InvestorNews is hosting an InvestorTalk this morning with André Larente, CEO, President, and Director from DIAGNOS Inc. (TSXV: ADK | OTCQB: DGNOF) at 9 AM EST. To participate in the InvestorTalk, please click here

DIAGNOS has 76,648,586 shares outstanding and a market cap of CAD$22,994,576.

In preparing for this morning’s InvestorTalk here are the latest news releases for your review:

• April 16, 2024 — DIAGNOS to expedite application for Medical Device License to Health Canada and US FDA related to its 4 new analysis modules, and is planning ISO 27001 certification — click here
• April 9, 2024 — DIAGNOS Inc. to Present at the Technology Hybrid Investor Conference April 11th — click here
• April 2, 2024 — DIAGNOS Welcomes Dr. Philippe Couillard to its Board of Directors — click here

5-Data Points from the most recent news release:

1. Approval Process: Diagnos Inc. is working to obtain Health Canada and U.S. FDA approvals for four additional AI analysis modules, with plans to commercialize these during Q3 2024.
2. Module Functions: The new AI modules are designed to assist healthcare professionals in identifying abnormal Optical Coherence Tomography (OCT) retinal images and in grading Fundus images for signs of AMD (Age-Related Macular Degeneration), DR (Diabetic Retinopathy), and HR (Hypertensive Retinopathy).
3. Impact on Revenue and Distribution: The modernization of Diagnos’ Health Canada license is seen as essential for distribution partnerships, including with Essilor Luxottica for the Canadian market, and for potential expansion into the U.S. market. This expansion is expected to accelerate revenue growth for Diagnos.
4. ISO 27001 Certification: Diagnos is also progressing towards obtaining ISO 27001 Cyber Security certification, which is a requirement from current and prospective customers to enhance data security.
5. Company Background and AI Platform: Diagnos is a publicly traded company on the TSX Venture Exchange and the OTCQB. It specializes in early detection of critical health issues using its FLAIRE AI platform, which supports the development and application of AI technologies such as CARA (Computer Assisted Retina Analysis) for enhanced retinal image analysis.

(04.24.2024 – Premarket, Source)

The last InvestorNews Interview was on December 14, 2023, and was titled: Andre Larente from DIAGNOS on Deal with World’s Largest Eyecare Retailer EssilorLuxottica

InvestorNews host Tracy Weslosky recently conducted an insightful interview with André Larente, President and Director of DIAGNOS Inc. (TSXV: ADK | OTCQB: DGNOF), to discuss the company’s exclusive distribution agreement with EssilorLuxottica. DIAGNOS, known for its pioneering FLAIRE platform based on Artificial Intelligence (AI), has solidified its position as a leading provider of retinal analysis technology through this partnership. This agreement, announced on December 11th, is a significant milestone for DIAGNOS, signaling its growing influence in the AI and healthcare technical services sector.

During the interview, Larente highlighted the capabilities of DIAGNOS’ AI-powered retinal image analysis technology, which has been acclaimed for its role in the early detection of various eye conditions. This breakthrough technology not only enhances the quality of eye health care but also significantly impacts patient lives positively. The partnership with EssilorLuxottica, a global leader in vision care with an $87Bn market cap, is set for an initial three-year term with potential for renewal.

Under the agreement, DIAGNOS will be compensated on a per patient exam basis across EssilorLuxottica’s client network. Larente expressed his pride in the partnership, emphasizing the pivotal role it plays in DIAGNOS’ mission to broaden the accessibility of its retinal analysis technology. This collaboration is expected to contribute significantly to visual health in Canada and potentially the USA. Both DIAGNOS and EssilorLuxottica are committed to advancing eye health and technology, with a focus on offering innovative solutions to optometrists that will transform the early detection and quality of eye care in the region.

In summary, DIAGNOS’ exclusive distribution agreement with EssilorLuxottica marks a key development in its journey, reinforcing its commitment to revolutionizing eye health care through advanced AI-based technologies. This collaboration is set to make a profound impact on the early detection and treatment of eye conditions, benefiting a wide range of patients and healthcare providers.

To access the complete interview, click here

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About DIAGNOS Inc.
DIAGNOS is a publicly traded Canadian corporation dedicated to early detection of critical health problems based on its FLAIRE Artificial Intelligence (AI) platform. FLAIRE allows for quick modifying and developing of applications such as CARA (Computer Assisted Retina Analysis). CARA’s 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.

