Cognetivity Neurosciences provides update on 2021 corporate achievements
Company poised for rapid expansion in 2022 after highly successful 2021, in which it secured commercial deployments across three continents, US FDA registration and multiple awards for innovation in AI
Vancouver, British Columbia, January 11, 2022 – Cognetivity Neurosciences Ltd. (the “Company” or “Cognetivity”) (CSE: CGN; OTCQB: CGNSF; FWB: 1UB) has provided an update on the significant progress it made during 2021, setting the company up for rapid growth in 2022 and beyond.
2021 saw Cognetivity reach important commercial agreements in three continents and across a variety of use cases. The company extended its track record of successful implementation in the UK’s National Health Service (NHS), achieving deployments in two of the country’s largest and most prestigious mental health trusts, South London and Maudsley (SLaM) NHS Foundation Trust and Birmingham and Solihull Mental Health NHS Foundation Trust (BSMHFT). The innovative Birmingham deployment covered both primary and secondary care and was facilitated by Cognetivity’s ongoing partnership with the world-leading data and interoperability platform provider InterSystems.
Outside the UK, Cognetivity launched in the Middle East and confirmed its first deployment in the region within weeks, at the state-of-the-art Clemenceau Medical Center in Dubai, UAE. Cognetivity also took its crucial first steps into the North American healthcare market, striking a deal with the next-generation health and wellness company Ketamine One that saw the Integrated Cognitive Assessment (ICA) rolled out in clinics throughout the US and Canada.
The Ketamine One agreement, alongside deals with the Dutch telehealth company Luscii and the UK-based residential care provider Loveday, demonstrated that the ICA has very broad applicability extending beyond its core use of enhancing dementia detection and diagnosis.
Beyond these commercial deals, Cognetivity also received formal recognition of its ground-breaking work throughout 2021 in the form of numerous awards and program invitations. In February, it was awarded a place on the ‘Scaleup Programme’ run by Innovate UK, the UK Government’s innovation agency, having been judged as capable of achieving at least 50% annual growth. In September, it was selected to join the prestigious Health Batch 13 program run by the Silicon Valley-based open innovation platform Plug and Play, which has previously backed household names such as Dropbox and PayPal. Finally, to round off the year, the company won two prizes in the UK celebrating its innovation in artificial intelligence, at the 2021 Health Tech Awards and Cloud Excellence Awards.
In conjunction with these high-profile achievements, Cognetivity spent the year strengthening the underlying foundations necessary for the company to achieve further global success in 2022 and beyond. On the regulatory front, it completed the registration of its technology with the US Food and Drug Administration (FDA), allowing the ICA to be marketed as a medical device for commercial distribution throughout the US, which has the largest national healthcare market in the world.
The company also filed a key new patent covering the use of an AI-based system to estimate levels of core biomarkers of neurodegeneration in the brain. The patent will enable the ICA platform to be licensed for much-needed biomarker assessment in the pharmaceutical and healthcare industries, particularly as Aduhelm (aducanumab) and other disease-modifying Alzheimer’s drugs revolutionise the field of dementia treatment over the next few years.
Moreover, the company continued to build on the scientific evidence validating the use of the ICA in diverse clinical settings. In July, it published a research paper in the peer-reviewed journal Frontiers in Psychiatry, which provided further evidence of the ICA’s sensitivity to early-stage Alzheimer’s Disease, freedom from cultural or educational bias and suitability for remote patient monitoring. The company also presented significant new results at two of the largest Alzheimer’s conferences in the world, the Alzheimer’s Association International Conference (AAIC) in July and the Clinical Trials on Alzheimer’s Disease (CTAD) Conference in November.
Cognetivity remains committed to the importance of robust evidence in driving changes in healthcare. At the start of last year, it announced the expansion of its UK government-funded study to include research on the use of the ICA to conduct Covid-safe remote cognitive assessments. In December, meanwhile, it entered into a collaborative partnership with Ketamine One, alongside the ongoing commercial agreement between the two companies, to study and develop assessments for depression and post-traumatic stress disorder (PTSD).
Finally, Cognetivity used 2021 to bolster its advisory board with a series of impressive appointments. Four individuals with a wealth of experience spanning academia, healthcare policy, NHS management and industry joined the Cognetivity team: Ed Smith, former Chairman of NHS Improvement; Dr Carol Routledge, former Director of Research at Alzheimer’s Research UK; Lord O’Shaughnessy, former UK health minister; and the internationally-renowned geriatric psychiatrist Professor Dag Aarsland.
Commenting on the overview of Cognetivity’s success in 2021, the company’s co-founder and CEO, Dr Sina Habibi, said, “We’re delighted at everything that we’ve managed to achieve over the past year. The pandemic has continued to make all aspects of our work challenging – from our commercial efforts to our research and regulatory goals – and yet across the board I’m thoroughly pleased and proud of what we have accomplished. It’s no surprise that we’ve attracted more and more media attention, featuring in The Economist, WIRED magazine, the BBC and The Times last year, among many others.”
“Of course, we have no intention of slowing down,” Dr Habibi continued. “Everything we have done in 2021 has been with an eye to the future. We are poised for rapid expansion throughout 2022 in the UK, the Middle East and the US, as we continue to pursue our goal of transforming dementia care and improving health outcomes for millions of people across the entire world.”
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 cognitive impairment by testing the performance of large areas of the brain. The ICA is currently available for clinical use in the USA, UK and Europe, with regulatory approval for other regions planned for 2022.
For media enquiries, please contact: Josh Stanbury | email@example.com | 416-628-7441
ON BEHALF OF THE BOARD
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.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Cognetivity Neurosciences Ltd.