Agreement with IRIS a ‘major breakthrough’ for DIAGNOS path to global commercialization

Did you know that doctors can study the retina of your eye and get an early reading on the condition of your arteries in your body? Going one step further a company has recently completed a successful pilot study for early stroke detection using their AI driven retina analysis technology and is now moving onto clinical trials. 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. Strokes cause 1 out of every 20 deaths and represent a cost of approximately US$34 billion per year in the United States.

The Company is DIAGNOS Inc. (TSXV: ADK | OTCQB: DGNOF) (“DIAGNOS”). DIAGNOS is a leader in artificial intelligence (AI) and healthcare technical services including algorithm development, data analysis, and image processing ever since 2001. DIAGNOS has developed an AI tele-ophthalmology platform known as CARA (Computer Assisted Retina Analysis) to examine patient’s retinas in the eye for the early detection of diseases such as diabetics, hypertension and other cardiovascular disease (including stroke). CARA integrates with existing equipment (hardware and software) making it suitable for existing practitioners. CARA uses AI algorithms to make standard retinal images sharper, clearer and easier to read. Effectively this means better early stage diagnosis of the various cardiovascular diseases mentioned above.

CARA is also 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). DIAGNOS already operates in 16 countries, 131 screening sites, and has 222,034 patients under their care.

DIAGNOS has developed AI to help better diagnose cardiovascular disease in the retina of the eye

Source: Diagnos Inc. website

CARA will now undergo clinical trials to test its effectiveness in detecting patients at risk of stroke

Riadh Kobbi, Vice President Data Science at DIAGNOS, states:

“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…..This year our new stroke management application will be field tested in multiple countries.”

The global rollout of CARA commercialization continues

Announced in March 2021, Óptica Central (in collaboration with Aselcom, DIAGNOS’ distributor) has begun pilot testing screening of patients using DIAGNOS’s CARA Telemedicine technology. Óptica Central is the third largest optical retailer in Costa Rica. Óptica Central offers optics and optometry services. Their CEO, Jefrey Salas, stated:

“Óptica Central…..are pleased to start screening the population across our optical stores by providing DIAGNOS’ proven AI solution for early detection of eye illnesses, such as Diabetic Retinopathy, as well as preventing blindness caused by diabetes. There is no doubt that DIAGNOS’ experience in Costa Rica, and in other Latin American countries, has been at the forefront in proving its service with their remarkable technology.”

Announced in April, 2021, was the signing of an exclusive distribution agreement with Diagnos Europe GmbH, a new partner for DIAGNOS to tackle the strategically important DACH countries (Germany, Austria, Switzerland) in the European market and the surrounding countries Poland, Luxembourg and Liechtenstein in order to prepare a successful market entry for the Company’s products and services in Central Europe, a crucial territory for DIAGNOS with a significant market potential in excess of more than 140 million people.

Announced on June 9, 2021, DIAGNOS has signed a multi-year agreement with IRIS The Visual Group Inc. (“IRIS”), creating a world leading platform launch for the deployment and enhancement of AI based tests, screening for vascular changes in the retina for optometry clinics. This very exciting news now means DIAGNOS’s CARA AI platform will be rolled out in a multi-step approach first to the 145 IRIS locations in Quebec, followed by the other store banners across New Look’s network of stores across Canada and Florida over the next year. (Note: The New Look Vision network totals 406 locations operating across North America). The deal has implications beyond diabetic retinopathy as it also includes the potential for additional AI exams that DIAGNOS is developing for hypertension, glaucoma and diabetic macular edema. DIAGNOS will also be receiving some funding from the INVEST-AI program to develop an application for diabetic macular edema using optical coherence tomography (OCT) images. In the news release DIAGNOS stated: “This milestone agreement with IRIS constitutes a major breakthrough for DIAGNOS’ path to continued global commercialization of its technology solutions.”

DIAGNOS’s revenues are forecast to grow rapidly, net profits forecast by 2023

Based on analyst’s forecasts, DIAGNOS is forecast to achieve C$1 million of revenues in 2022 rising to C$7 million by 2023. Due to a forecast strong net profit margin of ~32% in 2023, DIAGNOS is forecast to have a 2023 net profit of C$2.3 million, equating to a 2023 PE ratio of ~21.

DIAGNOS’s CARA AI driven tele-ophthalmology platform studies the retina to detect potential cardiovascular disease in the body

Source: Diagnos Inc. website

Closing remarks

For investors, there is a lot to like about DIAGNOS. A huge global need to better diagnose and screen for cardiovascular disease (especially stroke), ideally at an early stage to achieve positive outcomes. CARA is a cost-effective tool for real-time screening of large volumes of patients and has been cleared for commercialization in the USA, Europe, Canada and multiple other countries. The number of global distributors are growing and this typically leads to revenues and ultimately profits. In particular, the recent news with IRIS The Visual Group, has the potential for rapid North American commercialization.

