- Cognetivity one of only seven health tech innovators selected to advance to full accelerator program
- Cohorts receive increased resources and network support to accelerate US market penetration
VANCOUVER, BC, Dec. 23, 2020 /CNW/ – Cognetivity Neurosciences Ltd. (the “Company” or “Cognetivity”) (CSE: CGN) (FWB: 1UB) (OTCQB: CGNSF) today announced that it has been selected by the prestigious Texas Medical Center Innovation Accelerator (TMCx) as one of seven members of the 2020 fall cohort. The TMCx is dedicated to identifying breakthrough healthcare technologies and enabling their subsequent commercialization.
The selection is the culmination of a rigorous multi-round selection process. 170 applicants from 20 different countries originally applied, with 21 making it through to the Bootcamp phase and just seven standout healthcare innovators invited to join the full accelerator programme. Cognetivity is the only non-US-based company to join the fall selection.
As a part of the exclusive cohort, Cognetivity will gain access to significant medical networks across the US which are actively looking to advance innovation in order to confront the greatest challenges in healthcare today.
Initial selection phases were based on factors including technological novelty and strength, addressable market size, and overall fit for the TMCx program and partners. The Bootcamp phase allowed Cognetivity to begin exploring commercial opportunities and potential partnerships with TMC’s member institutions and the level of interest and positive feedback received from those institutions was a key factor in the companies chosen to advance.
Notable cohorts from the 2019 fall program included medical imaging platform Arterys which in May, 2020 announced its seventh USFDA approval and $23M in financing bringing its total raised to over $71M.
“Having such immediate access to an engaged network of potential US commercial partners enables companies like ours, with unique technology able to help address a major health crisis, to break through the noise and make meaningful progress quickly.” said Sina Habibi, Cogentivity founder and CEO. “We have been incredibly impressed with the quality of the TMCx program throughout and already have some very exciting partnership opportunities evolving rapidly with some of the TMC members. We look forward to strengthening those relationships and developing further opportunities in the months ahead that build on our early traction in clinical use in the UK NHS.”
Potential savings that could be made through the early and accurate diagnosis of Alzheimer’s have been estimated by the Alzheimer’s Association at up to $7.9 trillion in the US alone. Cognetivity’s novel approach to cognitive testing enables healthcare providers to deliver a highly-sensitive and non-invasive test which can detect the very earliest signs of cognitive impairment. The five minute, iPad or smartphone-administered test, can be taken by patients remotely and requires no medical training or specialist supervision.
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 impairment by testing the performance of large areas of the brain to support diagnosis of dementia. It has achieved regulatory approval for clinical use in the UK and Europe with future clinical approval anticipated in North America and elsewhere in the world.
For more information, please visit: www.cognetivity.com
ON BEHALF OF THE BOARD
Chief Executive Officer and Director
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
The Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Cognetivity Neurosciences Ltd
For further information: Email: firstname.lastname@example.org; For media enquiries contact: Josh Stanbury, Email: email@example.com