Texas Medical Centre innovation program aims to accelerate market access to US healthcare system for visionary medical device and digital health companies
VANCOUVER, BC, Oct. 6, 2020 /CNW/ – Cognetivity Neurosciences Ltd. (the “Company” or “Cognetivity”) (CSE: CGN) (FWB: 1UB) (OTCQB: CGNSF) has been selected to attend the TMCx Fall 2020 Bootcamp as part of the latest iteration of the prestigious TMCx accelerator program run by the Texas Medical Center (TMC) in Houston.
The Innovation team at TMC – the largest medical city in the world – recently announced that Cognetivity was one of 21 start-up companies to have been selected for the bootcamp out of more than 170 applicants from 20 different countries. Medical device and digital health companies from a variety of clinical areas were encouraged to apply, with selection based on factors including technological novelty and strength, market size and overall fit for the TMCx program and partners. Two thirds of the invitees are US-based companies; Cognetivity is one of only five based in Europe.
Taking place virtually (due to Covid-19) throughout October and November, the bootcamp will give Cognetivity and other chosen companies the chance to access commercial opportunities and potential partnerships with TMC’s member institutions. Collectively, these deliver 10 million patient encounters per year and cover 50 million developed square feet, making TMC the eighth largest business district in the US.
“It’s fantastic to be awarded this opportunity by an organisation that is renowned internationally for its approach to medical science and innovation,” said Dr Sina Habibi, CEO of Cognetivity. “The US healthcare market has always been our first international target and this bootcamp offers an excellent means to develop relationships with some of the country’s leading healthcare institutions.”
“Where could be better to further our plans to revolutionise global dementia diagnosis than the world’s largest medical complex, in a country where it has been identified that up to $7.9 trillion could be saved through the early and accurate diagnosis of Alzheimer’s?”
“In light of the key areas of consideration for the selection panel,” Dr Habibi added, “this news also brings further validation from the scientific and medical community of our novel approach to cognitive testing, the strength of our clinical data and the magnitude of our target market.”
Furthermore, the Company issued 50,000 common shares at a price of $0.285 per common share to a consultant for services provided to the Company. The common shares are subject to a statutory four-month hold period in accordance with applicable securities laws.
The Company also granted 518,000 stock options to employees of the Company exercisable at a price of $0.285 per common share for a period of 5 years from the date of grant.
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
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SOURCE Cognetivity Neurosciences Ltd
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