USA News Group News
Commentary
Issued on behalf of Avant Technologies
Inc.
VANCOUVER, BC, Feb. 11,
2025 /PRNewswire/ -- USA News Group News Commentary –
Weeks after the monumental $500-billion announcement of Project Stargate,
which includes aims to transform healthcare, a growing number of
health executives are seeing the promise of Artificial Intelligence
(AI) in their industry. A recent poll from Deloitte found
that 40% of health execs say generative AI (genAI) pays off for
their businesses. Early in 2025, it's becoming clearer that genAI
is revolutionizing diagnostics, enhancing treatment options, and
personalizing patient care. Beyond Stargate's big players, a
growing number of innovators have been revolutionizing healthcare
by making recent developments, including updates coming from
Avant Technologies, Inc. (OTCQB: AVAI), Spectral AI,
Inc. (NASDAQ: MDAI), Tempus AI, Inc. (NASDAQ: TEM),
Absci Corporation (NASDAQ: ABSI), and GE Healthcare
(NASDAQ: GEHC).
The article continued: Overall AI is making a huge impact, with
analysts at BCC Research projecting that the AI
Revolutionizing Industries Market is set for 39.7% CAGR, reaching
$1.1 trillion by 2029. Additionally,
according to research by SNS Insider, the Generative AI in
Healthcare Market was valued at US$1.7
billion in 2023, and is projected to reach US$19.99 billion by 2032, growing at a robust
31.5% CAGR along the way.
Avant Technologies and Ainnova Advance Toward FDA Clinical
Trial with Selection of Top CRO
Avant Technologies, Inc. (OTCQB: AVAI), an emerging
leader in AI-driven healthcare innovation, and its partner,
Ainnova Tech, a leading healthcare technology company
focused on revolutionizing early disease detection using AI, today
announced the selection of Fortrea, a global provider
of clinical development solutions to the life sciences industry, as
the contract research organization (CRO) to conduct
Ainnova's upcoming clinical studies to seek approval from
the U.S. Food and Drug Administration (FDA) for
Ainnova's Vision AI platform.
Fortrea will assist Ainnova in requesting a
pre-submission meeting with the FDA for guidance on the
clinical testing needed for its Vision AI platform in the early
detection of diabetic retinopathy. After a pre-submission meeting,
Fortrea will then work with Ainnova on its FDA
submission and a subsequent clinical study before concluding with
an FDA 510(k) submission to obtain clearance from the FDA to
market its Vision AI platform.
The upcoming clinical studies are significant to Avant
and its shareholders because of the partnership formed by
Avant and Ainnova to advance and commercialize
Ainnova's technology portfolio, including its Vision AI
platform and its versatile retinal cameras. The joint venture
formed by the two companies, Ai-nova Acquisition Corp.
(AAC), has the licensing rights for this portfolio in the U.S.,
Canada, and Europe, so the success of Ainnova's
clinical studies with the FDA will be vital to marketing the
technology portfolio in the United
States.
"We worked diligently to identify and select the right CRO to
help us both engage the FDA and then conduct our clinical
studies," said Vinicio Vargas, CEO
of Ainnova regarding the selection. "Fortrea is an
established and highly regarded full-service CRO with expertise in
more than 20 therapeutic areas, and a CRO with an extensive
portfolio of successfully completed clinical trials, including
those involving both emerging and large biopharmaceutical, medical
device, and diagnostic companies."
With Fortrea's guidance, Ainnova expects to submit
its pre-submission application in the coming weeks and expects to
meet with the FDA for its pre-submission meeting in late
March/early April 2025.
Additionally, Ainnova will also interact with the
FDA to devise a plan to obtain clearance for four algorithms
it recently acquired the exclusive licensing rights to, which
include early detection for cardiovascular risk, prediabetes and
Type 2 diabetes, fatty liver disease, and chronic kidney
disease.
Late last year, Avant announced a game-changing
collaboration with pharma giant Roche, highlighting
Avant's ability to partner with global healthcare leaders
and leverage its innovative technologies for real-world impact.
Together with Ainnova and Salud 360, Avant set
forth to launch a pilot program to combat diabetic retinopathy has
been launched in Costa Rica. This
initiative uses VisionAI to automate retinal image analysis,
identifying early disease markers and facilitating timely
interventions. If successful, the program aims for broader adoption
in the United States, Canada, and Europe through AAC.
"At Roche, we are committed to timely diagnosis of
diseases to improve clinical outcomes and thus contribute to the
sustainability of the healthcare system," said, Alvaro Soto, General Manager of Roche
Central America, Caribbean, and Venezuela. "By leveraging technology, we
seek to improve lives, optimize diagnoses, and ensure that every
patient has access to timely and effective treatment. With this
model, we not only seek to address the problem of diabetic
retinopathy, but also to establish a replicable path for other
diseases that require innovative solutions."
