InvestorNews is hosting an InvestorTalk this morning with André Larente, CEO, President, and Director from DIAGNOS Inc. (TSXV: ADK | OTCQB: DGNOF) at 9 AM EST. To participate in the InvestorTalk, please click here

DIAGNOS has 76,648,586 shares outstanding and a market cap of CAD$22,994,576.

In preparing for this morning’s InvestorTalk here are the latest news releases for your review:

• April 16, 2024 — DIAGNOS to expedite application for Medical Device License to Health Canada and US FDA related to its 4 new analysis modules, and is planning ISO 27001 certification — click here
• April 9, 2024 — DIAGNOS Inc. to Present at the Technology Hybrid Investor Conference April 11th — click here
• April 2, 2024 — DIAGNOS Welcomes Dr. Philippe Couillard to its Board of Directors — click here

5-Data Points from the most recent news release:

1. Approval Process: Diagnos Inc. is working to obtain Health Canada and U.S. FDA approvals for four additional AI analysis modules, with plans to commercialize these during Q3 2024.
2. Module Functions: The new AI modules are designed to assist healthcare professionals in identifying abnormal Optical Coherence Tomography (OCT) retinal images and in grading Fundus images for signs of AMD (Age-Related Macular Degeneration), DR (Diabetic Retinopathy), and HR (Hypertensive Retinopathy).
3. Impact on Revenue and Distribution: The modernization of Diagnos’ Health Canada license is seen as essential for distribution partnerships, including with Essilor Luxottica for the Canadian market, and for potential expansion into the U.S. market. This expansion is expected to accelerate revenue growth for Diagnos.
4. ISO 27001 Certification: Diagnos is also progressing towards obtaining ISO 27001 Cyber Security certification, which is a requirement from current and prospective customers to enhance data security.
5. Company Background and AI Platform: Diagnos is a publicly traded company on the TSX Venture Exchange and the OTCQB. It specializes in early detection of critical health issues using its FLAIRE AI platform, which supports the development and application of AI technologies such as CARA (Computer Assisted Retina Analysis) for enhanced retinal image analysis.

(04.24.2024 – Premarket, Source)

The last InvestorNews Interview was on December 14, 2023, and was titled: Andre Larente from DIAGNOS on Deal with World’s Largest Eyecare Retailer EssilorLuxottica

In the pre-open market, Canadian futures were down, influenced by sliding copper prices and investor caution ahead of significant domestic economic data. In contrast, U.S. main index futures remained muted, with a week full of major events, including the Federal Reserve’s interest rate decision and key tech earnings, potentially setting Wall Street’s direction following a record-breaking rally. European equities saw a slight rise, bolstered by the strength in the energy sector. Asian markets presented a mixed picture: Chinese stocks fell despite new government curbs on short selling, while Japan’s Nikkei ended higher. The U.S. dollar strengthened in anticipation of the Fed meeting during a week heavy with data, and gold prices increased, buoyed by escalating Middle East tensions. Oil prices also rose, driven by concerns over supply disruptions.

In the world markets, Euro STOXX 50 futures dropped 11 points to 4,644, FTSE futures lost 12 points to 7,620.5, and German DAX futures decreased 58 points to 17,005, all as of 0530 GMT. Japan’s Nikkei share average saw gains, propelled by a jump in oil prices and a weaker yen boosting investor sentiment. The rise in oil prices was partly due to a drone attack on U.S. forces in Jordan, escalating worries over supply disruptions in the Middle East.

This week marked a significant period in the earnings season, with 19% of S&P 500 and Dow Jones Industrial Average companies reporting. Among them, major tech companies like Microsoft Corporation (NASDAQ: MSFT), Alphabet Inc. (NASDAQ: GOOGL), Amazon.com, Inc. (NASDAQ: AMZN), Meta Platforms, Inc. (NASDAQ: META), and Apple Inc. (NASDAQ: APPL), were in the spotlight, especially at a time when these firms have been executing layoffs. The key reports also extended beyond tech, with major companies like The Boeing Company (NYSE: BA), General Motors (NYSE: GM), and Starbucks Corporation (NASDAQ: SBUX) set to reveal their earnings. The pharmaceutical sector also anticipated big news, headlined by Novo Nordisk (NYSE: NVO), amid a surge in market cap due to the boom in weight loss drugs.