To learn more about DIAGNOS Inc., click here

Disclaimer: DIAGNOS Inc. is an advertorial member of InvestorNews Inc.

This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This interview and any transcriptions or reproductions thereof (collectively, this “presentation”) does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase any securities in the Company. The information in this presentation is provided for informational purposes only and may be subject to updating, completion or revision, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any information herein. 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 the 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. This presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisors. Each person to whom this presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. Prospective investors are urged to review the Company’s profile on SedarPlus.ca and to carry out independent investigations in order to determine their interest in investing in the Company.

DIAGNOS Inc. (TSXV: ADK | OTCQB: DGNOF), a company we have followed for several years out of Montreal, announced a landmark move for the Canadian healthcare sector this morning. DIAGNOS Inc., a pioneer in artificial intelligence (AI)-driven health solutions, has announced a significant distribution agreement with global ophthalmic leader EssilorLuxottica. This exclusive Canadian contract, unveiled on December 11, 2023, signifies a pivotal moment for DIAGNOS, cementing its place in the market with its cutting-edge retinal analysis technology.

Renowned for its effectiveness in the early detection of eye conditions, DIAGNOS’s technology will now reach a broader audience through EssilorLuxottica’s expansive network, promising an enhancement in the quality of eye health care. The three-year agreement, which includes a renewal option, entails a per-patient exam payment model to DIAGNOS. André Larente, DIAGNOS’ President, highlighted this partnership’s role in broadening the accessibility of their innovative technology, aligning with their mission to foster visual health in Canada and globally.

Market Watch: Global and US Economic Indicators

As the business day commences, futures indicate a downtrend, shadowing a dip in commodities like oil and gold. In the U.S., we are awaiting the Federal Reserve’s monetary policy meeting and upcoming inflation data, which will shed light on the possibility of a soft landing for the economy. European shares are also experiencing a downturn, while Japan’s Nikkei has seen a rebound. The U.S. dollar is gaining strength against the Japanese yen.

U.S. Central Bank’s Interest Rate Decision

The U.S. Federal Reserve is set to release its interest rate decision on Wednesday, following last month’s unchanged benchmark rate. Wall Street is increasingly optimistic about maintaining the status quo in December, as efforts to curb inflation without triggering a recession seem fruitful.

In recent global and U.S. economic updates, the market is witnessing a downward trend in futures, mirroring declines in commodities such as oil and gold. Investors in the U.S. are particularly focused on the upcoming Federal Reserve’s monetary policy meeting and the release of inflation data, which are crucial in assessing the prospects of a soft economic landing. Meanwhile, European shares are experiencing a downturn, in contrast to Japan’s Nikkei which has shown a rebound. The U.S. dollar is strengthening against the Japanese yen.

The U.S. Federal Reserve is poised to announce its decision on interest rates this Wednesday, following a period of unchanged rates. There’s a growing sentiment on Wall Street that the Fed might maintain the current rates in December, buoyed by successful measures to control inflation without pushing the economy into recession.

Some Business News Highlights:

• In corporate developments, French AI company Mistral AI, founded by ex-employees of Meta and Google, has raised €385 million in a second funding round, marking a significant milestone. This funding, led by investors such as Andreessen-Horowitz and LightSpeed Ventures, positions Mistral AI as a key player in the global AI landscape. The company also launched Mixtral 8x7B, an AI platform intended to compete with leading AI platforms like OpenAI’s ChatGPT and Google’s Bard.
• In the healthcare sector, U.S. insurer Cigna (NYSE: CI) has ended its merger talks with Humana Inc. (NYSE: HUM), citing price disagreements, and instead announced a significant $10 billion share buyback plan. This development follows several years after regulatory interventions blocked major consolidations in the health insurance sector.
• In the tech industry, NVIDIA Corporation (NASDAQ: NVDA) is expanding its footprint in Vietnam, partnering with leading tech companies in the country. This expansion, announced by NVIDIA’s CEO, focuses on AI and digital infrastructure, aligning with Vietnam’s ambitions to advance in chip design and manufacturing, especially in the context of ongoing U.S.-China trade tensions.
• In the energy sector, Occidental Petroleum Corp. (NYSE: OXY) has confirmed its acquisition of CrownRock, an energy producer in the Permian basin, in a $12 billion deal. This acquisition is a strategic move for Occidental’s growth in the energy sector.
• TC Energy Corp.’s (TSX: TRP | NYSE: TRP) Coastal GasLink project is currently facing legal challenges due to construction delays, which could significantly impact its financial liabilities. This comes as the C$14.5 billion project was completed at over double its initial budget.
• In corporate leadership news, Tellurian Inc. (NYSE American: TELL) has announced a major change by removing its chairman and co-founder, Charif Souki, from his executive role. This change is part of the company’s strategy to improve its prospects, particularly focusing on its Driftwood LNG project.
• Tesla Inc. (NASDAQ: TSLA) is under pressure from Nordic pension funds to respect collective bargaining rights for its employees. Concurrently, the company is defending its use of “Autopilot” and “self-driving” terminology amid regulatory examination in California.

