Mr. Christopher Moreau reports

GREY MATTERS RETAINS NATIONALLY RECOGNIZED PROSCAN TO READ BRAIN IMAGES FROM ITS FLAGSHIP NOVASCAN NEUROIMAGING CLINICS™ LOCATION IN FLORIDA

Grey Matters Health Inc. has signed a professional services agreement with ProScan Reading Services, a division of nationally recognized ProScan Imaging, to read the neuro-scans from its flagship NovaScan Neuroimaging Clinics location scheduled to open by Sept. 30 in Davie, Fla. ProScan provides remote, off-site teleradiology interpretations for approximately 500 medical centres, hospitals and imaging clinics worldwide.

ProScan's fellowship-trained, board-certified subspecialty radiologists will receive brain positron emission tomography (PET) scan images from NovaScan for patients being investigated for the presence of beta-amyloid plaques associated with the progression of Alzheimer's Disease (AD).

ProScan will also interpret scans sent from NovaScan for patients being evaluated for frontotemporal dementia, Parkinson's, Lewy body dementia and for select neuro-oncology applications as well. ProScan will provide interpretations based on high-quality and high-resolution images generated by the clinic's new United States Food and Drug Administration-cleared brain imaging PET technology and will deliver the reports back to NovaScan which will be forwarded on to the referring physicians and made available on-line for patients.

For Alzheimer's patients, ProScan will provide a report using the Centiloid scale which offers a standardized method for interpreting brain amyloid PET imaging, an important tool in Alzheimer's disease diagnosis. This scale provides a universal unit of measurement, allowing for consistent comparison of amyloid plaque burden across various studies and tracers.

"We are very pleased to have retained ProScan to read our PET Scan images," said Christopher J. Moreau, chief executive officer of Grey Matters Health. "We have designed the NovaScan Neuroimaging Clinics concept to not only be scalable nationally but to be highly efficient. As a result, it has always been our plan to work with the top experts in neuroradiology to read and interpret our patient brain scans and ProScan is one of the world's best."

"We are indeed excited to add NovaScan Neuroimaging as a new client," said Judith Turner, vice-president, sales marketing and operations, ProScan Teleradiology. "Grey Matters is the first company to develop plans for a national model to not only relieve the wait times for U.S. patients needing brain PET scan imaging but to also offer the latest innovation in PET scan technology."

About ProScan Imaging and ProScan Reading Services

Headquartered in Cincinnati, Ohio, ProScan Imaging is fully accredited and has spent over 30 years building a prominent national and global footprint in diagnostic medical imaging. Its dedicated teleradiology branch -- ProScan Reading Services -- interprets large volumes of scans across all 50 U.S. states and several international sites.

U.S. flagship -- NovaScan Neuroimaging Clinics

The inaugural NovaScan Neuroimaging Clinics location is at the HCA Florida University Medical Office Building in Davie, located on the campus of the HCA Florida University Hospital, and will be the first of its kind in the U.S. to provide brain dedicated PET scans to aid in the detection of Alzheimer's Disease (AD) and other forms of neurodegenerative diseases including frontotemporal dementia, Parkinson's and Lewy body dementia, and will be additionally used for other select neuro-oncology applications.

HCA Florida University Medical Office Building/Davie, Fla.

Brain PET scans for beta-amyloid plaque detection (associated with advancing AD) are covered by Medicare, Medicaid and private insurance for those 65-plus, with patients being referred to NovaScan Neuroimaging Clinics by neurologists, geriatricians and primary care physicians. The clinic will feature the U.S. FDA-cleared CareMiBrain system , a groundbreaking, new seated diagnostic brain PET scanner, that does not need an integrated computed tomography (CT) component to produce high-quality images, resulting in 25-per-cent less radiation exposure for patients.

The CareMiBrain

PET brain scanning system

There are two recently U.S. FDA-approved monoclonal antibody treatments for AD, which are also covered by Medicare, Medicaid and private insurance, designed to slow the progression of the disease -- Leqembi (Eisai and Biogen) and Kisunla (Eli Lilly) -- and both require a positive beta-amyloid brain scan (or spinal tap) in order for patients to be authorized to receive them. These drugs can dissolve amyloid plaque build-up in the brain and slow the progression of a patient's cognitive decline, and have helped create a billion-dollar market opportunity for the brain specific PET scan and AD treatment space.

The United States' current supply of PET scanners -- the majority being a PET/CT hybrid technology -- is vastly insufficient to serve the massive new market emerging for AD diagnostics and treatment. The majority of PET/CT scanners, 45 per cent of which are located in hospitals, are primarily prioritized as cancer diagnostic and theranostic tools, and for cardiac imaging, which can make it challenging to schedule brain-specific scans on a timely basis.

The Grey Matters Health business plan is to open a national chain of its NovaScan Neuroimaging Clinics throughout the U.S.

About Grey Matters Health Inc.

Grey Matters is a Canadian health care company focused on the provision of brain dedicated PET scanning services through a planned network of new neuroimaging clinics in the U.S. for the early stage detection of Alzheimer's Disease and other forms of neurodegenerative diseases, including frontotemporal dementia, Parkinson's and Lewy body dementia, and will additionally offer other select neuro-oncology imaging applications too.

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