With global interest in AI at an all-time high, latest update to Cognetivity's flagship medical device affirms company's sustained commitment to being at the forefront of AI in healthcare
Vancouver, British Columbia--(Newsfile Corp. - February 14, 2023) - Cognetivity Neurosciences Ltd. (CSE: CGN) (OTCQB: CGNSF) (FSE: 1UB) (the "Company" or "Cognetivity"), a technology company that has created a unique brain health screening platform for use in medical, commercial and consumer environments, is pleased to announce that it has released an updated version of its flagship tool, CognICA.
CognICA is a unique platform for the assessment and monitoring of brain health: powered by artificial intelligence (AI), FDA-registered and CE-marked, and commercially deployed in North America, East and Southeast Asia, the Middle East, and the UK's National Health Service (NHS).
Cognetivity's technology uses AI and machine learning (ML) techniques to help detect the earliest signs of cognitive impairment by providing a fast, sensitive and objective measure of brain function. This enables CognICA to facilitate the early identification of individuals with brain health issues, at a time when interventions are most effective, as well as supporting their long-term treatment management and monitoring.
Crucially, as a fundamentally AI and ML-based tool, CognICA can be continually expanded and enhanced over time, trained on more data from an increasing number of global deployments to build increasingly refined, disease-specific models. In the case of Alzheimer's disease, for example, the company already holds a patent covering the use of an AI-based system to estimate levels of core biomarkers of neurodegeneration in the brain, such as amyloid ß (Aß) protein.
The tool is tablet-based, self-administered and independent of language and education biases, thereby making it highly effective for comprehensive, scaled screening programs in all geographies. Among a range of improvements, the latest version of CognICA includes local data storage functionality, facilitating deployment in an expanded range of territories and thus enlarging the potential market for the technology. It also permits unlimited scaling, ensuring that users benefit from a rapid, efficient experience regardless of user load.
Commenting on the announcement, Dr. Sina Habibi, CEO of Cognetivity, said: "At Cognetivity, we have always been committed to driving excellence in healthcare and the powerful role that AI has to play in delivering that transformation. We are delighted to have released the latest upgrade to our flagship platform, affirming our commitment to providing an outstanding, high-performance tool that has the power to revolutionise clinical working practices and the lives of millions of patients all over the world."
About Cognetivity Neurosciences Ltd.
Cognetivity is a technology company that has created a cognitive testing platform for use in medical, commercial and consumer environments. Cognetivity's ICA uses Artificial Intelligence and machine learning techniques to help detect the earliest signs of cognitive impairment by testing the performance of large areas of the brain. The ICA is currently available for clinical use in the USA, UK, Europe and the Middle East, with regulatory approval for other regions planned for 2023.
ON BEHALF OF THE BOARD
"Sina Habibi"
Sina Habibi
Chief Executive Officer and Director
FORWARD-LOOKING STATEMENTS:
Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "assume" "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information: Please visit: www.cognetivity.com or contact: info@cognetivity.com; for media inquiries please contact pr@cognetivity.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154634
