Treatment.com AI Inc. (CSE: TRUE, OTC: TREIF, Frankfurt: 939) (the
“Company” or “Treatment AI”) is pleased to provide a general
corporate update. Treatment AI has been working diligently through
Q1 and Q2 to ensure continued evolution of its platform (Global
Library of Medicine or GLM) and strengthening its pipeline for new
business and partnerships. A few key milestones the Company has
accomplished include:
Financial Update
On March 13, 2024, the company completed an oversubscribed
non-brokered private placement of 6,295,500 special warrants and
975,000 units issued at $0.40 each for aggregate gross proceeds of
$2,908,200. Each unit consists of one share and one-half of one
warrant. Each whole warrant is exercisable for one share at the
strike price of $0.60 for a period of two years. We are pleased to
report that on June 21, 2024, the special warrants converted to
free trading units.
The Company is also pleased to announce that it is now debt
free, having closed a debt settlement transaction with arm’s-length
creditors in March, 2024 settling an aggregate amount of
$461,307.40 in debt and the recently announced debt settlement
transaction on June 27, 2024, whereby the Company shall settle an
additional $650,000 in debt with arm’s-length creditors, which is
anticipated to close in the near term.
Dr. Essam Hamza, CEO states “We are very appreciative of the
strong investor support for our company. This is a critical
inflection point for the company, the significant infusion of cash
is helping expedite the tremendous commercial opportunity in front
of us. We also look forward to the exercising of the warrants which
could bring another over $2 million to the treasury.”
New Partnerships Announced
Treatment AI recently announced two new partnerships with
aiXplain and Novus Health.
aiXplain: Enables greater access to Treatment AI’s
proprietary Global Library of Medicine (“GLM”) by contributing to
aiXplain’s ever-growing dynamic Artificial Intelligence (AI)
marketplace.
The collaboration also allows aiXplain and Treatment AI to work
closely on testing and the development of further new mutual joint
commercial applications and/or solutions for a global market.
Novus Health: An acknowledged leader in health navigation
supporting over 1.5 million members and their families. Novus
Health works with a number of leading North American Health
Insurers and has built a trusted navigation platform that
simplifies health care experiences by bringing together everything
an individual needs to successfully manage their care journey.
Treatment AI and Novus Health are looking to collaborate to build
out new and differentiated solutions for the Health Risk Assessment
and Medical Second Opinion markets.
GLM - Further Validation of Treatment AI’s Accuracy and
Effectiveness
While reservations persist in how AI can be meaningfully and
safely used in healthcare, Treatment AI continues to demonstrate
the platform's accuracy and effectiveness. Treatment AI recently
conducted a trial where a student, using our platform, successfully
examined 12 test patients under OSCE conditions. The Objective
Structured Clinical Examination (“OSCE”), is a standard clinical
exam of diagnostic aptitude at medical and nursing schools in 57
countries globally.
The student, without any prior medical training, entered
basic patient information and followed Treatment’s AI platform
guided prompts to complete individualized assessments. The student
then wrote clinical notes summarizing findings and suggested
diagnoses. The results were impressive, with the student
achieving an accuracy rate of >92% (11 of 12 cases) in
diagnosing complex conditions, including colon cancer,
appendicitis, acute myocardial infarction, diabetes, and patellar
tendonitis. These results are significantly above results expected
from medical students taking the same examinations.
Bolstering the Executive, Scientific and Development
Team
Richard Atkins – Appointed Chief Operating Officer
Mr. Atkins brings to the business a successful career with over
30 years’ experience in international sales, partnerships,
executive management and M&A, highlighted by multiple
multi-million dollar deals working with both major health-tech and
software corporations.
Mr. Atkins spent his formative career in software and technology
including: networking, managed services, data centers &
virtualization, omnichannel contact centers, CRM, enterprise
search/ data analytics, cloud-based applications. However, for the
past 15 years, he has brought his experience to healthcare, working
across the continuum of care, with a focus on clinical decision
support. His experience spans innovative international physical and
mental health solutions including:- (i) Digital Health –
healthbots, symptom checkers, telehealth, Alexa voice and social
media solutions (ii) National/Provincial teletriage services (iii)
Managed PACS/RIS and LIM services in both public/private sectors
(iv) EMR/Billing and HL7/FHIR interoperability.
Dr. Jean Challiner – Executive Advisor
Dr. Challiner is a globally acknowledged expert in clinical
decision support. As a doctor with a wealth of clinical experience,
Dr. Challiner has helped pioneer specialized technology enabling
the delivery of healthcare services since 2002, with a focus on the
highest quality of clinical governance.
Dr. Challiner’s career began as a General
Practitioner, moving to Accident & Emergency with a particular
interest in pre-hospital care. Dr Challiner received a fellowship
in Immediate Medical Care from the Faculty of Pre Hospital Care at
the University of Edinburgh, Scotland in 2001.
For more than 20 years, Dr. Challiner has held
Executive positions, including Medical Director or Executive
Director roles with both public bodies (including the UK National
Health Service (NHS), one of the world’s pre-eminent healthcare
systems) and commercial organizations, as well as advisory roles
with several early-stage companies. Dr. Challiner’s
responsibilities have encompassed clinical decision support
constructs, governance and clinical safety.
Dr. Challiner’s work with organizations globally
has helped them transform local and national healthcare services
and patient self assessment in countries as diverse as the UK, US,
Australia, New Zealand, Portugal, Scandinavia, Brazil and
Ghana.
Given her experience with both national pandemic
projects and public health alerts (including Swine Flu;
Legionnaires disease; UK Polonium incident and Ebola outbreak in
Africa), Dr. Challiner was recently included in the NHS COVID
pandemic Governance Team.
Aligning with Treatment AI’s vision for health
equity, Dr. Challiner is also passionate and committed to the
delivery of value based healthcare.
Development Team
Treatment AI has also significantly invested in
and expanded its Development team through the second quarter of
2024 to help accelerate planned evolution of the Global Library of
Medicine.
As a result, Treatment AI recently announced two
new monthly subscription-based SaaS solutions for students,
residents and all healthcare professionals expected to launch in H2
2024:
●AI Patient – utilizing AI and a library of test cases to
further support students in their preparation and readiness for
medical multiple-choice questions (MCQ’s) and OSCE clinical
exams.
●AI Doctor in a Pocket – delivers a mobile friendly AI
powered clinical decision support tool for healthcare professionals
and students when they are in clinics or the hospital.
FOR ADDITIONAL INFORMATION, CONTACT:
Dr. Essam Hamza, CEO
ehamza@treatment.com
If you would like to find out more about Treatment’s products
and services, please email at info@treatment.com
For media inquiries, contact: media@treatment.com
Call: +1 (612) 788-8900 / Toll-Free USA/Canada: +1 (888)
788-8955
Cautionary Statements
This news release contains forward-looking statements that are
based on Treatment.com AI’s expectations, estimates and projections
regarding its business and the economic environment in which it
operates, including with respect to the implementation of its
shareholder communications initiative and the timing thereof.
Although Treatment.com believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and
involve risks and uncertainties that are difficult to control or
predict. Therefore, actual outcomes and results may differ
materially from those expressed in these forward-looking statements
and readers should not place undue reliance on such statements.
These forward-looking statements speak only as of the date on which
they are made, and Treatment.com undertakes no obligation to update
them publicly to reflect new information or the occurrence of
future events or circumstances, unless otherwise required to do so
by law.
The Canadian Securities Exchange does not accept responsibility
for the adequacy or accuracy of this release.