"PredictMedix Partners With Versus Systems to Develop Tools for Clinical Trials"
TORONTO, ON / ACCESSWIRE / October 1, 2020 / PredictMedix Inc. (CSE:PMED)(OTCQB:PMEDF) ("PredictMedix" or the "Company") is pleased to announce that the company is partnering with Versus Systems, Inc. ("Versus") (CSE:VS) (CSE:VS.CN) (OTCQB:VRSSF) (FRANKFURT:BMVA) to bring tools for clinical trials to the market. PredictMedix and Versus have executed a letter of intent on September 29 which will be replaced with a definitive agreement outlining the business terms within the next 4-6 weeks.
PredictMedix will be working with Versus to integrate Versus' proprietary rewards platform with it's proprietary remote patient monitoring platform to the healthcare vertical - allowing healthcare providers, Contract Research Organizations (CROs), and life science companies to use rewards to recruit and retain a broader range of patients, and to promote compliance in testing medical therapies. This will allow PredictMedix to enter a new industry vertical of clinical trials which is a $40 billion market opportunity as estimated by Fortune Business Insights (
https://www.fortunebusinessinsights.com/industry-reports/contract-research-organization-cro-services-market-100864).
Clinical trials traditionally require on-site monitoring to ensure human subject protection, data integrity, and quality. During the current pandemic, however, clinical research sites have reduced and restricted on-site monitoring. Travel restrictions and the safety issues further compound the challenges of monitoring on-site.
The FDA guidance for conducting clinical trials during COVID-19 restrictions supports remote monitoring for oversight of clinical sites (Source: FDA Guidance on Conduct of Clinical Trials of Medical Products during COVID-19 Public Health Emergency, March 2020)
While every drug is unique, there are some foundational principles to measuring efficacy. Irrespective of the health condition being targeted in a clinical trial, vitals measurements are key to evaluating drug performance. PredictMedix remote patient monitoring platform monitors for vitals including heart rate, respiratory rate, blood pressure and temperature, which are foundational to physiological changes that may become issues. Problems including adverse effects typically show up in vitals first. And when multiple vitals are correlated using accurate, continuous data, one can start analyzing and predicting certain chronic conditions.
"One of the issues with remote patient monitoring is the lack of incentives for participants to actively participate in remote patient monitoring. The partnership with Versus allows us to leverage their rewards platform to offer incentives to research participants to engage in remote patient monitoring on a regular basis," said Dr. Rahul Kushwah, COO of PredictMedix Inc.
About PredictMedix Inc.PredictMedix Inc. is an artificial intelligence ("AI") company developing disruptive tools for impairment testing and healthcare. It is intended that the Company's cannabis and alcohol impairment detection tools will be used across various workplaces and by law enforcement agents. Its technology uses facial and voice recognition to identify both cannabis and alcohol impairment by utilizing multiple features along with numerous different data points. Testing does not require any body fluids or human intervention, thereby helping to remove human error and the potential for discrimination and prejudice. The Company is also developing AI based screening for the healthcare industry. The recent advent of COVID-19 pandemic has placed unprecedented stress on the global economy and highlights the need for tools to help screen mass populations for infectious diseases, with the hope of preventing pandemics in the future. In turn, PredictMedix Inc. is expanding its proprietary AI technology to screen for infectious disease symptoms.
Additionally, psychiatric disorders such as depression, dementia and Alzheimer's disease can carry a significant burden and early identification is the key to better management. To help address this, the Company is also expanding its proprietary AI technology to screen for psychiatric and/or brain disorders such as depression, dementia and Alzheimer's disease. To find out more visit us at
www.predictmedix.com Disclaimer: "The Company is not making any express or implied claims that its product has the ability to diagnose, eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time."
For further information, please contact: Dr. Rahul Kushwah
Chief Operating Officer
Tel: 647 889-6916
Email:
rahul@predictmedix.com About Versus Systems Versus Systems, Inc. has developed a proprietary in-game prizing and promotions engine that allows game publishers and developers to offer in-game and in-app prizing across mobile, console, PC games, and streaming media. Brands pay to place products in-game and gamers compete for those prizes. For more information, please visit
www.versussystems.com or visit the official Versus Systems
YouTube channel.