10:25:53 EDT Fri 29 Mar 2024
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Diagnos Inc (3)
Symbol ADK
Shares Issued 65,625,925
Close 2021-02-24 C$ 0.58
Market Cap C$ 38,063,037
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Diagnos forms partnership with Labtician

2021-02-24 13:27 ET - News Release

Mr. Andre Larente reports

DIAGNOS ANNOUNCES ITS EXCLUSIVE STRATEGIC PARTNERSHIP AGREEMENT WITH LABTICIAN OPHTHALMICS, A LEADER IN CANADIAN AND INTERNATIONAL EYECARE MARKETS TO ADDRESS GROWING NEEDS IN THE MONITORING OF DIABETIC AND HYPERTENSIVE PATIENTS

Diagnos Inc. has signed an exclusive strategic partnership agreement with Labtician Ophthalmics, a Toronto-based company with customers across Canada that will introduce and commercialize Diagnos's AI (artificial intelligence) platform to monitor ocular health and improve patient care in diabetic patients. An initial agreement with Labtician was announced on June 3, 2020.

In an effort to increase its footprint and accelerate its growth, Diagnos has decided to work with organizations that are active in similar markets. The formalization of this strategic partnership with Labtician will have the net effect of allowing access to new customers across Canada. Diagnos's CARA (computer-assisted retina analysis) solution allows close monitoring of the effects of medications used in retinal microcirculation to help professionals in their day-to-day screening of their patients.

"We are pleased to be working with Diagnos in addressing growing needs in the monitoring of diabetic and hypertensive patients. For over 60 years, we've been world leaders in innovative eye care products, solutions and resources for eye care professionals and their patients. Through our extensive network, we commercialize our high-quality eye care products as well as those of our forward-thinking partner companies in Canada and worldwide. We help companies through the complexities and nuances of Canadian and international markets, from prelaunch assistance and obtaining regulatory approval to securing commercialization and distribution channels," explained Labtician president Polydor Strouthos.

"I am pleased to be working with the team at Labtician. Labtician brings a high level of expertise in the Canadian health care marketplace. Our growth strategy is to create partnerships in select countries, thereby leveraging local relationships to accelerate the adoption of Diagnos's CARA AI platform. Labtician is the ideal partner due to their long history of working closely with Canadian optometric and ophthalmology professionals dedicated to treating the effects of diabetes on the eyes and preventing vision loss," explained Diagnos chief executive officer Andre Larente.

Labtician worked with Prism Eye Institute, a CAN Health Network partner, to gain insights in how to best utilize this revolutionary screening technology in the Canadian market. With these insights, Labtician was able to find ways to bring this technology to Canadians using existing care models. The CAN Health Network is focused on building an integrated market and supporting Canadian companies' scale.

"More retina screening means earlier intervention, better care and a massive savings to the system," said Dr. Ike Ahmed, a world-renowned ophthalmologist and medical director at Prism Eye Institute, who has led the efforts as part of his commitment to the CAN Health Network. "We are strong supporters of the CAN Health Network and helping world-class Canadian health tech companies succeed. By supporting Canadian companies, our patients' community and economy all benefit."

About Labtician Ophthalmics

With 60 years of history in Canada, Labtician has evolved from a manufacturer of quality ophthalmic products for the global market to a specialized commercialization partner for the Canadian ophthalmic market. In its capacity as a commercialization partner, it offers the complete Canadian solution. Labtician is actively involved in the entire commercialization process from prelaunch to launch and postlaunch. This involves regulatory, market access, importation and distribution, as well as sales and marketing activities. Internationally, it offers commercialization expertise through global partners.

About Diagnos Inc.

Diagnos is a publicly traded Canadian corporation dedicated to early detection of critical health problems based off its Flaire artificial intelligence (AI) platform. Flaire allows for quick modifying and developing of applications such as CARA (computer-assisted retina analysis). CARA's AI-based image enhancement algorithms provide sharper, clearer and easier-to-analyze retinal images. CARA is a cost-effective tool for real-time screening of large volumes of patients. CARA has been cleared for commercialization by the following regulators: Health Canada, the U.S. Food and Drug Administration (United States), CE (Europe), COFEPRIS (Mexico), and the Saudi Food and Drug Administration (Saudi Arabia).

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