Diagnos Inc. (“
DIAGNOS” or the
“
Company”) (TSX Venture: ADK) (OTCQB: DGNOF), a
leader in early detection of critical health issues based on
Artificial Intelligence, is pleased to provide a corporate update
on its major activities from 2021 operations. DIAGNOS would like to
share some of the highlights and successes achieved this past year
and also provide some insight into what we are working on for the
upcoming year. Although COVID has presented many challenges for the
Company, DIAGNOS was able to adjust and address a new Optometry
market. The Company believes that the existing Government and
Hospital clients should restart their coverage of diabetic patients
this year.
2021 was an exciting year of accomplishment for
DIAGNOS in terms of new customers and prospects.
On December 06, 2021, DIAGNOS began a clinical
trial study with CommonSpirit Health Research Institute,
Chattanooga Center for Neurologic Research LLC and conducted at the
CommonSpirit Hospital in Chattanooga, to confirm early
Proof-of-Concept results that showed a strong potential in the
early detection of stroke through the inspection and analysis of
the retina, as mentioned in its press release dated 2021-07-20. As
per CDC-The Center for Disease Control and Prevention, stroke
causes 1 out of every 20 deaths, the management of stroke
represents a cost of around USD 34 billion per
year in the United States. Hence, early diagnosis and treatment to
prevent deaths from stroke is a time sensitive necessity. DIAGNOS’
clinical trials are proceeding well.
DIAGNOS, in September 2021 (see press release
2021-09-02), announced a contract renewal to provide its
telemedicine platform based on CARA (Computer Assisted Retina
Analysis) to Optina Diagnostics (“Optina”) for an additional
three-year period. Optina uses DIAGNOS’ Cloud platform to upload
images generated by the Optina-4CTM hyperspectral camera to be used
with their awAIrTM Cerebral Amyloid Status test (for Research Use
Only). Using the DIAGNOS Cloud platform, the Optina’s proprietary
retinal images are processed, securely stored, and available to be
shared and reviewed by healthcare professionals and clinics in
various locations around the world. Optina benefits from the high
throughput of the DIAGNOS Cloud platform as well as the ease of use
of the teleophthalmology platform currently used by doctors and
other medical professionals.
On August 16th 2021, (see press release
2021-08-16) DIAGNOS entered into a Memorandum of Understanding
(MoU) with the Instruments division of Essilor International, a
subsidiary of Essilor Luxottica. Essilor International is the
world’s leading ophthalmic optics company. Essilor designs,
manufactures and markets a wide range of lenses and diagnostic
ophthalmic instruments. This MoU forms the basis of a potential
distribution agreement with Essilor International for DIAGNOS’ next
generation platform for the AI-enhanced analysis of wide-field
retinal images, as well as of certain specified future developments
of the CARA platform for a variety of applications. Discussions are
ongoing.
During 2021, EssilorLuxottica completed the
acquisition and integration of GrandVision with its 37,000
employees and operations in over 40 countries. EssilorLuxottica’s
retail network now counts around 18,000 stores.
DIAGNOS announced on July 22nd 2021 (see press
release 2021-07-22) the opening of five screening clinics at
various locations of Magrabi Hospital & Centers (“Magrabi”)
located in Riyadh, with the help of its Saudi business partner,
Kanhoor Medical Co. (“Kanhoor”). Magrabi is one of the largest eye
care networks in the world, providing eye care to more than 1
million patients and performing more than 100,000 sight-preserving
surgeries annually. Magrabi operates in 30 locations in the Kingdom
of Saudi Arabia, United Arab Emirates, Qatar, Saltanat of Oman,
Yemen and Egypt.
The signing of a multi-year agreement in June
2021 with IRIS The Visual Group (1990) Inc.
(“IRIS”), (see press release 2021-06-09) created a
world leading platform launch for the deployment and enhancement of
Artificial Intelligence (“AI”) based tests,
screening for vascular changes in the retina for optometry clinics.
In addition, DIAGNOS has entered into a 7-year agreement with New
Look Vision Group Inc. (“New Look Vision”), IRIS’
parent company. The New Look Vision network totals 406 locations
operating across North America. Installations are ongoing.
DIAGNOS announced several agreements in Latin
America with Juarez Health & Medical Cluster, Cielo Vista Eye
Clinics and Hospital Oftalmologico Buena Vista Sinaloa in Mexico.
Grupo Opticalia in its establishment and consolidation in Colombia,
COFIDES will help the Company again with its expansion in
Mexico.
Multiple new applications involving AI-enhanced
retinal imaging to address a growing need for general purpose
pathology identification are under development. In addition to
localized retinal pathology, such as macular degeneration and
glaucoma, certain retinal pathologies are also known indicators of
various systemic disorders, including cardiovascular and diabetic
diseases.
The Company’s accomplishments in 2021 were truly
transformational and have positioned DIAGNOS for success in 2022.
Our team at DIAGNOS is committed to the task at hand; delivering
growth and value for all shareholders. The Company anticipates
being cashflow positive by the end of June 2022. We are thankful to
our customers, employees and shareholders for their continued
trust, support and belief in our Company.
DIAGNOS also announces the engagement of Red
Cloud Securities Inc. (“RCSI”) to provide market making services to
the Corporation. As per the agreement signed between RCSI and
DIAGNOS, RCSI is entitled to a monthly flat fee of $5,000 for the
period of February 1, 2022 to January 31, 2023. Either party may
terminate the agreement with a thirty-day notice to the other
party. As part of the services to be rendered to the Corporation,
RCSI undertakes to use its best efforts to maintain a reasonable
and consistent bid and offer spread for the Corporation’s common
stock and supply liquidity as needed. The services will be mainly
rendered by Mr. Adam Smith who is acting at arm’s length to the
Corporation. As of the date of this announcement, RCSI, together
with Mr. Adam Smith, own securities of the Corporation in the form
of common shares. The engagement of RCSI remains subject to the
acceptance of the TSX Venture Exchange.
About RCSIRed Cloud Securities
Inc. is an IIROC investment dealer focused on providing unique
comprehensive capital market services and innovative financing
alternatives. It was founded by capital markets professionals who
designed the firm to service small public and private companies.
This solution is a comprehensive platform that provides a full
range of unconflicted corporate access services. Offering these
services as a unified platform provides the ultimate value
proposition for issuers.
About DIAGNOSDIAGNOS is a
publicly traded Canadian corporation dedicated to early detection
of critical health problems based on its FLAIRE Artificial
Intelligence (AI) platform. FLAIRE allows for quick modifying and
developing of applications such as CARA (Computer Assisted Retina
Analysis). CARA’s image enhancement algorithms provide sharper,
clearer and easier-to-analyze retinal images. CARA is a
cost-effective tool for real-time screening of large volumes of
patients.
Additional information is available
at www.diagnos.com and www.sedar.com
This news release contains forward-looking
information. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in these
statements. DIAGNOS disclaims any intention or obligation to
publicly update or revise any forward-looking information, whether
as a result of new information, future events or otherwise. The
forward-looking information contained in this news release is
expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
For further information, please contact:
Mr. André Larente, President
DIAGNOS Inc.
Tel: 450-678-8882 ext. 224
alarente@diagnos.ca
Corporate Communications:
Nancy Massicotte
IR Pro Communications Inc.
Dir: +1 604-507-3377
1-866-503-3377
Email: nancy@irprocommunications.com
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