Globally, the Middle East continues to experience intense conflict with no resolution in sight. The UK’s manufacturing sector is showing signs of recovery, which could bolster the sector in the coming year. UK Prime Minister Rishi Sunak faces a critical week with a COVID-19 inquiry and a key parliamentary vote on asylum policy. The EU has reached a provisional deal on AI regulation, which includes governing biometric surveillance. Bosch is adapting to changing auto sector demands, leading to significant job cuts. Signa Development Finance’s potential insolvency proceedings highlight ongoing market challenges. Lastly, BP Plc’s Bilbao Plant sale to Gunvor reflects BP’s strategic transformation and commitment to becoming a net-zero company.

We kicked off our morning by tweeting our Top 10 Trending columns and videos for the last week that we encourage you to review:

1. Top 10 Trending on #InvestorNews, in the #1 Position, READ: #TechnologyMetals Week-in-Review: The British Stake Claim in #Quebec and the #Uranium Boom in North America https://bit.ly/47jhbmH cc: @IN8News @Energy_Fuels @F3Uranium @Ucore @FirstPhosphate @CriticalMnlInst #criticalminerals
2. Top 10 Trending on #InvestorNews, in the #2 Position, READ: The #CriticalMineralsInstitute Report (CMI 11.2023): #Neodymium price is down 33% over the Past Year, Record Plug-In #EV Car Sales for September https://bit.ly/3QV2dfE cc: @IN8News #RareEarths #Lithium #ElectricVehicles @CriticalMnlInst #criticalminerals
3. Top 10 Trending on #InvestorNews, in the #3 Position, READ: Harris Administration’s $3.5 Billion Investment in U.S. #Battery Manufacturing and #CleanEnergy Transition https://bit.ly/46hagJe cc: @IN8News #criticalminerals #Biden @CriticalMetals_ @CriticalMnlInst
4. Top 10 Trending on #InvestorNews, in the #4 Position, READ: Update on the #Teck and #Glencore deal: “Never Fear, the Feds are Here” https://bit.ly/4a1fUlR cc: @IN8News #MetallurgicalCoal @TeckResources @Glencore
5. Top 10 Trending on #InvestorNews, in the #5 Position, READ: Exploring the Future of #Battery Technology and #CriticalMinerals https://bit.ly/3G4HSQ1 cc: @IN8News @CriticalMnlInst @FirstPhosphate
6. Top 10 Trending on #InvestorNews, in the #6 Position, WATCH: Progress in #Pathogen Defense, Dr. Carolyn Myers Discusses #FendX’s Collaboration with Dunmore for #REPELWRAP™ https://youtu.be/rLDSZ8KMBqs via @YouTube #Nanotechnology #PathogenRepellent #VirusRepellent #DiseaseControl @FendXTech $FNDX.C $FDXTF
7. Top 10 Trending on #InvestorNews, in the #7 Position, WATCH: Greg Fenton on how #Zentek’s Advancement in #Aptamer Technology is Revolutionizing #Biotech https://youtu.be/LJrNda7ZHRQ via @YouTube #PathogenDetection #ZenGUARD #HVACFilters @ZentekLtd $ZTEK $ZEN.V
8. Top 10 Trending on #InvestorNews, in the #8 Position, WATCH Jack Lifton interviews Mark Chalmers on #EnergyFuels Strategic Path to Dominance in the North American #RareEarths Market https://youtu.be/a1xrRJB5hAw via @YouTube #Uranium #cirticalminerals @Energy_Fuels $UUUU $EFR
9. Top 10 Trending on #InvestorNews, in the #9 Position, WATCH: Terry Lynch on @PowerNickel’s collaboration with #CVMR Corporation for developing Canada’s first #CarbonNeutral #Nickel mine https://youtu.be/xOtY6U7ovRE via @YouTube #CriticalMinerals #BatteryMetals $PNPN.V $PNPNF @terrybali
10. Top 10 Trending on #InvestorNews, in the #10 Position, READ: Who might follow #PatriotBattery Metals #lithium exploration success in Canada in 2024? https://bit.ly/48fFh1P via @YouTube #criticalminerals @BrunswickExplo1 @WinsomeRes

