Cognetivity Neurosciences Provides Update on 2020 Corporate Achievements
Cognetivity reached several major milestones including first clinical deployment of its technology within the UK’s NHS, providing a strong platform for growth in 2021
VANCOUVER, BC, Jan. 5, 2021 /CNW/ – Cognetivity Neurosciences Ltd. (the “Company” or “Cognetivity”) (CSE: CGN) (OTCQB: CGNSF) (FWB: 1UB) provides an overview of the significant progress made during 2020. Despite the many unusual challenges triggered by the COVID epidemic and its impact on public health, Cognetivity is actively engaged in a growing number of meaningful commercial opportunities to deploy its proprietary Integrated Cognitive Assessment (ICA) technology. The ICA is a first-of-its-kind platform that can provide early detection of the onset of Alzheimer’s Disease in patients and has an important role to play in the mitigation of disease progress.
2020 delivered enormously important breakthroughs for Cognetivity’s technology and for the millions of patients and families who must live daily with a devastating disease. At the start of the year, the ICA was awarded regulatory approval by the UK’s Medicines and Healthcare Products Regulatory Agency. This regulatory approval elevated the ICA as a CE-marked medical device, officially certifying it for medical use, and enabling it to be sold for clinical deployment across the UK and Europe.
Subsequent to that approval, Cognetivity’s research team published significant new data on ICA’s capabilities and its suitability for early detection and monitoring of Multiple Sclerosis – another pervasive and devastating neurodegenerative disease – in the peer-reviewed May 2020 journal of BMC Neurology. In August, the company’s Chief Scientific Officer presented further data-backed evidence at the the largest and most influential international meeting dedicated to advancing dementia science, the Alzheimer’s Association International Conference 2020 where over 31,000 global attendees were provided exposure to the ICA platform.
In September, Cognetivity signed its first agreement for the deployment of the ICA through the UK National Health Service (NHS). The first phase of this deployment is providing technology to enhance the quality and efficacy of dementia assessments within one of the country’s leading mental health Trusts, North Staffordshire Combined Healthcare NHS Trust – one of only two specialist mental health Trusts in England and a leading center of excellence for the treatment of neurodegenerative conditions.
In November, the company saw its first NHS primary care deployment in the city of Sunderland, England. This NHS breakthrough was particularly significant due to it providing first-ever disease monitoring capabilities to primary healthcare physicians for identifying and treating patients with Mild Cognitive Impairment (MCI), the critical but difficult to diagnose early stage in diseases such as dementia. It is expected that these implementations will provide a springboard for future deployments in both primary and secondary care throughout the UK and Europe, then to the United States and worldwide.
Cognetivity’s CEO Dr. Sina Habibi commented “Given the high esteem in which the NHS is held both in the UK and internationally, we’re thrilled to have the ICA platform deployed with NHS clinicians for detecting and managing their patients’ disease progress. It is very strong commercial validation of our foundational model and a major step in our ambition to revolutionise how the world approaches dementia diagnosis and care.”
Beyond deployments, in October, the UK government announced Cognetivity’s acceptance into its G-Cloud procurement framework, including the ICA, an important step which will streamline the integration of the ICA technology across NHS nationwide. In December, the company also made significant progress toward North American expansion by making the highly selective final cohort group in the Texas Medical Center’s Fall 2020 Innovation program. In October, Cognetivity was featured in the Wall Street Journal alongside companies including Microsoft and Apple in a story looking at the use of artificial intelligence (AI) in early dementia detection. In December an upcoming research collaboration with Oxford University to further investigate the use of the company’s ICA platform for smartphone-based, remote cognitive assessment was announced, and the year was finished by the completion of a financing round, raising $2.6 million to fund the drive towards commercialization.
Cognetivity’s management team is very proud of what was achieved during 2020 and anticipate maintaining this impressive momentum in 2021. The company’s CEO, Dr Sina Habibi further commented “We are delighted with the progress made in 2020. The global pandemic that has massively challenged healthcare systems worldwide, has also accelerated demand and acceptance of effective tools that can allow doctors to better help their patients remotely. The battle against Alzheimer’s and dementia will remain an ongoing challenge for decades to come, but we are getting closer to a time when the progress of this disease can be stopped or even reversed, and accurate early detection is key to that ultimate goal. We believe that our technology has an integral part to play in this endeavour, and that we are ideally poised to make significant progress in the coming year towards helping improve the prospects for millions of sufferers worldwide.”
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 impairment by testing the performance of large areas of the brain to support diagnosis of dementia. It has achieved regulatory approval for clinical use in the UK and Europe with future clinical approval anticipated in North America and elsewhere in the world.
For more information, please visit: www.cognetivity.com
ON BEHALF OF THE BOARD
Chief Executive Officer and Director
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