Oncology Ventures: Investment in SpotDoc + Voicemail Comedy
Investing in data start-ups to improve cancer care and research
State of Skin Cancer Today
Skin cancer is the most common cancer in the U.S., with over 6M new non-melanoma (mainly basal cell carcinoma and squamous cell carcinoma) cases annually and incidence rates doubling every 30 years. While 99% of cases are curable when caught early, less than 20% of eligible patients receive recommended screenings despite the fact that skin checks are reimbursed by insurance.
The problem is structural:
A shortage of qualified dermatologists, especially in rural and underserved areas
Wait times for a skin cancer screening often exceed three months, while aesthetic treatments like Botox are available almost immediately
Many dermatology practices prioritize high-margin aesthetic services, which account for 72% of all dermatology procedures, leaving only 28% dedicated to medical dermatology
Clinics often use inexpensive provider extenders without diagnostic technology, leading to excessive biopsies, missed cancers and poor patient satisfaction
The U.S. market for skin cancer detection and treatment is estimated at $15B annually, representing both a substantial unmet medical need and a large commercial opportunity for solutions that can close the screening and quality gaps while operating efficiently at scale.
This leaves a large, reimbursable, high-impact medical service to be underutilized due to bottlenecks in delivery.
From a technology and regulatory standpoint, current diagnostic processes remain largely manual and vary widely in quality. However, the landscape is poised for change: within the next 12–18 months, the FDA is expected to approve supervised AI algorithms as diagnostic aids. This milestone will likely unlock new insurance codes, catalyze adoption of AI-enabled detection tools, and accelerate the shift toward more precise, less invasive skin cancer care.
Enter SpotDoc
SpotDoc is a dermatologic oncology platform that uses exclusive full-body 3D imaging and AI to detect, track and manage skin cancers with far greater accuracy and efficiency than manual exams. The SpotDoc platform directly targets key structural constraints in the skin cancer market:
Access bottlenecks: By embedding in existing clinics, launching standalone centers, and partnering with high-density, high-risk communities, SpotDoc bypasses the shortage of dermatologist appointments.
Diagnostic quality: The SpotCheck360 system delivers a full-body 3D scan in under one second (end-to-end it takes two minutes), coupled with AI lesion detection and tracking, reducing unnecessary biopsies by up to 90%.
Scalability: A two-week build-out timeline and extender-led care model (85% reimbursement at ~30% of dermatologist cost leveraging nurse practitioners and physician assistants) allow rapid replication without sacrificing quality.
SpotDoc integrates proprietary hardware (seen below), AI-powered software, and a scalable staffing/training model to transform the delivery of skin cancer screening and surveillance. It is designed both to improve patient outcomes and to operate profitably in settings where dermatologist supply is limited.
Patient and Provider Workflow is as Seamless as it Gets
Intake and Scan: Patient enters a SpotDoc-powered clinic. Within one second, the SpotCheck360 system creates a full-body 3D avatar, capturing every mole and lesion with high-resolution accuracy.
AI Analysis: Proprietary algorithms automatically flag, score, and track suspicious lesions. Lesions are compared against historical scans for changes, enabling longitudinal surveillance.
Provider Oversight: A trained provider extender reviews the flagged results. Only lesions of concern require dermatologist escalation, dramatically reducing reliance on scarce specialists.
Patient Outcomes: Patients receive same-day feedback with images and longitudinal comparisons, reducing anxiety and unnecessary biopsies while ensuring cancers are caught early.
This is incredibly different from today’s status quo.
For context, I am 8-years cancer free and go to a skin cancer specialist once a year. My appointment (at a top oncology institution) is me standing there while a doctor (who is at the top of his field) takes photos of me with a digital camera for five minutes while constantly looking at a separate screen to see if anything looks kind of different since last year. This is inconsistent, time consuming and invasive.
SpotDoc is a <1-second scan, with fully automated lesion capture and AI-enabled longitudinal lesion tracking to identify changes over time.
Oncology Ventures is thrilled to partner with SpotDoc as they democratize access to gold-standard dermatologic oncology care.
Comedy!
People’s voicemails are the most embarrassing artifact we refuse to update. They’re the one technology related thing we’ve all just decided to leave unchanged since 2003.
Different age groups have very different voicemails.
Boomers will tell you their number in their voicemail. “Hey you’ve reached me at 212-906…” I know your number Bob. I just called it. Some of them throw in the weather. “It’s beautiful out here in sunny San Diego.” Nothing like getting a weather update for a random day 10 years ago in a city I don’t live in.
Millennials still think “Hello?… just kidding! Leave a message” is comedy gold.
And Gen Z? No voicemail recording. If you leave them a message, I’m pretty sure they call the cops.
My favorite is the work voicemail from a recent college grad. “You’ve reached the desk of Daniel Thompson at Xandercorp Synergies”’ Relax bud, your desk is a beanbag chair in a WeWork next to a guy daytrading Dogecoin.
It’s scary to leave a voicemail. The beep is the worst jump scare you can get outside of a haunted house. Especially when it goes straight to the beep. No warning, just straight to “BEEP!” My brain forgets English. “Hey… it’s… uh… me. You know me. Anyway. Beep. Ahh why did I say beep…”
Honestly, we should all re-record them. But we won’t. Because deep down, your voicemail is your horcrux. It holds a piece of your soul from the year you peaked.
Asks
What is one pharma company (outside of the top 10 by revenue) we should get to know?
If you will be at HLTH (Las Vegas, 10/19-10/22) or AVBCC (NYC, 10/22-10/24), drop us a line.