Is Artificial Intelligence (AI) going to save the world? Likely not if you are a fan of the Terminator series made famous by Arnold Schwarzenegger or the Dune novels written by Frank Herbert, amongst other potential humanity ending scenarios. But until AI becomes self-aware, there is certainly a lot of good the data processing and analysis tools provided through machine learning can do to help humanity achieve significant improvements to our health and well-being until we all become slaves to our computer overlords.

One publicly traded company using AI that doesn’t already have a Trillion dollar market cap is DIAGNOS Inc. (TSXV: ADK | OTCQB: DGNOF). DIAGNOS is a Canadian corporation dedicated to the early detection of critical health problems based on its FLAIRE Artificial Intelligence (AI) platform. FLAIRE allows for quick modifying and developing of applications such as CARA (Computer Assisted Retina Analysis). CARA’s 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).

DIAGNOS primarily markets CARA as a software platform which assists health specialists in the detection of diabetic retinopathy. Diabetic retinopathy (also referred to as macular edema) is a diabetes complication that affects the eyes. It’s caused by damage to the blood vessels of the light-sensitive tissue at the back of the eye (retina). At first, diabetic retinopathy might cause no symptoms or only mild vision problems, but it can lead to blindness. The condition can develop in anyone who has type 1 or type 2 diabetes.

A patient may experience no symptoms of diabetic retinopathy until the condition becomes severe. Early detection and treatment can prevent 85% to 95% of blindness cases. Thus it makes a lot of sense that everyone with diabetes gets screened for diabetic retinopathy at least once a year due to the fact that it is estimated that up to 347,000 people every year could go blind from a curable disease if they aren’t screened early enough. This seems like a very good use of AI for the betterment (and not enslavement) of humanity.

In February, DIAGNOS and École de Technologie Supérieure (ÉTS), a world-renowned technical university announced that they would be presenting the results of their ground-breaking research on mass screening for macular edema using Optical Coherence Tomography (OCT) at ARVO 2023, the Annual Conference of the Association for Research in Vision and Ophthalmology (ARVO). The screening process for macular edema has been revolutionized by the research carried out by DIAGNOS and ÉTS, resulting in impressive efficiency of algorithms, fidelity of the “heat map” type decision-making tool, and an extremely low rate of “false positives.” It is anticipated that DIAGNOS’ AI-enabled screening process could become the go-to method adopted by healthcare professionals in the future.

I’m not worried about the AI being deployed by DIAGNOS taking over the world anytime soon. However, I am excited to see where this Company goes next. I can’t help but think it’s a good thing to become the de facto tool for early detection of preventable blindness in diabetes patients. That’s got to be worth something. But there’s also the springboard of having a successful platform in place to build off of. Time will tell if this AI story starts making headlines with all the rest of them out there.

DIAGNOS Inc. trades at a market cap of C$35 million.

Using Artificial Intelligence (AI) to better image and analyze the retina of the eye to detect early stage disease is a potential game changer in the prevention of blindness and cardiovascular diseases such as stroke, heart attack, and diabetic related disease.

Today’s company is pioneering its work in this field with USA clinical trials commencing soon and a global commercialization rollout already underway. The company is Diagnos Inc. (TSXV: ADK | OTCQB: DGNOF) (“DIAGNOS”).

DIAGNOS has developed an Artificial Intelligence (AI) tele-ophthalmology platform, which uses Computer Assisted Retina Analysis (CARA) to examine a patient’s retina (back of the eye) for the early detection of diseases, such as diabetes, and conditions such as cardiovascular disease, hypertension and stroke. CARA’s image enhancement algorithms provide sharper, clearer and, thus, easier-to-analyze retinal images.