DIAGNOS trades on a market cap of only C$40 million due to the early stage of commercialization, suitable for investors who are looking for a higher risk and potential high reward stock.




Diagnos’ André Larente on Entering the DACH and Central European Healthcare Market

In a recent InvestorIntel interview, Tracy Weslosky spoke with André Larente President of Diagnos Inc. (TSXV: ADK | OTCQB: DGNOF) about Diagnos’ distribution agreement to enter the healthcare market in both DACH and Central European countries.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Mr. Larente went on to say that the region is a very large market as a large majority of patients suffer from diabetes and hypertension. He also provided an update on a successful Proof-of-Concept pilot study of its stroke predictor (CARA-ST) based on images of the retina. He said that with a 99% success rate, the pilot study was very successful in identifying people at an early stage of being at risk of having a stroke.

To watch the full interview, click here.

About Diagnos Inc.

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).

To learn more about Diagnos Inc., click here

Disclaimer: Diagnos Inc. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp. (IIC) does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation.  Forward-looking statements are based on the opinions and assumptions of management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements.  Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company.  The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on www.sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please email info@investorintel.com.




Expanding globally in the AI image based diagnosis sector, Diagnos is actively commercializing their CARA technology

CARA’s Artificial Intelligence image enhancement algorithms make standard retinal images sharper, clearer and easier to read. CARA is accessible securely over the internet, and is compatible with all recognized image formats and brands of fundus cameras, and is EMR compatible. Targeting the early detection of these diseases by using AI to better examine and diagnose patients as early as possible is the focus for Diagnos Inc. (TSXV: ADK | OTCQB: DGNOF) (‘Diagnos’).

Diagnos uses an Artificial Intelligence (AI) tool known as CARA (Computer Assisted Retina Analysis) to examine patient’s retinas in the eye for the early detection of diseases such as diabetics, hypertension and other cardiovascular disease. CARA is a tele-ophthalmology platform that integrates with existing equipment (hardware and software). CARA’s AI image enhancement algorithms make standard retinal images sharper, clearer and easier to read.

Key winning features of CARA:

  • CARA is accessible securely over the internet and is compatible with all recognized image formats and brands of fundus cameras.
  • CARA is a cost-effective tool for screening large numbers of patients in real-time.
  • CARA complies with local regulations, is FDA cleared for commercialization in the United States of America, is Health Canada licensed for commercialization in Canada, licensed by the Saudi FDA, COFEPRIS in Mexico and is CE marking compliant in Europe.

Diagnos’ AI software enhances the ability to detect early-stage cardiovascular disease by viewing the retina of the eye

Source: www.diagnos.ca/

Diagnos has already had their CARA platform in production since mid-February 2020 and will be following with further applications and enhancements for the technology. Diagnos already operates in 16 countries, 131 screening sites, and has 222,034 patients under their care. The Company is fully funded until about mid 2022 and should continue to grow revenues as their CARA platform commercializes further.

Diagnos operates in 16 countries and has 222,034 patients under care

Source: www.diagnos.ca/

The latest news just the past month shows how quickly Diagnos is commercializing. For example:

  • 24 February, 2021 – Exclusive Strategic Partnership Agreement with Labtician Ophthalmics, a leader in Canadian and International eyecare markets. Labtician Ophthalmics has customers across Canada and will introduce and commercialize Diagnos’ AI platform to monitor ocular health and improve patient care in diabetic patients.
  • 2 February, 2021 – Further deployment of Diagnos’ AI based CARA Technology in Saudi Arabia. Dr. Salman Abdullah Al-Mutairi, Executive Director of Enayah Charitable Association stated:

“For almost three years, Enayah has been using DIAGNOS’ AI based CARA platform successfully to screen thousands of diabetic patients for diabetic retinopathy with an early detection test. By using DIAGNOS’ telemedicine solution we have been able to identify patients needing care early so their vision can be saved. As part of our “Combating Blindness” program, we are extremely pleased to extend this service and add it to other tests in our fleet of vans of Mobile Smart Eye Clinics.”

Closing remarks

Diagnos Inc. is in the early days of commercializing their CARA technology having only begun in mid-February 2020, approximately a year ago. This is good news for investors as the company is trading on a market cap of just C$39 million.

I see (no pun intended) exciting times ahead for this company in a potentially huge market.




Thompson on DIAGNOS and the ‘exploding’ AI healthtech industry

AI Healthcare Provider Diagnos Continues to Sign Deals and Partnerships Amid COVID-19 Crisis

Diagnos Inc. (TSXV: ADK | OTCQB: DGNOF | FSE:4D4A), a software platform provider for the early detection of critical health issues through the use of Artificial Intelligence (“AI”) and Machine Learning (“ML”), continues to sign deals and partnerships amid the current COVID-19 health crisis.

