Builds on Notices of Allowance Previously
Issued by the USPTO for Two Related Patents Leveraging the Same
Approaches
FOXO Technologies Inc. (NYSE American: FOXO)
(“FOXO” or the “Company”), a leader in the field of commercializing
epigenetic biomarker technology, today announced that the United
States Patent & Trademark Office (USPTO) has provided an Issue
Notification for a key patent utilizing a machine learning model
trained to determine a biochemical state and/or medical condition
using DNA epigenetic data to enable the commercialization of
epigenetic biomarkers. Previously, the USPTO had issued Notices of
Allowance to the Company for two related patents and the Company
awaits Issue Notification for the second allowed patent.
The first patent, for which the Company has received an Issue
Notification, aids in practical applications of the technology that
include generating epigenetic biomarkers. On occasion, epigenetic
data may be missing or unreliable because a specific DNA site may
not have been assayed or was unreliably measured. The patent allows
the use of machine learning estimators to “fill in” the missing or
unreliable epigenetic values at specific loci.
The second patent, for which the Company received a Notice of
Allowance, leverages machine learning to estimate aspects about an
individual’s health, such as disease states, biomarker levels, drug
use, health histories, and factors used to underwrite mortality
risk. Commercial applications for this patent may include a
potential AI platform for the delivery of health and well-being
data-driven insights to individuals, healthcare professionals and
third-party service providers, life insurance underwriting,
clinical testing, and consumer health.
To support these patents, the Company has generated epigenetic
data for over 13,000 individuals through internally sponsored
research and external research collaborations. Pairing these data
with broad phenotypic information is expected to help drive product
development as demonstrated in the Company’s patent claims.
Mark White, Interim CEO of FOXO Technologies, stated, “As a
pioneer in epigenetic biomarker discovery and commercialization,
FOXO Technologies is dedicated to harnessing the power of
epigenetics and artificial intelligence to provide data-driven
insights that foster optimal health and longevity for individuals
and organizations alike. With a strong commitment to improving the
quality of life and promoting well-being, FOXO Technologies stands
at the forefront of innovation in the biotechnology industry, with
plans to leverage AI technology in order to expand into additional
commercial markets.”
“The newly granted patent underscores FOXO Technologies'
position as a leader in the convergence of biotechnology and
artificial intelligence. It represents a significant milestone in
the Company's mission to extend and enhance human life through
advanced diagnostics, therapeutic solutions, and lifestyle
modifications. Moreover, by combining the fields of epigenetics and
artificial intelligence, FOXO Technologies' pioneering approach
sets a new standard for personalized healthcare. This patent
represents a significant step forward in developing innovative
tools that empower individuals and healthcare professionals to make
informed decisions about health and well-being.”
Nichole Rigby, Director of Bioinformatics & Data Science at
FOXO Technologies, further noted, "The granting of these patents
reaffirms our commitment to pushing the boundaries to bring
together biotechnology and AI. We eagerly anticipate the
transformative impact of this technology on health solutions,
paving the way for healthier and longer lives for everyone."
About FOXO Technologies Inc. (“FOXO”)
FOXO, a technology platform company, is a leader in epigenetic
biomarker discovery and commercialization focused on
commercializing longevity science through products and services
that serve multiple industries. FOXO's epigenetic technology
applies AI to DNA methylation to identify molecular biomarkers of
human health and aging. For more information about FOXO, visit
www.foxotechnologies.com. For investor information and updates,
visit https://foxotechnologies.com/investors/.
Forward-Looking Statements
This press release contains certain forward-looking statements
for purposes of the “safe harbor” provisions under the United
States Private Securities Litigation Reform Act of 1995. Any
statements other than statements of historical fact contained
herein, including statements as to future results of operations and
financial position, planned products and services, business
strategy and plans, objectives of management for future operations
of FOXO, market size and growth opportunities, competitive position
and technological and market trends, are forward-looking
statements. Such forward-looking statements include, but not
limited to, expectations, hopes, beliefs, intentions, plans,
prospects, financial results or strategies regarding FOXO; the
future financial condition and performance of FOXO and the products
and markets and expected future performance and market
opportunities of FOXO. These forward-looking statements generally
are identified by the words “anticipate,” “believe,” “could,”
“expect,” “estimate,” “future,” “intend,” “strategy,” “may,”
“might,” “strategy,” “opportunity,” “plan,” project,” “possible,”
“potential,” “project,” “predict,” “scales,” “representative of,”
“valuation,” “should,” “will,” “would,” “will be,” “will continue,”
“will likely result,” and similar expressions, but the absence of
these words does not mean that a statement is not forward-looking.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: (i) the risk of changes in
the competitive and highly regulated industries in which FOXO
operates, variations in operating performance across competitors or
changes in laws and regulations affecting FOXO’s business; (ii) the
ability to implement FOXO’s business plans, forecasts, and other
expectations; (iii) the ability to obtain financing if needed; (iv)
the ability to maintain its NYSE American listing; (v) the risk
that FOXO has a history of losses and may not achieve or maintain
profitability in the future; (vi) potential inability of FOXO to
establish or maintain relationships required to advance its goals
or to achieve its commercialization and development plans; (vii)
the enforceability of FOXO’s intellectual property, including its
patents and the potential infringement on the intellectual property
rights of others; and (viii) the risk of downturns and a changing
regulatory landscape in the highly competitive biotechnology
industry or in the markets or industries in which FOXO’s
prospective customers operate. The foregoing list of factors is not
exhaustive. Readers should carefully consider the foregoing factors
and the other risks and uncertainties discussed in FOXO’s most
recent reports on Forms 10-K and 10-Q, particularly the “Risk
Factors” sections of those reports, and in other documents FOXO has
filed, or will file, with the SEC. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and FOXO assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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Crescendo Communications, LLC (212) 671-1020
foxo@crescendo-ir.com
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