Demand for digital health technology is only gaining momentum. In fact, according to an Accenture Digital Health Technology Vision 2021 report, “Research found that to achieve meaningful digital transformation; healthcare leaders must acknowledge that business and technology strategies are increasingly becoming one. The good news is that most healthcare executives agree, with 87% of them saying that their organization's business and technology strategies are becoming inseparable.” That’s a big positive for companies such as AI/ML Innovations (CSE:AIML)(OTC:AIMLF), Numinus Wellness (TSXV:NUMI)(OTC:LKYSF), Mydecine Innovations Group (CSE:MYCO)(OTC:MYCOF), Cassava Sciences Inc. (NASDAQ:SAVA), and Intra-Cellular Therapies Inc. (NASDAQ:ITCI).
In addition, according to the report, “Growing investments in digital twin technologies (e.g., the internet of things, data streaming, and 5G) give rise to a new generation of organizations and intelligence. In a mirrored world, a healthcare organization's physical world is represented in a digital environment with models of whole factories, supply chains, product life cycles, and more. The technology presents new opportunities for leaders to bring data and intelligence together, ask and answer big questions, and reimagine how they operate, collaborate, and innovate -- before making real-world decisions.”
Look at AI/ML Innovations, for example
AI/ML Innovations’ (CSE:AIML)(OTCQB:AIMLF), a company committed to acquiring and advancing Artificial Intelligence/Machine Learning technologies that address urgent societal needs, is pleased to announce that its strategic partner, Tech2Health, a France-based global provider of proprietary digital mental health and wellness products, has entered into commercial contracts with three companies to provide digital mental health services to their employees and insured members. Based on the number of individuals covered and standard industry usage rates, Tech2Health estimates that these contracts may potentially generate an aggregate total of US$5 million of revenue over the 3-year life of the contracts. AIML has a binding Letter of Intent to acquire a 70% undivided interest in the North American rights to Tech2Health’s complete portfolio of products and brands, in addition to a 22.22% equity interest in Tech2Health’s global operations.
“Tech2Health’s Qookka-branded mental wellness products were officially launched only one month ago, and already the company has secured three substantial multi-year contracts” said Tim Daniels, Chairman of AIML. “We are very pleased by the rapid pace of commercialization the Qookka product lines are experiencing, as employers and insurers continue to step up their responsibility to help provide mental health support, as evidenced by these contracts. This reaffirms our belief that the digital application of the treatment and support of mental health issues, which has gone largely unaddressed until recently, is now realizing rapid adoption and global growth. This bodes well for the future of Tech2Health and AIML.”
- Tech2Health recently signed a three-year contract a with leading French multinational manufacturer to provide mental wellness support to their 170,000 employees globally in five languages, through the use of Qookka Live.
- MAPA Assurance, the 110-year-old French insurance provider, has entered a three-year contract with Tech2Health to provide coverage for mental health consultations via Qookka Live to its 85,000 insured members.
- Elixir Santé, is a French web-based health insurance market with an emphasis on health coaching care and support for their members. The three-year contract with Tech2Health offers Elixir’s members mental health consultations via Qookka Live, to complete Elixir’s offering of a comprehensive set of healthcare products and services.
The actual revenue generated from these contracts will be a function of the number of employees and insured members of these organizations who choose to seek Qookka counselling benefits, multiplied by the agreed upon reimbursement rate, in addition to the agreed upon number of live coaching sessions delivered to each organization. The revenue estimate is based upon the historical adoption rates for employees and insured members of these organizations for similar mental health and wellness services.
Other related developments from around the markets include:
Numinus Wellness, a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, is pleased to announce that Health Canada has cleared the MAPS-sponsored single-arm, open-label safety and feasibility study evaluating MDMA-assisted therapy for post-traumatic stress disorder (PTSD). This study is being pursued in collaboration with MAPS Public Benefit Corporation (MAPS PBC), a wholly-owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), the leading developer of MDMA-assisted therapy training programs, treatment protocols and research.
Mydecine Innovations Group, an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use is pleased to announce that its subsidiary Mindleap Health, is launching the 2.0 version of its virtual health platform on July 30, 2021 (see Mindleap.com), which provides the infrastructure to support the conscious and trustworthy adoption of psychedelics into the broader categories of mental health and inner wellness. “We are providing a platform that can help transform the lives of millions of people,” said Mindleap Interim CEO & Technical Director William Cook. “Our aim is to bring conscious and trustworthy support for people on their daily mental-health journey while also supporting life-changing healing experiences.”
Cassava Sciences Inc., a biotechnology company focused on Alzheimer’s disease, announced the selection of Premier Research International as its clinical research organization (CRO) to help conduct the Phase 3 clinical program of simufilam for Alzheimer’s disease. Consistent with previous guidance, Cassava Sciences plans to initiate this Phase 3 program in the second half of 2021. “Having completed over 250 clinical studies in neuroscience, we believe Premier Research International understands how to conduct clinical studies in patients with Alzheimer’s disease,” said Remi Barbier, President & CEO of Cassava Sciences. “With Premier Research as our CRO partner, we now look forward to advance simufilam into Phase 3 clinical testing.”
Intra-Cellular Therapies Inc., a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders, announced the article, "Safety and tolerability of lumateperone: a pooled analysis of late-phase placebo-and active-controlled clinical trials” (Kane et al. 2021), was recently published online in International Clinical Psychopharmacology. This pooled analysis of 3 randomized, double-blind, placebo-controlled trials was conducted to evaluate the safety and tolerability of lumateperone 42 mg. The pooled population comprised of 1,073 patients with an acute exacerbation of schizophrenia randomized to placebo (n=412), lumateperone 42 mg (n=406), or risperidone 4 mg (n=255). Risperidone was included for assay sensitivity and not included for a comparison between CAPLYTA and risperidone.
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