DIAGNOS Receives Medical Device Marketing Authorization from the Saudi Food and Drug Authority to commercialize CARA in Saudi...
September 10 2019 - 8:00AM
Diagnos Inc. (“DIAGNOS” or “the Corporation”) (TSX Venture:ADK),
(OTCQB: DGNOF), a leader in early detection of critical health
issues through the use of Artificial Intelligence (AI), announces
today Medical Device Marketing Authorization for the corporation’s
CARA application from the Saudi Food and Drug Authority (SFDA).
“Registering and receiving the authorization to
market our CARA platform from the local health authorities is of
the utmost importance for us and represents a key milestone as part
of our commercialization plan in Saudi Arabia. The approval from
the SFDA will provide greater confidence to our customers in Saudi
Arabia in our ability to meet the highest regulatory requirements
for medical devices such as CARA. We are confident that this
authorization to market CARA will shorten the sales cycle in Saudi
Arabia,” said Yves-Stephane Couture, Vice-president of sales
of DIAGNOS.
As per the International Diabetes Federation,
these are the diabetes key metrics in Saudi Arabia:
Total adult population:
20,770,000Prevalence of diabetes in adults:
18.5%Total cases of diabetes in adults:
3,852,000
“I would like to capitalize on this moment and
send my sincere congratulations to both DIAGNOS team and their
partners at KANHOOR who worked together so hard to secure this
milestone. We are sending a strong message to all the stakeholders
in the healthcare sector in Saudi Arabia that we are committed to
help in addressing the challenges generated by the urgency to do
mass screening for retina affected by Diabetes after a successfull
clinical tests of more than 3,000 patients. I hope that everybody
will look at this exercise as a strategic move.” said Abdul-Aziz
Rashid Al-Mugait, General Manager of Kanhoor Medical Co.
With the authorization to commercialize CARA
from the SFDA, the Corporation is convinced that this will have a
direct positive impact on the sales development activities with our
local partner, Kanhoor Medical Co, to screen more patients to
prevent blindness.
About DIAGNOSDIAGNOS is a publicly-traded
Canadian corporation with a mission of early detection of critical
health issues through the use of its Artificial Intelligence (“AI”)
tool CARA (Computer Assisted Retina Analysis). CARA is a
tele-ophthalmology platform that integrates with existing equipment
(hardware and software) and processes at the point of care. CARA’s
Artificial Intelligence image enhancement algorithms make standard
retinal images sharper, clearer and easier to read. CARA is
accessible securely over the internet, and is compatible with all
recognized image formats and brands of fundus cameras, and is EMR
compatible. CARA is a cost-effective tool for screening large
numbers of patients in real-time. CARA complies with local
regulations, is FDA cleared for commercialization in the United
States of America is Health Canada licensed for commercialization
in Canada and is CE marking compliant in Europe.
Additional information is available at
www.diagnos.com and www.sedar.com
For further information, please contact:
Mr. André Larente, PresidentDIAGNOS Inc.Tel:
450-678-8882 ext. 224alarente@diagnos.ca
About Kanhoor Medical CoAl Kanhoor is focusing
on telemedicine in the Kingdom of Saudi Arabia providing technology
for remote patient observation, marketing DIAGNOS suite of products
in Saudi Arabia and the Middle- East.
This news release contains forward-looking
information. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in these
statements. DIAGNOS disclaims any intention or obligation to
publically update or revise any forward-looking information,
whether as a result of new information, future events or otherwise.
The forward-looking information contained in this news release is
expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Diagnos (TSXV:ADK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Diagnos (TSXV:ADK)
Historical Stock Chart
From Apr 2023 to Apr 2024