DiagnaMed Looks To Obtain Approval For Brain Age Clinical Tool In Q4
DiagnaMed Holdings (CSE: DMED) is moving towards obtaining regulatory approval for its Brain Age clinical solution by the end of 2023. The firm this morning provided an update on the expected milestones its expects to hit in 2023.
Brain Age, which DiagnaMed has obtained an exclusive worldwide licensing agreement for via an arrangement with Drexel University, is referred to as a “proprietary electroencephalogram-based artificial intelligence solution.” The tech is being developed as a potential brain health solution for athletes, as well as those diagnosed with neurodegenerative and mental health conditions, which can monitor a persons “brain age.”
Development of the tech is currently focused on integrating software into a turnkey pipeline, as well as developing a standardized protocol for recording EEG data, and collecting new data from an ongoing research study. This data is then being aggregated to validate the machine learning model of Brain Age for regulatory marketing authorization.
In terms of timelines, the company expects that in the second quarter it will complete an approved research study that focuses on 100 subjects to determine the stability and reliability of the tech. This study will then be used to finalize estimation modules, after which DiagnaMed will look to obtain regulatory authorization to market the clinical tool in the US by the fourth quarter of 2023.
Finally, when it comes to commercialization, DiagnaMed envisions a clinical provider network of up to 10,000 physicians, specialists, and sports clinics across the US. The potential market for the tool as a whole is currently viewed as being at least 50 million in the US itself.
DiagnaMed last traded at $0.025 on the CSE.
FULL DISCLOSURE: DiagnaMed Holdings is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover DiagnaMed Holdings on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.