●Positive Financial Update
●New Partnerships Announced - aiXplain/Novus Health
●GLM - AI Accuracy and Effectiveness in Healthcare
●Bolstering the Executive, Scientific and Development Team - Dr. Jean Challiner
●AI Patient and AI Doctor in Your Pocket planned release in H2
VANCOUVER, British Columbia, July 09, 2024 (GLOBE NEWSWIRE) -- Treatment.com AI Inc. (CSE: TRUE, OTC: TREIF, Frankfurt: 939) (the “Company” or “Treatment AI”) is pleased to provide a general corporate update. Treatment AI has been working diligently through Q1 and Q2 to ensure continued evolution of its platform (Global Library of Medicine or GLM) and strengthening its pipeline for new business and partnerships. A few key milestones the Company has accomplished include:
Financial Update
On March 13, 2024, the company completed an oversubscribed non-brokered private placement of 6,295,500 special warrants and 975,000 units issued at $0.40 each for aggregate gross proceeds of $2,908,200. Each unit consists of one share and one-half of one warrant. Each whole warrant is exercisable for one share at the strike price of $0.60 for a period of two years. We are pleased to report that on June 21, 2024, the special warrants converted to free trading units.
The Company is also pleased to announce that it is now debt free, having closed a debt settlement transaction with arm’s-length creditors in March, 2024 settling an aggregate amount of $461,307.40 in debt and the recently announced debt settlement transaction on June 27, 2024, whereby the Company shall settle an additional $650,000 in debt with arm’s-length creditors, which is anticipated to close in the near term.
Dr. Essam Hamza, CEO states “We are very appreciative of the strong investor support for our company. This is a critical inflection point for the company, the significant infusion of cash is helping expedite the tremendous commercial opportunity in front of us. We also look forward to the exercising of the warrants which could bring another over $2 million to the treasury.”
New Partnerships Announced
Treatment AI recently announced two new partnerships with aiXplain and Novus Health.
aiXplain: Enables greater access to Treatment AI’s proprietary Global Library of Medicine (“GLM”) by contributing to aiXplain’s ever-growing dynamic Artificial Intelligence (AI) marketplace.
The collaboration also allows aiXplain and Treatment AI to work closely on testing and the development of further new mutual joint commercial applications and/or solutions for a global market.
Novus Health: An acknowledged leader in health navigation supporting over 1.5 million members and their families. Novus Health works with a number of leading North American Health Insurers and has built a trusted navigation platform that simplifies health care experiences by bringing together everything an individual needs to successfully manage their care journey. Treatment AI and Novus Health are looking to collaborate to build out new and differentiated solutions for the Health Risk Assessment and Medical Second Opinion markets.
GLM - Further Validation of Treatment AI’s Accuracy and Effectiveness
While reservations persist in how AI can be meaningfully and safely used in healthcare, Treatment AI continues to demonstrate the platform's accuracy and effectiveness. Treatment AI recently conducted a trial where a student, using our platform, successfully examined 12 test patients under OSCE conditions. The Objective Structured Clinical Examination (“OSCE”), is a standard clinical exam of diagnostic aptitude at medical and nursing schools in 57 countries globally.
The student, without any prior medical training, entered basic patient information and followed Treatment’s AI platform guided prompts to complete individualized assessments. The student then wrote clinical notes summarizing findings and suggested diagnoses. The results were impressive, with the student achieving an accuracy rate of >92% (11 of 12 cases) in diagnosing complex conditions, including colon cancer, appendicitis, acute myocardial infarction, diabetes, and patellar tendonitis. These results are significantly above results expected from medical students taking the same examinations.
Bolstering the Executive, Scientific and Development Team
Richard Atkins – Appointed Chief Operating Officer
Mr. Atkins brings to the business a successful career with over 30 years’ experience in international sales, partnerships, executive management and M&A, highlighted by multiple multi-million dollar deals working with both major health-tech and software corporations.
Mr. Atkins spent his formative career in software and technology including: networking, managed services, data centers & virtualization, omnichannel contact centers, CRM, enterprise search/ data analytics, cloud-based applications. However, for the past 15 years, he has brought his experience to healthcare, working across the continuum of care, with a focus on clinical decision support. His experience spans innovative international physical and mental health solutions including:- (i) Digital Health – healthbots, symptom checkers, telehealth, Alexa voice and social media solutions (ii) National/Provincial teletriage services (iii) Managed PACS/RIS and LIM services in both public/private sectors (iv) EMR/Billing and HL7/FHIR interoperability.
Dr. Jean Challiner – Executive Advisor
Dr. Challiner is a globally acknowledged expert in clinical decision support. As a doctor with a wealth of clinical experience, Dr. Challiner has helped pioneer specialized technology enabling the delivery of healthcare services since 2002, with a focus on the highest quality of clinical governance.
Dr. Challiner’s career began as a General Practitioner, moving to Accident & Emergency with a particular interest in pre-hospital care. Dr Challiner received a fellowship in Immediate Medical Care from the Faculty of Pre Hospital Care at the University of Edinburgh, Scotland in 2001.
For more than 20 years, Dr. Challiner has held Executive positions, including Medical Director or Executive Director roles with both public bodies (including the UK National Health Service (NHS), one of the world’s pre-eminent healthcare systems) and commercial organizations, as well as advisory roles with several early-stage companies. Dr. Challiner’s responsibilities have encompassed clinical decision support constructs, governance and clinical safety.
Dr. Challiner’s work with organizations globally has helped them transform local and national healthcare services and patient self assessment in countries as diverse as the UK, US, Australia, New Zealand, Portugal, Scandinavia, Brazil and Ghana.
Given her experience with both national pandemic projects and public health alerts (including Swine Flu; Legionnaires disease; UK Polonium incident and Ebola outbreak in Africa), Dr. Challiner was recently included in the NHS COVID pandemic Governance Team.
Aligning with Treatment AI’s vision for health equity, Dr. Challiner is also passionate and committed to the delivery of value based healthcare.
Development Team
Treatment AI has also significantly invested in and expanded its Development team through the second quarter of 2024 to help accelerate planned evolution of the Global Library of Medicine.
As a result, Treatment AI recently announced two new monthly subscription-based SaaS solutions for students, residents and all healthcare professionals expected to launch in H2 2024:
●AI Patient – utilizing AI and a library of test cases to further support students in their preparation and readiness for medical multiple-choice questions (MCQ’s) and OSCE clinical exams.
●AI Doctor in a Pocket – delivers a mobile friendly AI powered clinical decision support tool for healthcare professionals and students when they are in clinics or the hospital.
FOR ADDITIONAL INFORMATION, CONTACT:
Dr. Essam Hamza, CEO
If you would like to find out more about Treatment’s products and services, please email at info@treatment.com
For media inquiries, contact: media@treatment.com
Call: +1 (612) 788-8900 / Toll-Free USA/Canada: +1 (888) 788-8955
Cautionary Statements
This news release contains forward-looking statements that are based on Treatment.com AI’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to the implementation of its shareholder communications initiative and the timing thereof. Although Treatment.com believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and Treatment.com undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
