Dublin, Ireland--(Newsfile Corp. - June 3, 2024) - Cosmo Pharmaceuticals N.V. (SIX: COPN) (FSE: C43) ("Cosmo") with its Cosmo Intelligent Medical Devices division ("Cosmo IMD") is consolidating its strategy to accelerate the adoption of responsible and regulated AI in healthcare, obtaining pragmatic results in its mission to address unmet clinical needs and improve patient outcomes.
GI Genius has been conceived and is being designed, developed, manufactured by Cosmo IMD, and distributed by Medtronic worldwide. It has been the first platform to reach the market with real-time AI designed to assist physicians during patient procedures, and a large body of scientific evidence has demonstrated how its effective human-AI interaction design is improving patient care.
After 5 years in the global market, GI Genius has impacted over 3 million patients[1] undergoing endoscopy and revolutionized the field.
Last year, Cosmo IMD and Medtronic launched AI Access, an open program to select regulated, responsible AI apps to be hosted in it and used in the field. Cosmo IMD Innovation Center has been designed to be the doorway to access the program and the first apps that qualified through it are in their final stage to be deployed.
Having no compromises to be at the forefront of innovation, Cosmo IMD announces today that the GI Genius platform integrating the latest NVIDIA IGX platform is in its final stage of regulatory approval and will be available in Q3 2024.
NVIDIA IGX is an industrial-grade, edge AI platform that combines enterprise-level hardware, software, and support. Purpose-built for industrial and medical environments, IGX empowers organizations with the performance, durability, security, and safety required for AI at the edge.
Powered by NVIDIA IGX, GI Genius supports the latest artificial intelligence breakthroughs, like generative AI, includes superior data processing and real-time communication performance, and comes with state-of-the-art tools and services to seamlessly integrate new developments, including the NVIDIA Holoscan software development kit and NVIDIA's Enterprise AI-IGX platform for 10-year support.
This last addition further empowers the GI Genius Operating System. This framework fast-tracks the development and deployment of new AI apps to the patient environment, as it allows their distribution in the existing fleet of GI Genius units, which are the world's most adopted AI edge computing platform for real-time patient care.
Giovanni Di Napoli, CEO of Cosmo, said: "With GI Genius, we have introduced the first real-time AI-enhanced medical device, showcasing the immense benefits AI technologies can bring to healthcare professionals. Our exceptional foundation of talent and capabilities has been instrumental in reaching this milestone and this solid base is now propelling us towards even greater achievements. We are among the first to integrate the NVIDIA IGX platform and doing that at large scale. Our ability to execute, dedication and innovation are driving our accelerated progress and paving the way for an even brighter future."
Nhan Ngo Dinh, President of Cosmo Intelligent Medical Devices (IMD), said: "Since the beginning of our journey, we've been thinking of GI Genius as a platform to host not one, but several AI apps. Today, our ecosystem is the first and the only one that has proven to deliver the benefits of artificial intelligence in real time during patient procedures. As there is a growing consciousness of the role of AI in healthcare, we are bringing the latest AI technology to patient procedures, enabling a new industry of AI-powered, software-defined medical devices that can address unmet clinical needs, shifting the gear in the pace of innovation."
About Cosmo
Cosmo is a pharmaceutical company focused on developing and commercialising products to treat selected gastrointestinal disorders, to improve endoscopy quality measures through aiding the detection of colonic lesions and to treat selected dermatological conditions. Cosmo develops and manufactures products which are distributed globally by selected partners including Lialda®/Mezavant®/Mesavancol®, Uceris®/Cortiment®, Aemcolo®/ Relafalk®, Lumeblue® and Winlevi®. Cosmo has also developed medical devices for endoscopy and has a partnership with Medtronic for the global distribution of GI Genius, which uses artificial intelligence to help detect potential signs of colon cancer. The company also has a rich development pipeline. For additional information on Cosmo and its products, please visit www.cosmopharma.com.
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Contact
Hazel Winchester
Head of Investor Relations
Cosmo Pharmaceuticals N.V.
Tel: +353 1 817 03 70
hwinchester@cosmopharma.com
Disclaimer
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Cosmo does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Cosmo and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.
[1] Estimated annual patient impact globally with current install base (estimate based on installation based calculated by average colonoscopies per tower).
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SOURCE: Cosmo Pharmaceuticals N.V.
