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DiagnaMed Prioritizes Development and Commercialization Initiatives for CERVAItm, a Brain Health AI Platform Leveraging Generative AI

TORONTO, Feb. 14, 2023 (GLOBE NEWSWIRE) -- DiagnaMed Holdings Corp. ("DiagnaMed" or the "Company") (CSE: DMED), a digital health generative AI company, today announces that it is prioritizing resources to solely focus on the development and commercialization of CERVAItm, a proprietary Brain Health Artificial Intelligence ("AI") Platform leveraging Generative AI. CERVAItm aims to predict and monitor brain age and provide actionable insights and tools to diagnose, prevent or improve cognitive decline for mental health and neurodegenerative disorders. The Company expects to launch its first version of CERVAItm as a general clinical tool in May 2023.

CERVAItm is being developed and evaluated at Drexel University under a license and sponsored research agreement led by Dr. John Kounios, PhD, Professor of Psychological and Brain Sciences at Drexel University. CERVAItm consists of an electroencephalogram-based ("EEG") headset and machine-learning technique for predicting brain age and assessing whether the brain is aging more quickly, more slowly or reversing while providing actionable risk assessments for brain health through web and mobile applications.

Separately, research is being conducted at Drexel University, led by professor Dr. Hualou Liang, PhD, to incorporate OpenAI's GPT-3 program to detect early signs of neurodegenerative disorders. Most recently, this research reported in the journal PLOS Digital Health demonstrated that OpenAI's GPT-3 program could identify clues from spontaneous speech that are 80% accurate in predicting the early stages of Alzheimer's. In addition, the results reported in the paper demonstrated that "the text embedding, generated by GPT-3, can be reliably used to not only detect individuals with Alzheimer's Disease from healthy controls, but also infer the subject's cognitive testing score, both solely based on speech data. We further show that text embedding outperforms the conventional acoustic feature-based approach and even performs competitively with fine-tuned models. These results, all together, suggest that GPT-3 based text embedding is a promising approach for AD assessment and has the potential to improve early diagnosis of dementia."

CERVAItm aims to integrate proprietary software and web applications into a unified turnkey pipeline of standardized EEG and data recording protocols and unique brain health assessment tools generated rapidly by self-report or clinician-observed measures, each capturing different aspects of brain health to evaluate overall brain health, output a patient risk score, and provide actionable points generated by GPT-3 to develop precision medicine-like, personalized treatment plans and interventions for mental health and neurodegenerative conditions.

"We are excited about the potential of CERVAItm, our proprietary Brain Health AI Platform leveraging Generative AI, offering a novel brain health solution for the millions of people suffering from mental health and neurodegenerative diseases," said Fabio Chianelli, Chairman of DiagnaMed. "By amalgamating our machine learning tools for brain age with EEG recordings, brain health with validated assessment tools, and disease detection with alternative data recordings would make CERVAItm the world's first digital health generative AI system for early detection and solution for brain health. We expect to launch the first version of CERVAItm as a clinical tool in the U.S. and Canada in May 2023."

About DiagnaMed Holdings Corp.

DiagnaMed Holdings Corp. (CSE: DMED) is focused on the development and commercialization of CERVAItm, a proprietary Brain Health AI Platform leveraging Generative AI for mental health and neurodegenerative disorders. Learn more at DiagnaMed.com.

For more information about DiagnaMed, please contact:

Fabio Chianelli
Chairman of the Board
DiagnaMed Holdings Corp.
Tel: 416-800-2684
Email: info@diagnamed.com
Website: www.diagnamed.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. 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, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in DiagnaMed's final prospectus dated October 26, 2022, which is available on the Company's profile at www.sedar.com. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction. 

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