Diagnos’ CARA (“Computer Assisted Retina Analysis”) telemedicine platform, delivers eye care and disease diagnosis through standard fundus photography, which involves photographing the rear of an eye, and Diagnos’ patented image processing and AI analysis.

New 3-Year Agreement with University of Montreal Hospital Centre

On January 19, Diagnos announced a three-year partnership agreement with the Center Hospitalier de l’Université de Montréal (“CHUM”) on AI projects related to the early detection of various retinal diseases.

Since 2018, Diagnos has been working with CHUM and using AI to screen for diabetic retinopathy and added a second screening site in the ophthalmology department in 2019 to help improve the screening process for patients with more serious conditions.

The new 3-year clinical trial aims to validate if the AI algorithm (“NeoRetina”) developed by Diagnos to detect the presence of diabetic retinopathy, can detect this disease and grade its severity by the analysis of fundus photographs when compared with traditional methods.

According to the clinical trial information, more than 10% of the population of Quebec (approximately 900,000 people), suffer from diabetes and around 40% of people with diabetes suffer from diabetic retinopathy.

Retinopathy is any damage to the retina of the eyes, which may cause vision impairment, and early detection and regular check-ups are important in preventing the progression of the disease.

Dr. Fabrice Brunet, President and CEO of CHUM, commented, “We are pleased to be working with Diagnos to bring innovation and excellence in care to patients. The evaluation and refinement of Diagnos technology using artificial intelligence in the early detection of certain diseases by our ophthalmology, endocrinology, and now cardiology teams contribute to improving the quality and safety of the care provided to the population.”

New Clinics in Saudi Arabia and New Rollouts Planned in Second Half of 2021

On January 14, Diagnos announced the opening of five new screening clinics at different locations of Magrabi Hospitals & Centers located in Riyadh, Saudi Arabia, with the help of its Saudi business partner, Kanhoor Medical Co.

Magrabi is a provider of Ears-Nose-and-Throat (“ENT”), Dentistry, and Ophthalmology services with more than 35 locations in the Middle East and North Africa and delivers eye care to more than 1 million patients annually.

After 2 field trials using Diagnos’ AI-assisted screening platform, Magrabi is launching the new locations to increase the availability of the CARA service to its diabetic patients and also to reduce wait times.

The plan between Diagnos, Magrabi, and Kanhoor is to rollout the CARA platform to the remaining 22 Magrabi hospitals in Saudi Arabia in the second half of 2021 and then extend the service to the other Magrabi hospitals in the Middle East and Africa.

Healthcare Diagnosis Market Exploding

According to a 2020 industry report on the Healthcare Diagnosis market, AI in the healthcare diagnosis market was valued at US$3.6 billion in 2019 and is forecasted to reach US$66.8 billion by 2027, growing by a staggering 44% annually.

One of the largest growth segments is AI-assisted diagnostic solutions in areas such as cancer detection, cardiovascular disease, eye care, and radiology.

Worldwide Commercialization

Diagnos currently operates screening sites in 15 countries with certifications from regulatory bodies in various countries including the U.S., Canada, the European Union, and Mexico. In 2020, Diagnos signed partnerships and commercial agreements with companies that serve patients in Canada, Colombia, Guatemala, Mexico, and southern California.

Final Comments

In a recent interview, Andre Larente, CEO of Diagnos, commented that the company is fully funded for the next 18 months and he expects that more existing clients are going to restart their operations soon, which should increase revenue for Diagnos.

In addition, he said the company has a “strong pipeline” that could results in new deal announcements during the year.

Finally, screening for diabetic retinopathy is just one application of Diagnos’ AI technology and the company expects to make announcements with new partners to use the technology to detect other health issues, such as cardiovascular problems, including hypertension.

Meanwhile, even after Diagnos’ recent stock increase, the company’s market capitalization is less than C$43 million. With its recent announcements and rollout trajectory, the low valuation makes it a prime takeover target for any consolidator executing a roll-up strategy in the AI healthtech industry.




Diagnos’ AI Platform to Fight Vision Loss Continues to Expand Globally

Diagnos Inc. (TSXV: ADK | OTCQB: DGNOF) is a software platform provider for the early detection of critical health issues through the use of Artificial Intelligence (“AI”) and Machine Learning (“ML”), and it continues to expand globally with recent deals and government financing support.

Utilizing AI and ML, Diagnos developed a Computer Assisted Retina Analysis (“CARA”) software platform to process image data, making standard retinal images sharper, clearer, and easier to read. This technology assists healthcare specialists in the detection of vision loss, including diabetic retinopathy.

CARA is a teleophthalmology platform, a branch of telemedicine, which delivers eye care through digital medical equipment and telecommunications technology. The CARA platform integrates with various types of existing retinal cameras at the point of care, is compatible with all recognized image formats, and is Electronic Medical Records (“EMR”) compatible.

