Diagnos (ADK.V) today announced a contract renewal to provide its telemedicine platform based on CARA (Computer Assisted Retina Analysis) to Optina Diagnostics for an additional three-year period.
“This contract renewal is a testimony of the high quality of our telemedicine platform and the agility of DIAGNOS people to adapt its platform to enable the rich data collected with the unique Optina-4CTM hyperspectral camera. We are proud to contribute to the success of innovative companies like Optina. Their work towards a precise Alzheimer’s diagnosis is a service we all wish for our loved ones,” said Yves-Stephane Couture, Vice-President of Sales at DIAGNOS.
Diagnos first entered into an agreement with Optina on September 5, 2018, whereby Optina would use Diagnos’ Cloud services to upload images generated by Optina’s hyperspectral camera for early detection of Alzheimer’s disease via key biomarkers in the retina of the eye. With regards to the Company’s latest contract renewal with Optina, the terms remain the same. If you’re new here, Diagnos’ CARA is a Picture Archiving Communications System that performs enhancement and sharing of digital retinal images using a secure internet connection. As previously mentioned, Optina uses Diagnos’ Cloud platform to upload images to its Optina-4C™ hyperspectral camera to be used with the company’s awAIr™ Cerebral Amyloid Status test.
“By working with DIAGNOS, Optina will continue benefiting from rapid data exchange with eye clinics and physicians. This is a key element to support the development of our Retinal Deep PhenotypingTM diagnostic platform that enables the creation of new tests,” said David Lapointe, President and CEO of Optina.
Using Diagnos’ CARA Cloud platform, Optina’s proprietary retinal images are processed, securely stored, and are made available to be shared and reviewed by healthcare professionals and clinics in various locations around the world. With this in mind, Optina’s Retinal Deep Phenotyping™ diagnostic platform is intended to be an accessible, simple and non-invasive method of evaluating brain health. Utilizing a hyperspectral camera and an algorithm based on Artificial Intelligence (AI), this platform is expected to provide early detection and diagnosis of neurodegenerative diseases. For a more detailed explanation of Optina’s Retinal Deep Phenotyping™ platform, check out the video below.
It is worth noting that Optina is a privately held company and, for commercial reasons, the value of the contract will remain confidential. Details related to the contract remain relatively sparse, however, Diagnos has its foot in the right door. After all, the Alzheimer’s Disease Diagnostics Market was valued at USD$3.01 billion in 2020 and is expected to reach USD$5.23 billion by 2025, expanding at a CAGR of 7.30%.
Diagnos’ share price opened at $0.50 and was trading at $0.50 as of 9:40AM ET.
Full Disclosure: Diagnos is a marketing client of Equity Guru.
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