Significant developments are expected in the semiconductor industry. President Joe Biden’s administration was reported to be awarding billions in subsidies to top semiconductor companies, including Intel Corp and Taiwan Semiconductor Manufacturing Co, to support new factory construction in the U.S. This move aimed to boost the manufacturing of advanced semiconductors vital for smartphones, artificial intelligence, and weapons systems.

In the corporate world, Microsoft and Apple were in focus. Microsoft’s early lead in artificial intelligence positioned it to potentially surpass Apple in market value over the next five years, a sentiment unanimously agreed upon by 13 institutional investors.

A dispute arose between Spotify Technology SA and Apple Inc, with Spotify criticizing Apple’s new plan to align with the European Union’s Digital Markets Act as “a complete and total farce.”

In Europe and Asia, a Hong Kong court ordered the liquidation of China Evergrande Group, potentially impacting China’s financial markets. A drone attack in Jordan, attributed to Iran-backed militants, targeted U.S. troops, causing casualties. In the aviation sector, a new safety crisis for Boeing and industry-wide disruptions were topics of discussion among airline industry financiers. Additionally, Switzerland’s Holcim announced plans to spin off its North American operations in a significant New York flotation.

United Airlines considered acquiring more Airbus A321neo jets, possibly to compensate for the delayed Boeing 737 MAX 10. Meanwhile, the John Lewis Partnership contemplated significant job cuts, and Ryanair Holdings Plc adjusted its profit forecast due to changes in its sales strategy.

In the automotive sector, Toyota Motor Corp announced the suspension of shipments of certain models, including the Hilux truck and Land Cruiser 300 SUV, due to irregularities in diesel engine certification tests.

From India, the federal government planned to keep its gross market borrowing for 2024/25 close to the current fiscal year’s level. Vedanta, an Indian conglomerate, reported a smaller-than-expected drop in third-quarter profit. The country also witnessed a heightening of sectarian tensions, with a powerful Hindu group claiming several mosques were built over demolished Hindu temples. In a significant collaboration, India’s Tata Group and France’s Airbus agreed to manufacture civilian helicopters together. Lastly, the artificial intelligence startup Krutrim, founded by Ola Electric’s CEO Bhavish Aggarwal, raised $50 million in its first funding round, reaching a valuation of $1 billion.

Mark your calendar for this week’s InvestorTalk and sign up for our pre-market events.

9-920 AM EST
Wednesday, January 31, 2024
InvestorTalk with Terry Lynch from Power Nickel Inc. (TSXV: PNPN | OTCQB: PNPNF)
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9-920 AM
Thursday, February 1, 2024
InvestorTalk with Tawana Bain from American Clean Resources Group, Inc. (OTC: ACRG)
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InvestorNews host Tracy Weslosky recently conducted an insightful interview with André Larente, President and Director of DIAGNOS Inc. (TSXV: ADK | OTCQB: DGNOF), to discuss the company’s exclusive distribution agreement with EssilorLuxottica. DIAGNOS, known for its pioneering FLAIRE platform based on Artificial Intelligence (AI), has solidified its position as a leading provider of retinal analysis technology through this partnership. This agreement, announced on December 11th, is a significant milestone for DIAGNOS, signaling its growing influence in the AI and healthcare technical services sector.

During the interview, Larente highlighted the capabilities of DIAGNOS’ AI-powered retinal image analysis technology, which has been acclaimed for its role in the early detection of various eye conditions. This breakthrough technology not only enhances the quality of eye health care but also significantly impacts patient lives positively. The partnership with EssilorLuxottica, a global leader in vision care with an $87Bn market cap, is set for an initial three-year term with potential for renewal.

Under the agreement, DIAGNOS will be compensated on a per patient exam basis across EssilorLuxottica’s client network. Larente expressed his pride in the partnership, emphasizing the pivotal role it plays in DIAGNOS’ mission to broaden the accessibility of its retinal analysis technology. This collaboration is expected to contribute significantly to visual health in Canada and potentially the USA. Both DIAGNOS and EssilorLuxottica are committed to advancing eye health and technology, with a focus on offering innovative solutions to optometrists that will transform the early detection and quality of eye care in the region.