Digital Health Surging

AI technology is spreading rapidly into various verticals including automotive, healthcare, and pharmaceuticals. According to ABI Research, global AI venture capital investments in the healthcare and pharmaceutical sectors reached $2.4 billion in 2019, up 140%, compared with $1 billion in the prior year.

In the healthcare industry, companies are leveraging AI to overcome human’s lack of ability to detect pertinent details in data from various sources, including photos, microscopic images, X-rays, CT scans, and MRI scans.

During the current COVID-19 health crisis, with shelter-at-home orders, telemedicine and remote monitoring tools have seen a growth in demand as hospitals focus on keeping patients safe while delivering care.

Diagnos Client Signings Continue

Recent client successes have included:

  • Last month, Diagnos announced a contract with Devlyn Grupo, an optical retailer with over 900 stores in Mexico and Guatemala. Devlyn will test the CARA platform for diabetic retinopathy screening at select locations with a planned larger roll out to more stores in early 2021.
  • In September, Diagnos reported that it re-signed a U.S.-based client, Chaparral Medical Group, to another three-year agreement. Chaparral is a 60 physician multi-specialty group serving 23 clinics in Southern California.
  • In July, Diagnos signed a service agreement with the Colombian Telemedicine Centre Ltd (“CTMC”) in Colombia, South America. The CTMC selected the CARA platform to start screening Colombia’s population in conjunction with largest vision specialist center in the country.
  • In June, Diagnos executed an agreement with Labtician Ophthalmics, a Toronto-based surgical eye care products and equipment company with customers across Canada, and Labtician will use Diagnos’AI solution to monitor ocular health in its diabetic patients.

Well Funded for Growth

Diagnos is well funded after raising $2.1M in capital earlier this year and then receiving a $2M, 10-year, interest-free loan from the government of Quebec via the Economic Development Fund to support the commercialization of the CARA platform globally.

The CARA platform is securely accessible over the Internet and Diagnos currently operates screening sites in 15 countries with certifications from regulatory bodies in various countries including the U.S., Canada, the European Union, and Mexico.

Meanwhile, even after Diagnos’ recent stock jump, the Company’s market capitalization is only $32.5M and makes it a prime takeover target for any consolidator executing a roll-up strategy in the healthtech industry.




Drolet Stock Notes on Diagnos: AI driven retina analysis tool for the detection of critical health issues

Mario Drolet, President of MI3 Communications Financières Inc. (MI3), released his Drolet Stock Notes on Diagnos Inc. (TSXV: ADK | OTCQB: DGNOF) on October 7, 2020 for exclusive distribution on InvestorIntel. Highlights include:

  • Diagnos has a mission of early detection of critical health issues using its Artificial Intelligence (“AI”) tool CARA (Computer Assisted Retina Analysis).
  • CARA complies with local regulations, is FDA cleared for commercialization in the United States of America is Health Canada licensed for commercialization in Canada and is CE marking compliant in Europe.
  • Diagnos signed a contract with Devlyn Grupo, an important optical retailer with over nine hundred stores in Mexico and Guatemala.
  • ADK traded over 21 million shares over the last three months between $0.46 & $0.135
  • Support: S2; $ 0.28   S1; $ 0.33   Resistance:   R1; $0.395    R2; $0.46

About Diagnos

Diagnos is a publicly-traded Canadian corporation with a mission of early detection of critical health issues through the use of its Artificial Intelligence (“AI”) tool CARA (Computer Assisted Retina Analysis). CARA is a tele-ophthalmology platform that integrates with existing equipment (hardware and software) and processes at the point of care. CARA’s Artificial Intelligence image enhancement algorithms make standard retinal images sharper, clearer and easier to read. CARA is accessible securely over the internet, and is compatible with all recognized image formats and brands of fundus cameras, and is EMR compatible. CARA is a cost-effective tool for screening large numbers of patients in real-time. CARA complies with local regulations, is FDA cleared for commercialization in the United States of America is Health Canada licensed for commercialization in Canada and is CE marking compliant in Europe.

PLEASE DO YOUR DUE DILIGENCE

Disclaimer: This Mario Drolet Stock Notes are produced by MI³ Communications Financières is neither an offer to sell, nor the solicitation of an offer to buy any of the securities discussed therein. The information contained is prepared by MI3, emanating from sources deemed to be reliable. MI3 Communications Financières makes no representations or warranties with respect to the accuracy, correctness or completeness of such information. MI³ Communications Financières accepts no liability whatsoever for any loss arising from the use of the information contained therein. Please take note that for compliance purposes, all directors, consultants or employees of MI3 Communications Financières are prohibited from trading the securities of the company and MI3 Communications Financières is a shareholder and do not intend to sell any shares during the distribution of this report.