Issued on behalf of Avant Technologies Inc.
VANCOUVER – USA News Group News Commentary – The healthcare sector is undergoing a profound transformation, propelled by the rapid evolution of artificial intelligence (AI), which is redefining patient care delivery and enhancing clinical outcomes. AI is enabling a new frontier of tailored healthcare solutions, optimizing diagnostics, drug development, predictive care strategies, and countless other applications. Notably, a recent report revealed that 90% of healthcare executives are witnessing positive returns on investments in generative AI (GenAI), underscoring the technology’s critical role in fostering sustainable industry growth. Pioneers in the field are driving these advancements forward, with recent developments emerging from Avant Technologies, Inc. (OTCQB: AVAI), Roche Holding AG (OTCQX: RHHBY, RHHVF), Recursion Pharmaceuticals, Inc. (NASDAQ: RXRX), Spectral AI, Inc. (NASDAQ: MDAI), Twist Bioscience Corporation (NASDAQ: TWST), and Absci Corporation (NASDAQ: ABSI).
The article continued: At the recent Fortune Brainstorm AI conference held in San Francisco, key leaders in the healthcare industry shared their belief that AI will be a game-changer for the sector. MarketsandMarkets Research analysts project that the global AI in healthcare market will surge to US$164.16 billion by 2030, reflecting a staggering CAGR of 49.1%.
Avant Technologies’ Partner, Ainnova, Signs Pilot Program with Roche to Combat Diabetic Retinopathy
Avant Technologies, Inc. (OTCQB: AVAI), an emerging technology company developing solutions in artificial intelligence in healthcare, recently announced it has entered into a strategic alliance with global biotech giant Roche Holding AG (OTCQX: RHHBY, RHHVF), and leading pre-paid health plan provider Salud 360, to begin a pilot program to combat diabetic retinopathy using cutting-edge technology from Avant’s partner Ainnova Tech, a leading healthcare technology company focused on revolutionizing early disease detection using AI.
Roche, Ainnova, and Salud 360 signed a strategic alliance to improve access to vision screening in patients with uncontrolled diabetes with the hope of decreasing the risks of diabetic retinopathy using Ainnova’s advanced technology and a patient-centered approach.
The pilot program will initially be implemented in Costa Rica where diabetes affects about 10.4% of the adult population. If successful, Avant and Ainnova hope to implement a similar program in the United States, Canada, and Europe through Ai-nova Acquisition Corp. (AAC), the company formed by the partnership between Avant and Ainnova.
“At Roche, we are committed to timely diagnosis of diseases to improve clinical outcomes and thus contribute to the sustainability of the healthcare system,” said, Alvaro Soto, General Manager of Roche Central America, Caribbean, and Venezuela. “By leveraging technology, we seek to improve lives, optimize diagnoses, and ensure that every patient has access to timely and effective treatment. With this model, we not only seek to address the problem of diabetic retinopathy, but also to establish a replicable path for other diseases that require innovative solutions.”
The pilot program will use non-mydriatic fundus cameras and artificial intelligence—developed by Ainnova Tech—to automatically analyze retinal images and identify microscopic changes in the retina. Such changes would be an early indicator of diabetic retinopathy without the need for invasive tests.
By implementing the pilot program in Costa Rica, this strategic alliance can take advantage of the country’s robust healthcare system and its focus on technological innovation. Patients who are members of Salud 360 will be the first to benefit from screenings at affiliated clinics. Those at risk will be referred immediately to ophthalmology specialists, guaranteeing comprehensive and timely care.
The results of this pilot program will be the basis for developing the model beyond borders to benefit communities facing similar challenges in accessing medical care.
“We are proud to be able to put our technology at the service of a project that has the potential to prove itself as a massive impact model in early detection, and which we believe is replicable globally,” said Vinicio Vargas, CEO of Ainnova Tech and member of AAC’s Board of Directors. “Today, we are starting with diabetic retinopathy, but the vision is that we can eventually multiply this same effort for other critical diseases that require innovative solutions.”
According to data from the Costa Rican Institute for Research and Teaching in Nutrition and Health (Inciensa), uncontrolled diabetes is the leading cause of preventable blindness in the country’s adult population. To make matters worse, between 20% and 40% of diabetic patients develop diabetic retinopathy, a silent but devastating condition if not detected and treated in time.