In summary, DIAGNOS’ exclusive distribution agreement with EssilorLuxottica marks a key development in its journey, reinforcing its commitment to revolutionizing eye health care through advanced AI-based technologies. This collaboration is set to make a profound impact on the early detection and treatment of eye conditions, benefiting a wide range of patients and healthcare providers.

To access the complete interview, click here

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About DIAGNOS Inc.
DIAGNOS is a publicly traded Canadian corporation dedicated to early detection of critical health problems based on its FLAIRE Artificial Intelligence (AI) platform. FLAIRE allows for quick modifying and developing of applications such as CARA (Computer Assisted Retina Analysis). CARA’s image enhancement algorithms provide sharper, clearer and easier-to-analyze retinal images. CARA is a cost-effective tool for real-time screening of large volumes of patients.

To learn more about DIAGNOS Inc., click here

Disclaimer: DIAGNOS Inc. is an advertorial member of InvestorNews Inc.

This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This interview and any transcriptions or reproductions thereof (collectively, this “presentation”) does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase any securities in the Company. The information in this presentation is provided for informational purposes only and may be subject to updating, completion or revision, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any information herein. This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. This presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisors. Each person to whom this presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. Prospective investors are urged to review the Company’s profile on SedarPlus.ca and to carry out independent investigations in order to determine their interest in investing in the Company.

DIAGNOS Inc. (TSXV: ADK | OTCQB: DGNOF), a company we have followed for several years out of Montreal, announced a landmark move for the Canadian healthcare sector this morning. DIAGNOS Inc., a pioneer in artificial intelligence (AI)-driven health solutions, has announced a significant distribution agreement with global ophthalmic leader EssilorLuxottica. This exclusive Canadian contract, unveiled on December 11, 2023, signifies a pivotal moment for DIAGNOS, cementing its place in the market with its cutting-edge retinal analysis technology.

Renowned for its effectiveness in the early detection of eye conditions, DIAGNOS’s technology will now reach a broader audience through EssilorLuxottica’s expansive network, promising an enhancement in the quality of eye health care. The three-year agreement, which includes a renewal option, entails a per-patient exam payment model to DIAGNOS. André Larente, DIAGNOS’ President, highlighted this partnership’s role in broadening the accessibility of their innovative technology, aligning with their mission to foster visual health in Canada and globally.

Market Watch: Global and US Economic Indicators

As the business day commences, futures indicate a downtrend, shadowing a dip in commodities like oil and gold. In the U.S., we are awaiting the Federal Reserve’s monetary policy meeting and upcoming inflation data, which will shed light on the possibility of a soft landing for the economy. European shares are also experiencing a downturn, while Japan’s Nikkei has seen a rebound. The U.S. dollar is gaining strength against the Japanese yen.

U.S. Central Bank’s Interest Rate Decision

The U.S. Federal Reserve is set to release its interest rate decision on Wednesday, following last month’s unchanged benchmark rate. Wall Street is increasingly optimistic about maintaining the status quo in December, as efforts to curb inflation without triggering a recession seem fruitful.

In recent global and U.S. economic updates, the market is witnessing a downward trend in futures, mirroring declines in commodities such as oil and gold. Investors in the U.S. are particularly focused on the upcoming Federal Reserve’s monetary policy meeting and the release of inflation data, which are crucial in assessing the prospects of a soft economic landing. Meanwhile, European shares are experiencing a downturn, in contrast to Japan’s Nikkei which has shown a rebound. The U.S. dollar is strengthening against the Japanese yen.

The U.S. Federal Reserve is poised to announce its decision on interest rates this Wednesday, following a period of unchanged rates. There’s a growing sentiment on Wall Street that the Fed might maintain the current rates in December, buoyed by successful measures to control inflation without pushing the economy into recession.

