DIAGNOS, following a successful Proof-of-Concept (POC) pilot study, is finalising its new application CARA-STROKE to address Stroke prevention and management, a market estimated at $36 Billion
March 9, 2021 (Source) — Diagnos Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture: ADK) (OTCQB: DGNOF), a leader in early detection of critical health issues through the use of its FLAIRE platform based on Artificial Intelligence (AI), announces today the final step of the development of its STROKE predictor (CARA-ST) based on images of the retina. Following the completion of a successful POC pilot study with over 3,000 patients, DIAGNOS is now ready to proceed with clinical trials.
As per the Centers for Disease Control and Prevention (CDC), strokes are the cause of 1 out of every 20 deaths, representing a cost of approximately 34 billion USD per year in the United States. According to the World Health Organization, 15 million people suffer a stroke worldwide each year. Of these, 5 million die and another 5 million are permanently disabled. High blood pressure contributes to more than 85% of strokes worldwide. Europe averages approximately 650,000 stroke related deaths each year.
Hence, early diagnosis and treatment to prevent deaths from stroke is a time sensitive necessity. Stroke prevention devices are currently used to reduce the risk of a recurrent stroke in patients and have been shown to lower the overall risk.
“CARA-ST will be able to predict the viability of developing a stroke condition based on the micro circulation analysis of the retina image of the patient. DIAGNOS has been developing this technology for the last four years and because of the conditions brought on by the COVID-19 pandemic, we were able to expedite the final testing and development of our new application,” said Mr. Riadh Kobbi, Vice President Data Science at DIAGNOS.
“According to new reports published by worldwide research institutes, the market size for Stroke Management will hit over $36 Billion dollars by 2023. DIAGNOS intends to be part of the solution by making available an affordable predictive test to the general public. At DIAGNOS we have continued to invest in Research and Development, furthering the creation of our intellectual property by partnering with Quebec government programs and local university (ETS) to ensure we stay ahead of competition worldwide. This year our new stroke management application will be field tested in multiple countries. For our investors this ground-breaking test comes at an ideal time in terms of shareholder value creation as the combination of both CARA-DR and CARA-ST tools will be transformational in helping to monitor the health of existing and future CV patients,” said Mr. André Larente, President of DIAGNOS.
DIAGNOS is a publicly traded Canadian corporation dedicated to early detection of critical health problems based of its FLAIRE Artificial Intelligence (AI) platform. FLAIRE allows for quick modifying and developing of applications such as CARA (Computer Assisted Retina Analysis). CARA’s AI-based image enhancement algorithms provide sharper, clearer and easier-to-analyze retinal images. CARA is a cost-effective tool for real-time screening of large volumes of patients. CARA has been cleared for commercialization by the following regulators: Health Canada, the FDA (USA), CE (Europe), COFEPRIS (Mexico) and Saudi FDA (Saudi Arabia).
This news release contains forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements. DIAGNOS disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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