Predictmedix Technology to mass screen for potential cases of COVID-19
TORONTO, April 27, 2020 /PRNewswire/ - Predictmedix Inc. (CSE: PMED) (OTCQB: PMEDF) ("Predictmedix" or the "Company") is pleased to announce that it has filed Patent Application Number 63012510 – Artificial Intelligence driven rapid screening system for infectious diseases, such as SARS-CoV-2 virus responsible for COVID-19, with the United States Patent and Trademark Office.
COVID-19 and the need for mass screening
COVID-19 pandemic has turned into a threat for global security and economic stability, resulting in unprecedented job losses not seen since the great depression. Identification and tracking of an infectious disease or an outbreak of a global pandemic is a critical element of controlling the spread of disease across geographical areas. Furthermore, infectious diseases such as COVID-19 are likely to return in waves until there is mass vaccination or development of population level immunity. As such, there is a significant urgent need to have mass screening technologies which can identify potential COVID-19 cases without the need for human intervention and can be deployed in places where there is movement of large number of people. For instance, but not limited to, healthcare, transit hubs, airports, malls, shopping centers, casinos, concerts, arenas and office buildings.
One of the primary factors leading to the outbreak of COVID-19 virus has been the relative lack of rapid screening tools for the masses. The lack of such tools has resulted in a failed containment effort which led to a global pandemic and an unprecedented economic disruption.
Predictmedix has developed a proprietary technology (patent pending) to screen for potential cases of COVID-19 and other related infectious diseases. There is no need for any bodily fluids and there is no human exposure as the screening is carried out using multispectral cameras which can be installed at any facility.
The artificial intelligence ("AI") powered technology utilizes multispectral imaging with a focus on visual spectral imaging along with infrared thermography to identify cases which are suspected of COVID-19. The AI technology monitors and identifies potential presence of COVID-19 associated symptoms such as fatigue, headache, coughing, sneezing, blood flow, sweat gland activation, metabolism, fever along with other key determinant factors.
The technology can be deployed using multispectral cameras in facilities where there is large movement of people to identify potential COVID-19 cases and limit exposure, thereby limiting infection. The data collected is brought into a central server / cloud for analysis and alerts are sent in case of a positive detection.
"There is not going to be a medical breakthrough such as a vaccine or drug that is going to solve the COVID-19 problem soon. We have applied travel bans and physical distancing orders to our society which has had a devastating impact on our economy and way of life. With Predictmedix's AI technology we could be much more tactful in our approach. Strategically placed multispectral cameras, installed in airports for example, could collect biometric data on individual passengers en masse. Predictmedix's AI technology can analyze that data and predict which passengers should be flagged for secondary screening, definitive testing or even quarantine while allowing others to travel unimpeded. This could allow our societies and economies to mobilize again while preventing further spread of this disease." said Dr. Alexander Bardon, an Emergency Medicine physician in Ontario and an advisor to Predictmedix.
"This is a major milestone for healthcare operations of Predictmedix as it truly establishes our infectious disease vertical and brings us closer to deployment and revenue generation", said Dr. Rahul Kushwah, COO of Predictmedix.
Disclaimer: "The Company is not making any express or implied claims that its mass screening product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time".
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About Predictmedix Inc.
Predictmedix Inc. is an artificial intelligence ("AI") company developing disruptive tools for impairment testing and healthcare. It is intended that the Company's cannabis and alcohol impairment detection tools will be used across various workplaces and by law enforcement agents. Its technology uses facial and voice recognition to identify both cannabis and alcohol impairment by utilizing multiple features along with numerous different data points. Testing does not require any body fluids or human intervention, thereby helping to remove human error and the potential for discrimination and prejudice. The Company has partnered with Tech Mahindra and Hindalco to help expedite the launch of its impairment technology, as well as the prestigious Indian Institute of Technology.
The Company is also developing AI based screening for the healthcare industry. The recent advent of COVID-19 pandemic has placed unprecedented stress on the global economy and highlights the need for tools to help screen mass populations for infectious diseases, with the hope of preventing pandemics in the future. In turn, Predictmedix Inc. is expanding its proprietary AI technology to screen for infectious diseases such as influenza and coronaviruses (COVID-19). Our current partners along with advisory board members have played a key role in gathering data pertaining to COVID-19, which has allowed us to develop a predictive mass screening tool for COVID-19. The technology is for mass screening and is to be used to predict and identify individuals who have the highest likelihood of being infected with COVID-19.
Additionally, psychiatric disorders such as depression, dementia and Alzheimer's disease can carry a significant burden and early identification is the key to better management. To help address this, the Company is also expanding its proprietary AI technology to screen for psychiatric and/or brain disorders such as depression, dementia and Alzheimer's disease. To find out more visit us at www.predictmedix.com
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
SOURCE Predictmedix Inc.