According to the World Health Organization, 80% of cases of blindness due to diabetes are preventable with early and effective interventions. Therefore, early detection is crucial and technological innovation can help make a huge difference.
Prior to the Roche announcement, Avant and Ainnova Tech shared that they are also working on advancing Ainnova’s proprietary low-cost retinal camera, which will be used for fundus photography, and seamlessly packaged together with Ainnova’s Vision AI software platform for commercialization.
CONTINUED… Read this and more news for Avant Technologies Inc. https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
Other recent industry developments and happenings in the market include:
Recursion Pharmaceuticals, Inc. (NASDAQ: RXRX), a clinical stage TechBio company leading the space by decoding biology to radically improve lives through AI-powered innovations, recently reported initial monotherapy dose-escalation data from the Phase 1/2 study (ELUCIDATE) of its precision designed molecule REC-617, a selective CDK7 inhibitor, in advanced solid tumors.
REC-617 is being tested in an ongoing Phase 1/2 study called ELUCIDATE to evaluate its safety and optimal dose in patients with advanced solid tumors. As of November 15, 2024, 18 patients received doses ranging from 2 mg to 20 mg daily or 1 mg twice daily. REC-617 was well-tolerated, with no severe side effects leading to treatment discontinuation and most adverse events being mild (Grade 1-2) and reversible. Although this study focused on safety, one patient with metastatic, platinum-resistant ovarian cancer achieved a confirmed partial response lasting over 6 months, despite prior treatments failing. Additionally, four other patients experienced stable disease for up to 6 months.
“These initial findings for REC-617 represent an exciting step forward in the development of CDK7 inhibitors, with a favorable PK/PD profile and a durable confirmed partial response observed in dose escalation in a highly pre-treated patient population,” said Najat Khan, Ph.D., Chief R&D Officer and Chief Commercial Officer of Recursion. “Designed using our AI-powered OS platform, REC-617 reflects our focus on enhancing the therapeutic index to deliver more effective and safer treatment options for patients. We are eager to continue this momentum in dose escalation and to initiate the next phase of the program next year.”
Spectral AI, Inc. (NASDAQ: MDAI), an AI company focused on revolutionizing medical diagnostics to enable faster, more accurate treatment decisions in wound care, recently announced the completion of enhancements to its technical file to support significant software updates for its DeepView SnapShot® M and DeepView AI-Burn® system in the UK. These upgrades, informed by real-world experience and frontline feedback from clinicians, are designed to enhance product performance and usability in the UK, further solidifying Spectral’s commitment to delivering and commercializing cutting-edge solutions in critical care settings.
“These upgrades reflect our commitment to continuous improvement, ensuring our technologies deliver optimal outcomes for clinicians and patients alike,” said Dr. J. Michael DiMaio, Chairman of the Board at Spectral AI. “As we get additional feedback from real-world usage, we will continue to improve DeepView’s performance and impact on patient care. The feedback from the UK has been extremely encouraging and affirms my belief that DeepView can contribute significantly to enhanced patient care in the UK and other countries.”
Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, and Absci Corporation (NASDAQ: ABSI), a data-first generative AI drug creation company, recently unveiled a collaboration to design a novel therapeutic using generative AI.
“We have been working with Absci for several years and look forward to extending our collaboration beyond a preferred supplier to leverage their AI platform along with Twist’s capabilities to discover antibodies to a key biological target that potentially impacts multiple disease areas,” said Emily M. Leproust, Ph.D., CEO and cofounder of Twist Bioscience.
Absci and Twist Bioscience are teaming up to design a new therapeutic candidate using Absci’s generative AI technology and Twist’s synthetic DNA platform. By combining Absci’s AI-driven antibody design with Twist’s advanced DNA synthesis tools, the program aims to identify and validate promising antibody candidates. The companies plan to partner with a third party for clinical development and commercialization. This collaboration adds to Absci’s growing partnerships with pharmaceutical leaders like AstraZeneca and Merck, while Twist showcases the strength of its SynBio platform, spanning from DNA synthesis to antibody discovery.
“Bringing together two leaders in biotechnology innovation represents an opportunity to accelerate pharmaceutical R&D,” said Sean McClain, Founder and CEO of Absci. “We are excited to strengthen our relationship with Twist and leverage the power of our shared platforms to bring better biologics to patients faster.”
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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