Cognetivity chosen out of 800 applicants by Plug and Play and its corporate partners to join latest iteration of world-leading innovation and market access program
VANCOUVER, BC, Sept. 21, 2021 /CNW/ - Cognetivity Neurosciences Ltd. (the "Company" or "Cognetivity") (CSE: CGN) (OTCQB: CGNSF) (FWB: 1UB) today announced that it has been selected to be a part of Plug and Play's prestigious Silicon Valley Health Batch 13 Program.
Plug and Play is an open innovation platform that aims to drive innovation globally by connecting the largest corporations with the world's best start-ups. Its network includes over 500 world-leading corporations, hundreds of venture capital firms, universities and government agencies across multiple industries.
The platform has supported many of the world's biggest start-up success stories in recent years, including unicorns such as Dropbox, Honey, LendingClub and PayPal. It now runs more than 60 stage-agnostic accelerator programs every year out of a global network of locations that features eight hubs in the United States, six in China and three in Japan, as well as centers in Europe, the Middle East, Africa and South America.
Plug and Play's health program focuses on digital health technologies that challenge clinical practices, improve data analytics and enhance the patient journey across the continuum of care. Since its inaugural "batch" in Silicon Valley in 2015, it has accelerated over 300 start-ups in partnership with more than 30 corporations and made over 80 investments.
Many of the best-known companies in the world number among the program's corporate partners. These include Pfizer, Roche, Eli Lilly, Bristol Myers Squibb, Philips and Microsoft, alongside major US and international healthcare providers. Numerous start-ups have been propelled to global success by the program, such as the precision oncology unicorn Guardant Health and the data analytics platform Viewics, which was acquired by Roche in 2017.
Cognetivity was selected to join Health Batch 13 – its latest iteration – following a competitive pitching process in which 800 companies took part, judged not only by the organizers but by a number of the program's corporate partners. Participating in the program will give Cognetivity the opportunity to liaise closely with such partners and explore opportunities for business development and investment, as part of the company's ongoing commercial rollout of its flagship Integrated Cognitive Assessment (ICA).
"We're delighted to welcome Cognetivity into the latest batch of our Silicon Valley health program," said Ava Asgari, Senior Program Manager, Health at Plug and Play. "During the rigorous selection process, both ourselves and our corporate partners were thoroughly impressed by Cognetivity's innovative approach and track record of existing deployments. They are ambitious about tackling a huge global healthcare problem and satisfying the unmet need for high-grade cognitive testing, and we see enormous potential in their offering."
Dr Sina Habibi, CEO of Cognetivity, said: "We're thrilled to be a part of this very highly-regarded program. When you look at the list of start-ups that have benefited from Plug and Play's involvement, you see some of the most impressive companies in the world – it's humbling. The fact that we were selected after such a competitive selection process is a testament to the strength of our technology and the depth of the need we have identified within our target markets."
"This is no ordinary accelerator," Dr Habibi continued. "It is a powerful ecosystem for organizations across a range of different stages to take their commercial plans to the next level in partnership with the biggest firms in the world. I'm confident that this program will generate some very exciting commercial discussions indeed for us and we can't wait to get started."
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 or contact: info@cognetivity.com
ON BEHALF OF THE BOARD
"Sina Habibi"
Sina Habibi
Chief Executive Officer and Director
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SOURCE Cognetivity Neurosciences Ltd
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