Cognetivity Neurosciences Announces Commercial Pilot with Large US Healthcare Provider
Cognetivity’s CognICATM Tool to be Deployed to Detect Traumatic Brain Injury and Mental Health Issues on a Broad Scale for National US Healthcare Operator
Vancouver, British Columbia, September 20th, 2022 – Cognetivity Neurosciences Ltd. (the “Company” or “Cognetivity”) (CSE: CGN; OTCQB: CGNSF; FWB: 1UB), a technology company that has created a unique brain health screening platform for use in medical, commercial and consumer environments, today announces that it has signed an agreement to conduct a broad-scale paid pilot project (the “Paid Project”) with a large national US provider of healthcare services (the “Client”).
The Paid Project will run for a period of 12 months. It will see CognICATM, the Company’s proprietary brain health screening technology, be deployed across a minimum of three but potentially dozens of the Client’s facilities. CognICATM will be used to assess the brain health of the Client’s patients who present with unexplained behavioural disturbances. The commercial terms of the Paid Project will see the Client pay for the use of the CognICATM platform on a per-test basis, with the price depending on the volume of tests taken.
In the context of the environment in which CognICATM will be utilized, unexplained behavioural disturbances can signal a medical emergency. These can be attributable to multiple factors which include:
- acute intoxication;
- mental and behavioural disturbances due to a substance or polysubstance misuse;
- acute or chronic mental illness;
- acute confusional state due to a physical health disorder; or
Therefore, the use of CognICATM gives clinicians a tool to easily, quickly and objectively measure their patients’ cognition, thereby allowing them to make clinical decisions on intervention early and effectively.
Cognetivity’s CEO Dr. Sina Habibi commented, “This new commercial deployment within the US market is a significant event for our team. The CognICATM solution is ideally suited to wide scale brain health screening in complex healthcare environments. By enabling the early detection and highly-sensitive ongoing monitoring of traumatic brain injuries, as well as a multitude of mental health conditions, regardless of a patient’s education, native language or culture, the technology has the ability to deliver enormous reductions in patient care costs and improved patient outcomes for our clients.”
The Client operates facilities in 17 US states and has more than 10,000 employees across an array of healthcare settings, including community healthcare centers, state hospitals, correctional facilities and diagnostic centers. Upon completion of the Paid Project, a review will be conducted to determine the scale and scope of ongoing CognICATM integrations.
Beyond the specific use case detailed above, CognICATM has the potential to be deployed by the Client in the following ways:
- In clinical settings where patients typically suffer from neurodegenerative or neuropsychiatric disorders, to monitor the trajectory of cognitive impairment as an objective measure of the progress of treatment and the patient’s progression in cognitive performance;
- To assess and monitor psychiatric inpatients where, in a clinical setting, inpatients typically present with a first-onset, acute relapse, or reoccurrence of a severe mental illness, given that cognitive performance is strongly correlated with acute functional mental illness, and as patients improve, metrics of cognition are expected to follow and map improvement; and
- To allow the assessment of cognition in all inpatients at the point of admission, during inpatient stays and before discharge, the implementation of which allows measurement of cognition objectively, and progress during and post-treatment to determine its effect and support a discharge plan.
Dr. Habibi added, “Our ongoing growth in the US gives us great confidence in our technology’s relevance in the sophisticated North American healthcare market. CognICATM has advantages over existing methods for detecting brain health issues that are compelling. Working with such large players in providing healthcare is very gratifying. We look forward to being able to announce additional commercial progress in the coming months.”
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 CognICATM 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. CognICATM 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@example.com
For media enquiries, please contact: Josh Stanbury | firstname.lastname@example.org | 416-628-7441
ON BEHALF OF THE BOARD
Chief Executive Officer and Director
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Cognetivity Neurosciences Ltd.