Issued on behalf of Avant Technologies Inc.
VANCOUVER – USA News Group News Commentary – Artificial intelligence (AI) is rapidly reshaping the healthcare landscape, with experts suggesting its potential to significantly reduce deficits in the U.S. healthcare system. The U.S. Food and Drug Administration (FDA) has begun turning its focus toward medical devices powered by Generative AI (GenAI), recently sharing a comprehensive 30-page report with committee members to explore this transformative technology. GenAI’s ability to analyze and synthesize data at unprecedented speeds is positioning it as a groundbreaking force in healthcare. From drug development to diagnostics and treatment monitoring, the pace of innovation is accelerating, driven by advancements from companies like Avant Technologies, Inc. (OTCQB: AVAI), Roche Holding AG (OTCQX: RHHBY, RHHVF), Tempus AI, Inc. (NASDAQ: TEM), Recursion Pharmaceuticals, Inc. (NASDAQ: RXRX), and Stryker Corporation (NYSE: SYK).
The article continued: Among the many developments propelling AI in healthcare forward, one standout is the $9.58 billion AI Training Datasets industry. Analysts at MarketsandMarkets Research project the global AI in Precision Medicine Market will surge to US$3.92 billion by 2030, achieving an impressive 30.7% compound annual growth rate (CAGR). Similarly, the Healthcare IT Market is expected to reach US$834.35 billion by 2029, growing at a 14.7% CAGR, bolstered by AI’s contributions to enhancing interoperability across systems.
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, today 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.
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:
Tempus AI, Inc. (NASDAQ: TEM), a technology company leading the adoption of AI to advance precision medicine and patient care, recently announced a collaboration with Flatiron Health, a leading healthtech company dedicated to expanding the possibilities of point of care solutions in oncology, to integrate Tempus’ comprehensive genomic testing directly into Flatiron’s cloud-based Electronic Medical Record (EMR) platform, OncoEMR® through the Molecular Profiling Integration (MPI). This integration will provide oncologists with seamless access to Tempus’ suite of testing options, enhancing their ability to deliver personalized cancer care.
“This collaboration represents a significant step forward in the integration of Tempus’ molecular profiling capabilities into everyday oncology practice,” said Ezra Cohen, MD, Chief Medical Officer of Oncology at Tempus. “By leveraging Flatiron’s Molecular Profiling Integration within OncoEMR, we are enabling oncologists to access our comprehensive genomic tests with greater efficiency and precision, ultimately enhancing patient care and outcomes.”
Flatiron’s MPI—a two-way integration between laboratories and OncoEMR—will allow the 4,200 providers at more than 800 community-based cancer care locations across the U.S. in Flatiron’s network to order and receive results from Tempus directly in the OncoEMR workflow. The integration will enable electronic ordering, order tracking, and the receipt of Tempus test results directly within the OncoEMR platform, significantly reducing administrative burden and improving the experience for care providers.
“Integrating Tempus’ suite of testing options into OncoEMR marks a step forward in personalizing cancer care, enabling more precise diagnoses and tailored treatments for every person with cancer,” said Stephen Speicher, MD, Senior Medical Director, Head of Clinical Oncology and Safety at Flatiron. “This collaboration ensures oncologists across the Flatiron network have convenient access to the information needed to practice precision medicine, improve patient outcomes, and spend more meaningful time with their patients, ultimately enhancing the care experience for both providers and those they serve.”
Recursion Pharmaceuticals, Inc. (NASDAQ: RXRX), a leading, clinical-stage TechBio company decoding biology to industrialize drug discovery, recently announced its official combination with another AI-powered drug discovery and development company, Escientia. As per the arrangement, Exscientia will officially become a wholly-owned subsidiary of Recursion, creation of a vertically-integrated and technology-enabled drug discovery platform.
“I believe the combination of the incredible teams and platforms at Exscientia and Recursion position us as the leader of the AI-enabled drug discovery and development space,” said Chris Gibson, Ph.D., Co-Founder and CEO of Recursion. “With more than 10 clinical and preclinical programs in the internal pipeline, more than 10 partnered programs and over $450M in upfront and realized milestone payments received from partners to date out of more than $20B possible, we are advancing a flywheel of discovery and creating value in our pipeline through technology.”
The combined entity of Recursion and Exscientia boasts a robust pipeline of over 20 programs spanning clinical, preclinical, and advanced discovery stages, supported by partnerships generating $450M in upfront and milestone payments, with the potential for an additional $20B. Leveraging Exscientia’s chemical synthesis expertise and Recursion’s 60+ petabytes of proprietary data, the enhanced Recursion OS positions the new company as a leader in AI-driven drug discovery and development.
Stryker Corporation (NYSE: SYK), a global leader in medical technologies, recently announced its launch of the next generation of SurgiCount+ within its sponge management portfolio. Now integrated with Stryker’s Triton technology, SurgiCount+ addresses two key challenges: retained surgical sponges and blood loss assessment. Integrating these previously separate digital solutions provides the added benefit of a more efficient, streamlined workflow for hospitals.
“We are committed to helping keep caregivers and patients safe from harm,” said Brandon Jominy, Vice President and General Manager of Stryker’s Surgical Technologies business. “Integrating our SurgiCount+ and Triton technologies on one platform will set a new industry standard for quantifying blood loss and continuing to help reduce retained surgical sponges in the OR.”
Stryker’s Triton software includes AI technology that can differentiate blood from other fluids and a Bluetooth scale that batch weighs blood-soaked items to help assess blood loss. This provides hospital staff with real-time information to help coordinate the clinical team’s hemorrhage response and make informed patient care decisions.
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