CONTINUED… Read this and more news for Avant Technologies
Inc.
https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
Other recent industry developments and happenings in the
market include:
Spectral AI, Inc. (NASDAQ: MDAI), developer of the
AI-driven DeepView® System, which received Breakthrough Device
Designation from the U.S. Food and Drug Administration ("FDA") in
2018 and uses multi-spectral imaging and AI algorithms to predict
burn healing potential, recently announced the completion of its
data analytics for its U.S. Burn Pivotal Study.
One of the largest domestic burn studies ever conducted, the
U.S. Burn Pivotal Study is designed to validate the AI-driven
algorithm used by Spectral AI's DeepView® System for its
burn indication. Spectral AI's DeepView® System is a
predictive medical device and associated software that assesses the
healing potential of burn wounds by combining multispectral imaging
with an AI-driven algorithm trained and tested against a
proprietary database of more than 340 billion clinically-validated
data points. By distinguishing between healing and non-healing
tissue, the DeepView® System provides an immediate and binary
prediction of wound healing on the same day of injury, benefiting
clinical decision-making regarding next step treatment.
"After completing the image analysis and truthing of our U.S.
Burn Pivotal Study, I am highly encouraged by the sensitivity and
specificity results of our DeepView® System when compared to the
wound healing potential as determined by treating physicians," said
Dr. J. Michael DiMaio, MD, Chairman
of the Board at Spectral AI. "These results underscore the
transformative impact of the DeepView® System and its attendant use
of artificial intelligence in burn wound care, offering clinicians
an immediate, data-driven assessment tool that can improve
treatment decisions and patient outcomes. The dedication of our
team in reaching this critical FDA submission milestone
cannot be overstated, and we remain committed to bringing this
breakthrough technology to burn care institutions across the
U.S."
Tempus AI, Inc. (NASDAQ: TEM), a technology company
leading the adoption of AI to advance precision medicine and
patient care, recently announced the national launch of olivia, an
AI-enabled personal health concierge app designed to empower
patients by bringing their health-related data into one central
location and leveraging advanced AI to provide actionable
insights.
"At Tempus, our goal has always been to improve patient
outcomes by harnessing the power of data and AI," ," said
Eric Lefkofsky, Founder and CEO of
Tempus. "Now, as AI becomes increasingly integrated into
healthcare, tools like olivia will be essential in helping patients
understand and navigate their care. This app goes beyond organizing
information; it's a proactive partner empowering patients to steer
their health with confidence and clarity."
The newly launched AI-powered health platform centralizes
patient data, making it easy to access and act on through a unified
app. It integrates with over 1,000 health systems, syncs with
health devices, and allows manual uploads, organizing records into
a dynamic timeline with AI-driven insights. Key features include a
Smart Profile Summary, AI-enabled notetaker for doctor visits,
medical image sharing, and health monitoring, helping patients
track their health and receive personalized, data-informed
responses.
Absci Corporation (NASDAQ: ABSI), a data-first generative
AI drug creation company, and Owkin, a TechBio that uses
agentic AI to unlock complex targets for drug discovery,
development, and diagnostics, recently announced a partnership to
develop novel immuno-oncology and inflammation therapies by
combining AI-driven target selection with generative antibody
design. Owkin's predictive AI validates targets using
biomedical data, while Absci's AI platform rapidly designs
therapeutic candidates, aiming to accelerate drug development.
"At Absci, we're constantly pushing the boundaries of
innovation to bring better biologics to patients faster," said
Sean McClain, Founder and CEO of
Absci. "By combining Absci's AI de novo design expertise with Owkin's
world-class predictive AI target discovery technology, we have a
unique opportunity to design first-in-class and potentially
transformative therapeutics for patients in need."
GE Healthcare (NASDAQ: GEHC) also recently announced that
it received 510(k) clearance from the FDA for the updated
portfolio of its Voluson™ Expert Series ultrasound systems. Voluson
Expert 22, 20 and 18 combine high resolution image quality with
advanced ultrasound technology and an ergonomic design for
efficient workflow and a world-class user experience.
The Voluson Expert Series integrates artificial intelligence
(AI)-powered features and automation tools to help drive imaging
performance and efficiencies in women's healthcare.
"We are proud to introduce these updates to the Voluson Expert
ultrasound systems, which represent our ongoing commitment to
advancing technology that addresses women's health needs of today,
and the future," said Gerald Seifriedsberger, General Manager,
Women's Health, Advanced Visualization Solutions, GE
HealthCare. "By introducing solutions that offer unparalleled
clarity and detail, we can empower users with critical insights for
informed care decisions and efficient exams, transforming how
clinicians approach healthcare. Together, we can create a healthier
future for all women."
Source:
https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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