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, with 131 screening sites, has 222,034 patients under their care, and has performed more than 400,000 retinographies around the world. DIAGNOS’ CARA achieves great precision in diabetic retinopathy pre-diagnoses, reaching a sensitivity of 98.4%, specificity of 97.6% and a certainty of 97.9%.

DIAGNOS uses an AI technology know as CARA to better analyze the retina of the eye, a key way to detect early cardiovascular disease

Source: DIAGNOS website

DIAGNOS achieves two firsts and an eight at the GAMMA (Glaucoma grAding from Multi-Modality imAges) contest

At the recent GAMMA competition, DIAGNOS achieved some stunning results including two firsts and an eighth place out of a total of 566 teams. Now that’s super impressive!

The October 28, 2021 announcement stated: “DIAGNOS was the only one, of the top 8 teams, that competed with a marketed, commercialized system. DIAGNOS used the same platform that it currently uses for diabetic retinopathy screening, which is marketed worldwide, while the others were principally from academic institutions.”

Key results included:

• Localization of macula fovea in fundus images. (DIAGNOS placed 1^st overall)
• Segmentation of optic disc and cup in fundus images. (DIAGNOS placed 1^st overall)
• Grading glaucoma using multi-modality data. (DIAGNOS placed 8^th overall)

USA clinical trial for the early detection and prevention of stroke using CARA-STROKE

On November 23 DIAGNOS announced: “DIAGNOS will start a clinical trial study in the USA commencing December 6th, 2021 for early detection and prevention of stroke using CARA-STROKE.” The trial aims to confirm early Proof-of-Concept results that showed a strong potential in the early detection of stroke through the inspection and micro circulation analysis of the retina.

The upcoming USA clinic trial at the CommonSpirit Health Research Institute, Chattanooga Center for Neurologic Research LLC, is intended to further prove the effectiveness of DIAGNOS’s CARA technology.

Note: CommonSpirit Health is a non-profit national Catholic healthcare system that operates 137 hospitals and more than 1,000 care sites across 21 states of the USA.

Some facts about cardiovascular disease including stroke

• Stroke causes 1 out of every 20 deaths.
• The management of stroke represents a cost of around US$34 billion per year in the United States.
• According to the WHO, 15 million people suffer a stroke worldwide each year. Of these, 5 million die and another 5 million are permanently disabled.
• Europe averages approximately 650,000 stroke related deaths each year.
• Worldwide Research Institutes says that the worldwide market size for stroke management will hit over $66 billion by 2023.

Source: DIAGNOS announcement

Clearly, the above facts speak volumes as to the need to diagnose cardiovascular disease early. And that is exactly what DIAGNOS does.

Not just an idea, commercialization has begun

As previously discussed in some detail here, DIAGNOS commercialization is gaining momentum. Some examples include:

• July 22, 2021 – DIAGNOS announced the official opening of the AI Assisted screening clinic at Magrabi Hospital in Saudi Arabia. Magrabi Hospitals and Centers has thirty-four branches in the Middle East.
• July 28, 2021 – DIAGNOS announced a pilot in Spain with three franchisees from Opticalia Group.
• August 16, 2021 – DIAGNOS announced signing a Memorandum of Understanding (MoU) for a distribution agreement with Essilor International. Essilor International is the world’s leading ophthalmic optics company.
• September 2, 2021 – DIAGNOS announced a three-year contract renewal with Optina Diagnostics providing a Telemedicine Platform to support their early detection of Alzheimer’s Disease.
• September 14, 2021 – DIAGNOS announced a 3-year contract with Cielo Vista Eye Clinic in Mexico.
• September 16, 2021 – DIAGNOS announced a multi-year contract with Juarez Health & Medical Tourism Cluster in Mexico, who focuses on medical tourism and serves between 10-12,000 patients a day.

Closing remarks

DIAGNOS’s CARA technology is clearly a winner. It has already won numerous global contracts and the recent GAMMA competition. Any potentially positive results from the upcoming CommonSpirit Health Research Institute clinical trial would just be icing on the cake.

With 15 million people suffering a stroke worldwide each year the time has come for better early diagnosis to allow earlier treatment and prevention, potentially reducing this terrible statistic.

Diagnos Inc. trades on a market cap of just C$30 million which seems very small when compared to the massive market for cardiovascular disease diagnosis. One to follow closely in the years ahead.

The best time to buy an emerging company is when it begins commercialization. At this stage all the hard years of product development and certification are done and, if successful, the revenues are about to flow. Today’s company looks to be in just that stage.

