VANCOUVER, Jan. 7, 2020 /CNW/ – Cognetivity Neurosciences Ltd. (the “Company” or “Cognetivity”) (CSE: CGN; FWB: 1UB; OTCQB: CGNSF) today confirmed that its Integrated Cognitive Assessment (ICA) software has been approved as a CE-marked medical device. The announcement follows Cognetivity’s registration of the ICA with the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) last month and enables the ICA to be used clinically across Europe.
Powered by Artificial Intelligence, the ICA is designed for use as a diagnostic aid for dementia, a syndrome that represents a substantial and ever-increasing global health burden. According to the World Health Organisation (WHO), 50 million people have dementia worldwide, with around 10 million new cases each year, and the total number of dementia sufferers is expected to reach 150 million by 2050.
Regulatory approval grants the ICA a CE mark, demonstrating conformity with EU medical device safety and performance requirements. It permits the ICA to be sold as a medical product in the UK and throughout the European Economic Area (EEA), the population of which exceeds 500 million people, with one in five over the age of 65. As such, it represents a major milestone in the company’s development and paves the way for its plans to obtain regulatory approval in other jurisdictions, including the USA, Canada and China.
About Cognetivity Neurosciences Ltd.
Cognetivity is a technology company developing a cognitive testing
platform, the Integrated Cognitive Assessment (ICA) for use in medical,
commercial and consumer environments. Cognetivity’s ICA uses Artificial
Intelligence and machine learning techniques to help detect the earliest
signs of impairment by testing the performance of large areas of the
brain, potentially allowing early diagnosis of dementia. Cognetivity
aims to develop the ICA through ongoing clinical studies to the market
in North America, Europe and elsewhere in the world.
For more information, please visit: www.cognetivity.com
ON BEHALF OF THE BOARD
Chief Executive Officer and Director
FORWARD LOOKING STATEMENTS:
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SOURCE Cognetivity Neurosciences Ltd