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Diagnos signs MOU with Essilor International

2021-08-16 13:28 ET - News Release

Mr. Andre Larente reports

DIAGNOS SIGNS MEMORANDUM OF UNDERSTANDING WITH ESSILOR INTERNATIONAL

Diagnos Inc. has entered into a memorandum of understanding with the instruments division of Essilor International, a subsidiary of EssilorLuxottica. Essilor International is the world's leading ophthalmic optics company. Essilor designs, manufactures and markets a wide range of lenses and diagnostic ophthalmic instruments.

The MOU is non-binding and forms the basis of a potential distribution agreement with Essilor International for Diagnos's CARA platform for the AI-enhanced (artificial intelligence) analysis of wide-field retinal images as well as of certain specified future developments of the CARA platform for a variety of applications.

Diagnos has under development multiple new applications involving AI-enhanced retinal imaging to address a growing need for general-purpose pathology identification. In addition to localized retinal pathology, such as macular degeneration and glaucoma, certain retinal pathologies are also known indicators of various systemic disorders, including cardiovascular and diabetic diseases. On July 20, 2021, Diagnos announced a clinical trial with CommonSpirit Health Research Institute in the United States for the early detection of stroke through the inspection and analysis of the retina.

"Diagnos is focused on its commercialization strategy and pursuing opportunities with potential partners. We are very pleased that our AI-based technology has attracted the attention of global eye care sector leaders such as Essilor International, and we are looking forward to our discussions with respect to a mutually beneficial potential worldwide distribution agreement. At the same time, Diagnos continues to invest in research and development, furthering the creation of our intellectual property by partnering with Quebec government programs and local university (Ecole de Technologie Superieure) to ensure that we stay ahead of our competition worldwide," said Andre Larente, president of Diagnos.

About Diagnos Inc.

Diagnos is a publicly traded Canadian corporation dedicated to early detection of critical health problems based on its Flaire artificial intelligence (AI) platform. Flaire allows for quick modifying and developing of applications such as CARA (computer-assisted retina analysis). CARA's 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 Saudi Food and Drug Administration (Saudi Arabia).

We seek Safe Harbor.

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