Some Business News Highlights:

• In corporate developments, French AI company Mistral AI, founded by ex-employees of Meta and Google, has raised €385 million in a second funding round, marking a significant milestone. This funding, led by investors such as Andreessen-Horowitz and LightSpeed Ventures, positions Mistral AI as a key player in the global AI landscape. The company also launched Mixtral 8x7B, an AI platform intended to compete with leading AI platforms like OpenAI’s ChatGPT and Google’s Bard.
• In the healthcare sector, U.S. insurer Cigna (NYSE: CI) has ended its merger talks with Humana Inc. (NYSE: HUM), citing price disagreements, and instead announced a significant $10 billion share buyback plan. This development follows several years after regulatory interventions blocked major consolidations in the health insurance sector.
• In the tech industry, NVIDIA Corporation (NASDAQ: NVDA) is expanding its footprint in Vietnam, partnering with leading tech companies in the country. This expansion, announced by NVIDIA’s CEO, focuses on AI and digital infrastructure, aligning with Vietnam’s ambitions to advance in chip design and manufacturing, especially in the context of ongoing U.S.-China trade tensions.
• In the energy sector, Occidental Petroleum Corp. (NYSE: OXY) has confirmed its acquisition of CrownRock, an energy producer in the Permian basin, in a $12 billion deal. This acquisition is a strategic move for Occidental’s growth in the energy sector.
• TC Energy Corp.’s (TSX: TRP | NYSE: TRP) Coastal GasLink project is currently facing legal challenges due to construction delays, which could significantly impact its financial liabilities. This comes as the C$14.5 billion project was completed at over double its initial budget.
• In corporate leadership news, Tellurian Inc. (NYSE American: TELL) has announced a major change by removing its chairman and co-founder, Charif Souki, from his executive role. This change is part of the company’s strategy to improve its prospects, particularly focusing on its Driftwood LNG project.
• Tesla Inc. (NASDAQ: TSLA) is under pressure from Nordic pension funds to respect collective bargaining rights for its employees. Concurrently, the company is defending its use of “Autopilot” and “self-driving” terminology amid regulatory examination in California.

Globally, the Middle East continues to experience intense conflict with no resolution in sight. The UK’s manufacturing sector is showing signs of recovery, which could bolster the sector in the coming year. UK Prime Minister Rishi Sunak faces a critical week with a COVID-19 inquiry and a key parliamentary vote on asylum policy. The EU has reached a provisional deal on AI regulation, which includes governing biometric surveillance. Bosch is adapting to changing auto sector demands, leading to significant job cuts. Signa Development Finance’s potential insolvency proceedings highlight ongoing market challenges. Lastly, BP Plc’s Bilbao Plant sale to Gunvor reflects BP’s strategic transformation and commitment to becoming a net-zero company.

We kicked off our morning by tweeting our Top 10 Trending columns and videos for the last week that we encourage you to review:

