TORONTO, Sept. 13, 2023 (GLOBE NEWSWIRE) -- DiagnaMed Holdings Corp. (“DiagnaMed” or the “Company”) (CSE: DMED) (OTCQB: DGNMF), a generative artificial intelligence healthcare company, provides a development and commercialization update for CERVAI™, a brain health AI platform.
A world first, CERVAI™ consists of a Brain Age Estimation and Brain Health Assessment tool. The Brain Age Estimation tool includes a novel electroencephalogram headset and machine-learning model. It integrates proprietary software into unified and standardized data recording protocols. The Brain Health Assessment tool generates clinician-observed measures and a brain health score. These combined allow users to be proactive in achieving their brain health goals. Future versions of CERVAI™ will incorporate OpenAI’s GPT platform to develop personalized treatment plans.
Fabio Chianelli, Chairman and CEO of DiagnaMed, commented: “We are in the final stage of development for CERVAI™, our novel brain health AI platform. We expect to launch CERVAI™ in Q4-2023. CERVAI™ is for people who want to take control of their brain health. We aim to have CERVAI™ available at hospitals, doctor offices, clinics, pharmacies, and homes – similar to where blood pressure monitors are used."
Development Update
DiagnaMed hired mHealth & eHealth Development and Innovation Centre (MEDIC) to integrate the Brain Health assessment service of CERVAI™. MEDIC is recognized as Canada’s Digital Health Technology Access Centre. CERVAI™ will include privacy and security requirements to be HIPAA and PHIPA compliant.
The Company is working with Drexel University to complete the Brain Age tool of CERVAI™. The first phase of the Brain Age program, which involved EEG recordings of participants at a research site, is complete. A novel lightweight, inexpensive, and easy-to-use EEG headset recorded the EEG data. A proprietary machine-learning model processed the EEG data to predict brain ages. The current model predicted chronological ages with a medium-to-strong statistical effect size. The final phase of the Brain Age program, which involved EEG recordings of participants at home, is complete. Final results from the clinic and home studies will be published this year to support DiagnaMed’s commercialization initiatives.
Commercialization Update
The initial commercial version of CERVAI™ will be ready for launch in Q4-2023. CERVAI™ can be available at health centers, doctor offices, hospitals, clinics, pharmacies, and homes. The Company is finalizing commercial support materials (i.e. training, customer support, marketing). Discussions with clinics and research centers for CERVAI™ in Canada and the U.S. are taking place. DiagnaMed plans to partner with digital health companies for international commercialization.
About DiagnaMed
DiagnaMed Holdings Corp. (CSE: DMED) (OTCQB: DGNMF), a generative artificial intelligence healthcare company, is focused on developing and commercializing CERVAI™, a proprietary brain health AI platform. Learn more at DiagnaMed.com.
For more information about DiagnaMed, please contact:
Fabio Chianelli
Chairman and CEO
DiagnaMed Holdings Corp.
Tel: 416-800-2684
Email: info@diagnamed.com
Website: www.diagnamed.com
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Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “will”, “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe”, “aims”, and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. 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, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Company’s management’s discussion and analysis for the three and nine months ended June 30, 2023 (“MD&A”), dated August 24, 2023,which is available on the Company's profile at www.sedarplus.ca. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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