Cognetivity Neurosciences Enters Asia Via Pilot Agreement with Leading Singaporean Senior Care Network

• Cognetivity's CognICA^TM platform to be deployed within the extensive network of senior care facilities in Singapore operated by Lions Befrienders
• LBSA actively engages more than 7,600 at-risk seniors operating five Active Ageing Centres, five Senior Activity Centres, three Cluster Support, two Senior Group Homes and provides Home Personal Care services
• Phase One pilot is expected to be followed by Phase Two commercial deployment providing unlimited testing for over 1,250 senior citizens

VANCOUVER, BC, July 5, 2022 /CNW/ - Cognetivity Neurosciences Ltd. (the "Company" or "Cognetivity") (CSE: CGN) (OTCQB: CGNSF) (FWB: 1UB), a technology company that has created a unique brain health screening platform for use in medical, commercial and consumer environments, is pleased to announce that it has entered into a paid pilot agreement (the "Agreement") with Lions Befrienders Service Association ("Lions Befrienders" or "LBSA"), which is a leading Singapore-based senior healthcare provider.

Established in 1995, Lions Befrienders has addressed the varied needs of more than 86,000 senior citizens across Singapore via a spectrum of integrated eldercare services from preventive to intervention through comprehensive programmes, including social, emotional, mental and physical rehabilitation. LBSA is supported by over 1,500 regular volunteers and actively engages more than 7,600 at-risk senior citizens.

The three-month pilot project will see Cognetivity's CognICA™ brain health screening platform used with a select group of seniors to identify, assess and evaluate those suffering from, or at risk of, cognitive impairment. Testing will be carried out at predetermined evaluation intervals (initial reading; midway after intervention applied; final reading at the end of the pilot period) to track the impact of lifestyle interventions, improve on referral criteria to specialist care and provide a report showcasing the efficacy of the program. 

Cognetivity's unique, five-minute, computerised CognICA™ brain health assessment tool, uses a patient's  rapid categorisation of visual stimuli to provide a highly accurate and objective measurement of cognitive performance and potential impairment. The test is tablet-based, self-administered and is independent of language and education biases, thereby making it highly effective for comprehensive, scaled screening programs.

Pursuant to the terms of the Phase One pilot, its successful completion is expected to be followed by a Phase Two commercial deployment that would see the CognICA™ platform adopted as the standard cognition screening tool and rolled out across the LBSA network to provide unlimited testing for over 1,250 senior citizens.

"We're excited to work with an increasing number of organizations that are on the front lines of senior care and are expertly using our technology to monitor and assess patients while ensuring that they get the right treatment at the right time," said Dr. Sina Habibi, Chief Executive Officer of Cognetivity. "Brain health is an enormous global issue that is best addressed proactively. With deployments of the CognICA™ platform now spanning four continents, we're thrilled to be increasingly recognized as an integral part of the long term solution." 

Mazen Sobh, Cognetivity's VP of Commercial Development added "It's great to see that our business development work in the Middle East and Asia is bearing fruit and bringing customers like Lions Befrienders into the benefits of using CognICA. Singapore is an important market for us as it represents a stepping stone into the huge Asian market and its rapidly ageing population. With our work with Lions Befrienders we are able to demonstrate the value that our technology brings to delivering the best possible support for the senior population in Singapore and beyond."

According to the Lancet Commission, almost one billion people worldwide suffer from a mental disorder and the estimated costs of these disorders is estimated to have a global economic cost of US$16 trillion by 2030. Early detection of brain health disorders has the potential to significantly reduce costs of care while improving patient outcomes. Cognetivity's CognICA™ technology is a unique and highly scalable software-as-a-service solution able to accurately detect the earliest stages of the majority of major brain health disorders.

About Cognetivity Neurosciences Ltd.

Cognetivity is a technology company that has created a cognitive testing platform for use in medical, commercial and consumer environments. Cognetivity's CognICA^TM uses Artificial Intelligence and machine learning techniques to help detect the earliest signs of cognitive impairment by testing the performance of large areas of the brain. CognICA^TM is currently available for clinical use in the USA, UK and Europe, with regulatory approval for other regions planned for 2022.

ON BEHALF OF THE BOARD

"Sina Habibi" 
Sina Habibi
Chief Executive Officer and Director

FORWARD-LOOKING STATEMENTS:

Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "assume" "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Cognetivity Neurosciences Ltd

please visit: www.cognetivity.com or contact: [email protected]; For media enquiries, please contact: Josh Stanbury | [email protected] | 416-628-7441