VANCOUVER, Oct. 29, 2019 /CNW/ - Cognetivity Neurosciences Ltd. (the "Company" or "Cognetivity") (CSE: CGN; FWB: 1UB; OTCQB: CGNSF) today confirmed that it has assessed sufficient participants in the clinical evaluation study of its Integrated Cognitive Assessment (ICA) platform to register for CE marking.
The news means Cognetivity remains on track to register the ICA as a medical device by the end of 2019, enabling the product to be launched in the United Kingdom and the EU.
"We're extremely satisfied to have passed this critical milestone in the commercial development of our technology," said Cognetivity's CEO, Dr Sina Habibi. "And of course, every new test-taker represents an addition to our available data, which only serves to improve the quality of our Artificial Intelligence (AI) engine and thus the product itself."
Cognetivity's ICA platform, through the use of advanced AI techniques, has the potential to assist in the identification and monitoring of cognitively-impaired individuals with high accuracy and improved cost-effectiveness. The ICA can be seamlessly integrated into existing care pathways in clinical practice, leading to increased efficiency for clinicians and better outcomes for both patients and families.
The important progress Cognetivity has made comes at a particularly salient moment, as global pharmaceutical giants Biogen and Eisai recently announced that they intend to file for FDA approval of aducanumab in early 2020. This drug would be the first disease-modifying therapy for Alzheimer's Disease to reach the market, injecting much-needed impetus into the field of drug development for neurodegenerative disease and potentially improving the lives of millions of patients.
Crucially, the prospect of such therapies highlights the need for validated tools that can help to identify patients when interventions are at their most effective. Given its immunity to practice effects and capacity for remote administration, the ICA is well positioned to make a major impact.
About Cognetivity Neurosciences Ltd.
Cognetivity is a technology company developing a cognitive testing platform, the Integrated Cognitive Assessment (ICA) 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, potentially allowing early diagnosis of dementia. Cognetivity aims to develop the ICA through ongoing clinical studies to the market in North America, Europe and elsewhere in the world.
For more information, please visit: www.cognetivity.com
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SOURCE Cognetivity Neurosciences Ltd