Diagnos Inc. (TSXV: ADK | OTCQB: DGNOF) (“DIAGNOS”) has developed its FLAIRE Artificial Intelligence (AI) tele-ophthalmology platform, which uses Computer Assisted Retina Analysis (CARA) to examine a patient’s retinas in their eyes for the early detection of diseases, such as diabetes, and of conditions such as cardiac hypertension and stroke. CARA’s image enhancement algorithms provide sharper, clearer and easier-to-analyze retinal images.

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, has 222,034 patients under their care, and has performed more than 400,000 retinographies around the world. DIAGNOS’ CARA achieves great precision of diabetic retinopathy pre-diagnoses, reaching a sensitivity of 98.4%, specificity of 97.6% and a certainty of 97.9%.

DIAGNOS has a significant and growing global business

Source: DIAGNOS website

DIAGNOS commercialization is gaining momentum

The following recent news items give a feel for how fast DIAGNOS is moving in their global rollout:

• July 22, 2021 – DIAGNOS announced the official opening of the AI Assisted screening clinic at Magrabi Hospital in Saudi Arabia. In the country the incidence of diabetes is about 27% of the population, hence the clinic hopes to play a key role in the diagnosis of diabetic retinopathy which can lead to gradual complete loss of vision. Magrabi Hospitals and Centers has thirty-four branches in the Middle East. DIAGNOS President, André Larente, stated: “We extend our best wishes to Magrabi hospitals. We would also like to thank everyone in attendance for their time and efforts in making this project a reality. The main beneficiaries will be many thousands of diabetic patients whose vision can now be protected through this collaboration.”
• July 28, 2021 – DIAGNOS announced a pilot in Spain with three franchisees from Opticalia Group.
• August 16, 2021 – DIAGNOS announced signing a Memorandum of Understanding (MoU) with Essilor International. The MoU is non-binding and forms the basis of a potential distribution agreement with Essilor International for DIAGNOS’ CARA platform. Essilor International is the world’s leading ophthalmic optics company. Essilor designs, manufactures and markets a wide range of lenses and diagnostic ophthalmic instruments. DIAGNOS President Larente commented: “DIAGNOS is focused on its commercialization strategy and pursuing opportunities with potential partners. We are very pleased that our AI-based technology has attracted the attention of global eyecare sector leaders such as Essilor International and we are looking forward to our discussions with respect to a mutually beneficial potential worldwide distribution agreement.”
• September 2, 2021 – DIAGNOS announced a three-year contract renewal with Optina Diagnostics providing a Telemedicine Platform to support their early detection of Alzheimer’s Disease.
• September 14, 2021 – DIAGNOS announced a 3-year contract with Cielo Vista Eye Clinic in Mexico. DIAGNOS will supply its CARA platform and enable Cielo to screen its patients for Diabetic Macular Edema and Diabetic Retinopathy.
• September 16, 2021 – DIAGNOS announced a multi-year contract with Juarez Health & Medical Tourism Cluster in Mexico. The Cluster is the only certified health network in the country of Mexico, focuses on medical tourism, and serves between 10-12,000 patients a day.

Magrabi Hospitals launches initiative for early screening for diabetic retinopathy using DIAGNOS’s CARA platform in Saudi Arabia

Source: Diagnos Inc.

Other earlier commercialization deals have been done with Óptica Central (third largest optical retailer in Costa Rica), a distribution agreement in Europe with Diagnos Europe GmbH, and IRIS The Visual Group Inc. (Canada) including the New Look Vision network (North America).

Revenues forecast to soar from now to 2023

As you can see just from the recent news above, DIAGNOS is having significant success in commercializing its products globally. As a result of this, revenue is forecast to increase dramatically from C$270,000 in 2021 to C$800,000 in 2022, and C$7,920,000 in 2023. If achieved the Company is forecast to be profitable and trade on a forecast 2023 PE of 16.0.

Closing remarks

DIAGNOS Inc. trades on a current market cap of C$33 million. Global commercialization of their FLAIRE/CARA ophthalmology platform is clearly gaining momentum which should lead to rapidly growing revenues. The medical technology space can exhibit rapid growth once a new technology gains market share or becomes a leader. Stay tuned.

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.

• Diagnos’ Andre Larente on the benefits of using AI for the early detection of critical health issues (video)

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.