Cognetivity Neurosciences to Deploy CognICA™ at Beyond Geriatrics Clinic in Florida
The Company has Signed a Commercial Agreement to Deploy its CognICA™ Tool to Assess the Cognitive Health of Clinic Patients
VANCOUVER, BC, May 25, 2022 /CNW/ - Cognetivity Neurosciences Ltd. ("Cognetivity" or the "Company") (CSE: CGN) (OTCQB: CGNSF) (FRA: 1UB), 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 is has signed a commercial agreement to deploy its CognICA™ cognitive assessment tool with Beyond Geriatrics, a specialist primary and urgent care clinic ("Beyond Geriatrics" or the "Clinic"), in Clearwater, Florida. The Clinic has entered into a one-year licensing agreement with Cognetivity, with a three-year renewal option.
Founder and Chief physician of Beyond Geriatrics, Dr. Kimberley Evans, is a specialist physician with over 18 years of experience assessing, diagnosing, and treating geriatric patients. Dr. Evans commented: "Finally, I have a tool at my fingertips that quickly and accurately evaluates my patients' cognitive function. For decades we have been primarily focused on our patients' cardiovascular health. Now, it is time to focus on the cognitive health of all our patients and CognICA™ is making that possible in my office."
Beyond Geriatrics' patient population is aptly suited for the use of CognICA™ as the Clinic already screens for brain health among its high-risk geriatric patients from a cognitive perspective. Alzheimer's disease, for example, is the sixth leading cause of death in the United States and early diagnosis and proper assessments are crucial for patients suffering from the disease and other cognitive impairments.1 More information about Beyond Geriatrics can be found on its website: https://beyondgeriatrics.com.
"We are excited to add Beyond Geriatrics to our growing client roster in the United States and are proud to have an industry leader like Dr. Evans utilizing CognICA™ to help deliver better health outcomes as a result of earlier and more accurate detection of cognitive impairment," said Dr. Sina Habibi, Co-Founder and Chief Executive Officer of Cognetivity. "The commercial rollout of the CognICA™platform continues to gain traction quickly. We're seeing increasing demand on a daily basis for our technology's unique capabilities across several industry sectors in multiple territories, which gives us great confidence as we carry out our commercial expansion plans," added Dr. Habibi.
According to the Lancet Commission, almost one billion people worldwide suffer from a mental disorder and the estimated costs of these disorders is estimated to have a global economic cost of US$16 trillion by 2030.2 Early detection of brain health disorders has the potential to significantly reduce costs of care while improving patient outcomes. Cognetivity's CognICA™ technology is a unique and highly scalable software-as-a-service solution able to accurately detect the earliest stages of the majority of major brain health disorders.
Cognetivity is a technology company that has created a cognitive testing platform for use in medical, commercial and consumer environments. Cognetivity's CognICA™ 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 CognICA™ is currently available for clinical use in the USA, UK and Europe, with regulatory approval for other regions planned for 2022.
For more information, please visit: www.cognetivity.com or contact: [email protected]
ON BEHALF OF THE BOARD OF DIRECTORS
"Sina Habibi"
Sina Habibi
Chief Executive Officer and Director
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.
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- "Cognitive impairment in the U.S.: Lifetime risk, age at onset, and years impaired", Jo Mhairi Hale et al, SSM – Population Health, August 2020, https://www.sciencedirect.com/science/article/pii/S2352827319304549.
- "Mental health crisis could cost the world $16 trillion by 2030", Reuters, October 19, 2018, accessed on May 24, 2022, https://www.reuters.com/article/us-health-mental-global-idUSKCN1MJ2QN.
SOURCE Cognetivity Neurosciences Ltd
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