1. Top 10 Trending on #InvestorNews, in the #1 Position, READ: #TechnologyMetals Week-in-Review: The British Stake Claim in #Quebec and the #Uranium Boom in North America https://bit.ly/47jhbmH cc: @IN8News @Energy_Fuels @F3Uranium @Ucore @FirstPhosphate @CriticalMnlInst #criticalminerals
2. Top 10 Trending on #InvestorNews, in the #2 Position, READ: The #CriticalMineralsInstitute Report (CMI 11.2023): #Neodymium price is down 33% over the Past Year, Record Plug-In #EV Car Sales for September https://bit.ly/3QV2dfE cc: @IN8News #RareEarths #Lithium #ElectricVehicles @CriticalMnlInst #criticalminerals
3. Top 10 Trending on #InvestorNews, in the #3 Position, READ: Harris Administration’s $3.5 Billion Investment in U.S. #Battery Manufacturing and #CleanEnergy Transition https://bit.ly/46hagJe cc: @IN8News #criticalminerals #Biden @CriticalMetals_ @CriticalMnlInst
4. Top 10 Trending on #InvestorNews, in the #4 Position, READ: Update on the #Teck and #Glencore deal: “Never Fear, the Feds are Here” https://bit.ly/4a1fUlR cc: @IN8News #MetallurgicalCoal @TeckResources @Glencore
5. Top 10 Trending on #InvestorNews, in the #5 Position, READ: Exploring the Future of #Battery Technology and #CriticalMinerals https://bit.ly/3G4HSQ1 cc: @IN8News @CriticalMnlInst @FirstPhosphate
6. Top 10 Trending on #InvestorNews, in the #6 Position, WATCH: Progress in #Pathogen Defense, Dr. Carolyn Myers Discusses #FendX’s Collaboration with Dunmore for #REPELWRAP™ https://youtu.be/rLDSZ8KMBqs via @YouTube #Nanotechnology #PathogenRepellent #VirusRepellent #DiseaseControl @FendXTech $FNDX.C $FDXTF
7. Top 10 Trending on #InvestorNews, in the #7 Position, WATCH: Greg Fenton on how #Zentek’s Advancement in #Aptamer Technology is Revolutionizing #Biotech https://youtu.be/LJrNda7ZHRQ via @YouTube #PathogenDetection #ZenGUARD #HVACFilters @ZentekLtd $ZTEK $ZEN.V
8. Top 10 Trending on #InvestorNews, in the #8 Position, WATCH Jack Lifton interviews Mark Chalmers on #EnergyFuels Strategic Path to Dominance in the North American #RareEarths Market https://youtu.be/a1xrRJB5hAw via @YouTube #Uranium #cirticalminerals @Energy_Fuels $UUUU $EFR
9. Top 10 Trending on #InvestorNews, in the #9 Position, WATCH: Terry Lynch on @PowerNickel’s collaboration with #CVMR Corporation for developing Canada’s first #CarbonNeutral #Nickel mine https://youtu.be/xOtY6U7ovRE via @YouTube #CriticalMinerals #BatteryMetals $PNPN.V $PNPNF @terrybali
10. Top 10 Trending on #InvestorNews, in the #10 Position, READ: Who might follow #PatriotBattery Metals #lithium exploration success in Canada in 2024? https://bit.ly/48fFh1P via @YouTube #criticalminerals @BrunswickExplo1 @WinsomeRes

Is Artificial Intelligence (AI) going to save the world? Likely not if you are a fan of the Terminator series made famous by Arnold Schwarzenegger or the Dune novels written by Frank Herbert, amongst other potential humanity ending scenarios. But until AI becomes self-aware, there is certainly a lot of good the data processing and analysis tools provided through machine learning can do to help humanity achieve significant improvements to our health and well-being until we all become slaves to our computer overlords.

One publicly traded company using AI that doesn’t already have a Trillion dollar market cap is DIAGNOS Inc. (TSXV: ADK | OTCQB: DGNOF). DIAGNOS is a Canadian corporation dedicated to the early detection of critical health problems based on its FLAIRE Artificial Intelligence (AI) platform. FLAIRE allows for quick modifying and developing of applications such as CARA (Computer Assisted Retina Analysis). CARA’s image enhancement algorithms provide sharper, clearer and easier-to-analyze retinal images. CARA is a cost-effective tool for real-time screening of large volumes of patients. CARA has been cleared for commercialization by the following regulators: Health Canada, the FDA (USA), CE (Europe), COFEPRIS (Mexico) and Saudi FDA (Saudi Arabia).

DIAGNOS primarily markets CARA as a software platform which assists health specialists in the detection of diabetic retinopathy. Diabetic retinopathy (also referred to as macular edema) is a diabetes complication that affects the eyes. It’s caused by damage to the blood vessels of the light-sensitive tissue at the back of the eye (retina). At first, diabetic retinopathy might cause no symptoms or only mild vision problems, but it can lead to blindness. The condition can develop in anyone who has type 1 or type 2 diabetes.

A patient may experience no symptoms of diabetic retinopathy until the condition becomes severe. Early detection and treatment can prevent 85% to 95% of blindness cases. Thus it makes a lot of sense that everyone with diabetes gets screened for diabetic retinopathy at least once a year due to the fact that it is estimated that up to 347,000 people every year could go blind from a curable disease if they aren’t screened early enough. This seems like a very good use of AI for the betterment (and not enslavement) of humanity.

