VANCOUVER, May 16, 2018 /CNW/ - Cognetivity Neurosciences Ltd.
(the "Company" or "Cognetivity") (CSE: CGN) (FWB:1UB) today announced that it has won the prestigious AXA Health Tech & You
Challenge in the 'Innovations in the Early Diagnosis of Dementia' category.
Created by AXA PPP Healthcare, part of the AXA Group, a worldwide leader in insurance and asset management with 165,000
employees serving 105 million clients in 64 countries, the Innovations in the Early Diagnosis of Dementia award was run in
partnership with Alzheimer's Research UK. It aimed to identify excellence in design innovation and technology development that
could support the diagnosis of diseases underpinning dementia.
Submissions came from an international field after a comprehensive pursuit for the most innovative new and emerging health
tech. These were then shortlisted into just three technologies per category.
The winning Cognetivity platform involves a 5-minute Integrated Cognitive Assessment test (ICA) that looks for the earliest
signs of impairment by testing the performance of large areas of the brain. The ICA is easy to administer and its Artificial
Intelligence (AI) engine can learn as it gathers new data to improve its ability to diagnose. As well as having the potential to
be a highly effective dementia screening tool, the ICA can also be used for remote monitoring of the progression of diseases and
measuring the effectiveness of treatments.
Cognetivity's CEO and Director, Sina Habibi, said, "We're incredibly proud to have our
technology recognized by AXA Health Tech & You and further validated by the judging panel who included hugely respected
figures who are at the leading-edge of dementia research. We know there is an enormous unmet need globally for a tool able to
provide early diagnosis of cognitive impairment and we believe we are well positioned to meet that demand. Dementia is a very
significant and costly global problem, with 2018 Alzheimer's Association figures stating that accurate early diagnosis could save
up to 7.9 trillion dollars in medical and care costs in the US alone. Early diagnosis of the type
we are working to bring to market can lead to drastically improved patient care and massively improved outcomes for sufferers as
well as the financial benefits for payers. What is vital is that as many people as possible can benefit from the type of
screening that our AI driven ICA platform could provide."
Dementia is the only condition in the top 10 causes of death without a treatment to prevent, cure or slow its progression. The
early detection of dementia, in particular Alzheimer's disease, is a critical unmet need in healthcare, with a recent Alzheimer's
Association report stating that the potential savings to healthcare of early and accurate dementia diagnosis could be as high as
$7.9 trillion in the USA alone. Cognetivity's ICA platform
technology is designed to detect some of the earliest signs of cognitive impairment, such as are present in dementia and other
neurodegenerative disorders.
Today 50 million people have dementia globally, with 10 million additional cases being recorded annually. This equates to a
new case being recorded every three seconds. Currently one out of two sufferers in higher income countries and nine out of 10
cases in lower income countries never receive a formal diagnosis.
About Cognetivity Neurosciences Ltd.
Cognetivity is a technology company developing a cognitive testing platform, the Integrated Cognitive Assessment (ICA) for use
in medical and commercial 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, potentially allowing early
diagnosis of dementia. Cognetivity aims to develop the ICA through planned clinical studies to the market in North America and Europe.
For more information, please visit: www.cognetivity.com
ON BEHALF OF THE BOARD
"Sina
Habibi"
Sina Habibi
Chief Executive Officer and Director
FORWARD LOOKING STATEMENTS:
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
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