelligence to enhance the quality of MRI images acquired in a fraction of the standard time. Specifically, the technology uses quantum algorithms to extract quantum entropy from molecules within the body, which generates a stronger signal and allows for the collection of less data without compromising image resolution. This enables a reduction in scan times from a typical 45-60 minutes to under 5 minutes. Their product, DeepFoqus-Accelerate, has been tested on over 20,000 MRI images, validated by radiologists, and received 510(k) clearance from the U.S. Food and Drug Administration (FDA) in May 2025, a crucial step for commercialization. The company holds four patents for its technology.

The company's journey includes raising two seed funding rounds, with the latest in February 2024 from investors including the Government of Canada, MK Venture Capital, and Accelerator Centre. This funding has supported pilot studies, such as the one with Robarts Research Institute in London, Ontario, and is propelling the company towards its goal of global adoption in hospitals and clinics.

Keywords: MRI software, quantum computing, medical imaging, artificial intelligence, diagnostic imaging, scan time reduction, healthcare technology, radiology, image enhancement, MedTech, FDA clearance, Sadegh Raeisi, University of Waterloo, Velocity incubator, Creative Destruction Lab, DeepFoqus-Accelerate, quantum algorithms, machine learning in healthcare, patient throughput, medical diagnostics