In February, DIAGNOS and École de Technologie Supérieure (ÉTS), a world-renowned technical university announced that they would be presenting the results of their ground-breaking research on mass screening for macular edema using Optical Coherence Tomography (OCT) at ARVO 2023, the Annual Conference of the Association for Research in Vision and Ophthalmology (ARVO). The screening process for macular edema has been revolutionized by the research carried out by DIAGNOS and ÉTS, resulting in impressive efficiency of algorithms, fidelity of the “heat map” type decision-making tool, and an extremely low rate of “false positives.” It is anticipated that DIAGNOS’ AI-enabled screening process could become the go-to method adopted by healthcare professionals in the future.

I’m not worried about the AI being deployed by DIAGNOS taking over the world anytime soon. However, I am excited to see where this Company goes next. I can’t help but think it’s a good thing to become the de facto tool for early detection of preventable blindness in diabetes patients. That’s got to be worth something. But there’s also the springboard of having a successful platform in place to build off of. Time will tell if this AI story starts making headlines with all the rest of them out there.

DIAGNOS Inc. trades at a market cap of C$35 million.

The market is awash with the talk of Artificial Intelligence (AI) and Machine Learning (ML). The most recent quarter of tech earnings had many of the “big guys” (Apple, Alphabet/Google, Microsoft, Meta) talking about their AI capabilities and where it was leading them.

In fact, just yesterday Alphabet Inc.’s (NASDAQ: GOOGL) stock surged as much as 5% after it made several AI announcements at its developer conference.

Microsoft Corporation (NASDAQ: MSFT) has invested in ChatGPT, which seems to have helped its share performance this year.

And despite the dire warnings of Elon Musk, Steve Wozniak, and the “godfather of AI” Geoffrey Hinton, it seems AI is sparking a bit of an investment frenzy, at least until something else comes along to capture the market’s attention.

AI: A Complex and Diverse Field

However, AI isn’t exactly a definitive thing. Simply stating you are using AI is a little bit like saying I’m going on a holiday. You don’t know where I’m going, how I’m getting there, or what I plan to do on my holiday.

It’s one thing to use AI to generate a viral video that sounds like a collaboration between Drake and The Weeknd and another thing to do something useful (although you may argue a viral video is a useful thing).

Even more granular, you can have an industry that is using AI to advance technology or improve efficiency but still have very different approaches or algorithms tackling a variety of unique issues. In other words, an article on AI could be way longer than anything I intend to discuss today.

Instead, I’m simply going to have a look at one example of how a company is putting its own twist on AI for the benefit of humanity and hopefully its investors.

NetraMark Holdings – A Unique Approach to AI in the Pharmaceutical Industry

That company is NetraMark Holdings Inc. (CSE: AIAI). NetraMark is a software technology company dedicated to improving the understanding of how patients, within and across diseases, relate to each other through the integration of multiple types of data via unique AI-enhancing software targeted at the Pharmaceutical industry. Its product offering uses a novel topology-based algorithm that has the ability to parse patient data sets into subsets of people that are strongly related according to several variables simultaneously. And hopefully, that’s as complex a sentence as there is in this article.

NetraMark is addressing a market where less than 12% of the candidate medicines successfully make it through the clinical trial process and receive approval from the FDA. Given all the unsuccessful biotech companies I’ve participated in, I find that a very easy statistic to believe.

NetraMark is utilizing its proprietary AI algorithm to review where trials have failed and improve the success rate (see the complex sentence above). In other words, just because a specific trial might have failed, it doesn’t mean the drug candidate wasn’t successful, it might just be that it isn’t successful for certain people but wildly successful for others. The challenge becomes using AI to figure this out.

NetraMark’s Focus on Small Data Sets

Over 95% of drug trials have less than 1,000 people participating in them, which is a pretty small data set. Typically small data sets aren’t conducive to the use of AI.

Where NetraMark is unique is that Founder, Chief Scientific and Technology Officer, Dr. Joseph Geraci has spent over 5 years developing AI algorithms that focus on deriving statistically relevant findings in small data sets. Their product provides an intuitive interface for scientists to interact with small datasets to uncover connections related to efficacy, toxicity, and placebo response. The Company has published numerous White Papers on how their technology has identified various insights on topics ranging from pancreatic cancer to Alzheimer’s disease progression to lung cancer.

