DiagnaMed Holdings Acquires Exclusive Rights to a Virtual Reality and Artificial Intelligence-based Neurodiagnostic System for Neurodegenerative Disease

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Exclusive license of intellectual property from the University of Kansas of a proprietary diagnostic tool combining artificial intelligence and virtual reality to assist in the diagnosis of neurological disorders for clinical and telemedicine use

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Enables remote neurological diagnosis on a low-cost, portable virtual reality device that can visualize eye movements in videos and interface with the physician who is in a different location than the patient, which may result in more accurate diagnoses, less time spent on making a correct diagnosis for the physician, and lower transportation costs for patients.

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Initial focus on Parkinson’s disease with top-line results from a pilot study in mid-2023

TORONTO, Nov. 15, 2022 (GLOBE NEWSWIRE) — DiagnaMed Holdings Corp. (“DiagnaMed” or the “Company”) (CSE: DMED), an artificial intelligence-driven digital diagnostics and therapeutics company for brain health, is pleased to announce that it has entered into an exclusive worldwide license agreement with KU Center for Technology Commercialization , Inc., a non-profit corporation of the University of Kansas, for the development and commercialization of intellectual property of a novel virtual reality and artificial intelligence neurodiagnostic system (“VR/AI Neuro”) for the evaluation, diagnosis and monitoring of neurodegenerative diseases, such as Parkinson’s disease.

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Prototype of the VR/AI Neuro System

The VR/AI Neuro system complements and strengthens DiagnaMed’s proposed full-spectrum digital diagnostics brain health solutions, which include BRAIN AGE™ and BrainTremor™, for mental health and neurological disorders. Early and accurate diagnosis is still difficult for neurodegenerative conditions like Parkinson’s disease. Evaluations can be time-consuming, patients must often travel to metropolitan areas or different cities to see experts, and misdiagnosis can result in improper treatment. Only a handful of assistive or remote methods exist to help physicians evaluate patients with suspected neurological diseases conveniently and consistently. The VR/AI Neuro system aims to enable clinical and remote neurological diagnosis on a low-cost, portable virtual reality device that can visualize eye movements in videos and interface with the physician who is in a different location than the patient, which may result in more accurate diagnoses, less time spent on making a correct diagnosis for the physician, and lower transportation costs for patients.

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The VR/AI Neuro system has been in research and co-development for some time by Kansas University Medical Center, Osaka University and Augusta University. It is designed to support the evaluation and diagnosis of neurodegenerative diseases and test its use in a clinical setting. Using a commercially available VR display with an infrared camera integrated into the lens, researchers have constructed a 3D virtual environment designed to emulate common tasks used to evaluate patients, such as fixating on a point, conducting smooth pursuit of an object, or executing saccades. These virtual tasks are designed to elicit eye movements commonly associated with neurodegenerative diseases, such as abnormal saccades, square wave jerks, and ocular tremors. Researchers then conducted experiments with 9 patients diagnosed with Parkinson’s disease and 7 healthy controls to test the VR/AI Neuro system’s potential to emulate tasks for clinical diagnosis. Researchers then applied eye-tracking algorithms and image enhancement to the eye recordings taken during the experiment and conducted a short follow-up study with two physicians for evaluation. Results showed that the VR/AI Neuro system interface could elicit five common types of movements usable for evaluation, physicians could confirm three out of four abnormalities, and visualizations were rated as potentially useful for diagnosis. [1]

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With the success of the proof-of-concept study, the next development stage is to re-implement the tests created in the original research using the updated VR/AI Neuro system and integrate it into a clinical setting with Parkinson’s disease patients with top- line results from the pilot study by mid-2023.

“We are excited to advance the development of a novel virtual reality and artificial intelligence neurodiagnostic system that will aim to change the way neurodegenerative diseases are diagnosed and managed,” said Fabio Chianelli, Chairman of the Board of DiagnaMed. “We are focused on developing and commercializing next-generation digital diagnostic tools for brain health in mental health and neurological disorders. The VR/AI Neuro system complements our product development programs, including BRAIN AGE™ and BrainTremor™, to ensure a full suite of evaluation solutions for healthcare providers to manage their patient’s conditions effectively.”

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Under the terms of the Agreement, DiagnaMed gained exclusive worldwide development and commercial rights to an intellectual property portfolio from KU Center for Technology Commercialization, Inc.

About DiagnaMed Holdings Corp.

DiagnaMed Holdings Corp. (CSE: DMED) is an artificial intelligence-driven digital diagnostics and therapeutics company focusing on improving brain health for mental health and neurodegenerative disorders. The Company is developing BRAIN AGE™, an electroencephalogram-based (EEG) artificial intelligence solution to detect an individual’s brain age for clinical and home use, and BrainTremor™, a wearable device to detect tremors for Parkinson’s disease and essential tremors. Learn more at DiagnaMed.com.

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For more information about DiagnaMed, please contact:

Fabio Chianelli
Chairman of the Board
DiagnaMed Holdings Corp.
Phone: 416-800-2684
Email: info@diagnamed.com

Website: www.diagnamed.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accepted responsibility for the adequacy or accuracy of this release.

Cautionary Statement

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations . The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. 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, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in DiagnaMed’s final prospectus dated October 28, 2022, which is available on the Company’s profile at www.sedar.com. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

Source:

  1. Orlosky, Jason et al. “Emulation of Physician Tasks in Eye-Tracked Virtual Reality for Remote Diagnosis of Neurodegenerative Disease.” IEEE transactions on visualization and computer graphics vol. 23.4 (2017): 1302-1311. doi:10.1109/TVCG.2017.2657018

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/737715b3-ff6e-4e46-b350-7548d60df582

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