Potential for Growth

And the best part for investors is, this isn’t something that is still in development. It’s functional and running today. Last week NetraMark announced the completion of a recent client engagement to utilize outcome data collected in Phase 3 clinical trials from a specialty biopharma company. This was part of a Master Service Agreement whereby the Company earned a fixed fee for a defined Scope of Work.

NetraMark is guiding toward contracts valued at C$2 to C$3 million for the current fiscal year and C$7 to over C$9 million for next year.

Acquisitions in the AI Drug Discovery Space

Of course, that assumes the Company even makes it until next year. On Monday of this week, Recursion Pharmaceuticals, Inc. (NASDAQ: RXRX), a leading clinical-stage biotech company announced it has signed agreements to acquire two companies in the AI drug discovery space: Cyclica Inc. and Valence Discovery.

What makes this relevant? In February 2022, NetraMark partnered with Cyclica Inc. to accelerate drug discovery targeting neurodegenerative diseases.

Given Cyclica is a private company, it’s hard to determine what type of multiple the $40 million price Recursion paid represents. But it does confirm that the AI frenzy is heating up.

What that means for NetraMark remains to be seen.

NetraMark Holdings trades at a current market cap of C$23 million.

FIGURE 1: NetraMark Holdings – 1-Year Stock Chart

Fears of artificial intelligence in androids, massive computer facilities, and other devices taking over the world are not stopping investors from searching for ways to make prudent investments.

From AI and automation to robotics, nearly every industry is undergoing disruption. Over the past few months, the world has witnessed significant advancements in AI technology, such as the release of chatbots and image, art, and music generators for public use.

Generative Artificial Intelligence

Generative Artificial Intelligence (Gen AI) is a branch of artificial intelligence that uses machine learning algorithms to create new and original content, such as computer code, images, music, speech, or text. It works by using a training algorithm and ‘learning’ on a large dataset of examples, then using that training to generate new content that is similar to the original examples.

Most recently, the chatter around Gen AI has been brought to the forefront by the web-based Chat Generative Pre-trained Transformer, or as it is more widely known, ChatGPT, from OpenAI, L.L.C. OpenAI is a privately-held company with investors including Microsoft Corporation (Nasdaq: MSFT), Khosla Ventures, Y Combinator, and Guangzhou Cornerstone Asset Management Co.

It has many applications and benefits for various industries, such as entertainment, education, finance, health care, marketing, media, pharmaceuticals, and security.

Some of the leading public companies by market cap that operate in the broader AI and Gen AI industry are:

Microsoft Corporation (Nasdaq: MSFT) – Market Cap US$2.20 Trillion

Microsoft offers cloud computing, software, and hardware products and services, such as Microsoft Azure and Microsoft Cognitive Services. Microsoft’s Azure AI is a collection of AI services that offers developers and data scientists the ability to build and deploy their own AI solutions using high-quality vision, speech, language, and decision-making AI models through simple API calls, and create their own machine learning models using familiar tools and open-source frameworks

Alphabet Inc. (Nasdaq: GOOGL) – Market Cap US$1.32 Trillion

Alphabet, best known for its Google search engine, provides internet-related products and services, such as Google Cloud and Google AI. Google Cloud recently announced generative AI offerings that let developers tap into Google’s foundation models, search expertise, and conversational AI technologies to create enterprise-grade generative AI applications. Google also offers its own Bard chatbot.

Amazon.com, Inc. (Nasdaq: AMZN) – Market Cap US$1.08 Trillion

Amazon operates e-commerce, cloud computing, and artificial intelligence platforms, such as Amazon Web Services (AWS) and Amazon Alexa, and offers pre-trained AI Services to integrate into customer applications and workflows.  

NVIDIA Corporation (Nasdaq: NVDA) – Market Cap US$664.7 Billion

NVIDIA produces graphics processing units (GPUs) and artificial intelligence platforms, such as NVIDIA Omniverse and NVIDIA Clara. According to a report by research firm TrendForce, ChatGPT will require as many as 30,000 NVIDIA GPUs to operate, which costs between $10,000 and $15,000 for each GPU. As AI becomes more mainstream, NVIDIA looks to benefit from the GPU demand.

Meta Platforms, Inc. (Nasdaq: META) – Market Cap US$537.2 Billion

Meta operates social media platforms and applications, such as Facebook, Instagram, and WhatsApp. It also develops artificial intelligence products and services, such as Facebook AI Research and Facebook Reality Labs.

Adobe Inc. (Nasdaq: ADBE) – Market Cap US$116.5 Billion

Adobe provides software products and services for digital media creation and marketing, such as Adobe Creative Cloud and Adobe Sensei. Adobe Sensei is an artificial intelligence and machine learning technology developed by Adobe that powers its Creative Cloud suite of applications and uses AI and machine learning to automate tasks such as organizing, editing, and producing content.

International Business Machines Corporation (NYSE: IBM) – Market Cap US$114.3 Billion

IBM provides IT solutions and services, such as IBM Cloud and IBM Watson. It also develops artificial intelligence products and services, such as IBM Project Debater and IBM AutoAI. In 2011, IBM’s supercomputer Watson beat competitors on the popular game show Jeopardy!   

Final thoughts

The AI field is growing rapidly and has numerous applications in various industries. Major players offer a range of AI products and services, from cloud computing to chatbots and image, art, and music generators. NVIDIA, in particular, is poised to benefit from the increasing demand for GPUs as AI becomes more mainstream. Despite concerns about AI taking over the world, investors are eagerly searching for ways to invest in this space.

In this InvestorIntel interview during PDAC 2023, Melissa Sanderson talks with Trevor Jones, Founder and CEO of Lynx Global Intelligence about its business intelligence (“BI”) software platform that collects data from various sources such as sensors, satellite images, and field data, and puts it into one centralized database. This allows both people on the ground and managers in the C-suite to see all the data that pertains to compliance, ESG, health and safety, security and risk, and other monitored aspects of the business.

Trevor mentions that the platform uses artificial intelligence (“AI”) tools to help its users query large amounts of data and support teams around the world. He also says that the platform can help mining companies comply with various ESG reporting by aligning data to pre-configured standards with a click of a button, saving clients time and money.

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About Lynx Global Intelligence

Lynx Global Intelligence is a software provider helping mining explorers and producers capture ESG data at the asset level.

To learn more about Lynx Global Intelligence, click here.

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As the Russia-Ukraine conflict rages on, it is worthwhile taking a closer look at companies in Western countries that offer protection from terrorist and other threats. Russia has already said it will retaliate to sanctions, and we all assume it is only cyber-attacks, but in-person attacks or major terrorist events such as 9/11 are always a threat. Then there are all the hate crimes and random shootings. The public has a right to be protected, especially in busy locations such as airports, stadiums, bus & train stations, and shopping centers.

The Weapons Detection Systems market is forecast to grow from US$5.3 billion in 2020 to US$7.5 billion by 2025, at a CAGR of 8.2%. It is estimated that US$1.5 billion was spent on urban security in North America in 2020.

Liberty Defense Holdings Ltd. (TSXV: SCAN | OTCQB: LDDFF | Frankfurt: LD2A) (“Liberty”) works in the area of weapons detection. Liberty focuses on next generation security detection using automatic threat detection technology.

Liberty’s two products – HEXWAVE™ and AVIATION

HEXWAVE™ is a real-time people scanner and shoe screener technology for airport security, as well as other commercial applications. What makes it ‘next generation’ is that it can detect weapons of all types (including non-metallic weapons) without alerting for everyday items such as keys, wallet, cell phone, and jacket. This is because it works by using 3D imaging and Artificial Intelligence.

HEXWAVE™ also uses Smart IoT functionality for connectivity to existing security systems (VMS, access control) and enables over the air updates. It is able to be used both indoors and outdoors. In terms of Government approvals and certification HEXWAVE™ is progressing well as you can read here.

Hexwave Technology works much better than old fashioned metal detectors

Source: Liberty Defense Holdings company presentation

HEXWAVE™ has been awarded a grant from the U.S. TSA and DHS for tech advancement and is undergoing six beta testing trials; including with the Maryland Stadium Authority, Greater Toronto Airports Authority, Hindu temple, Port Tampa Bay, Virginia Division of Capitol Police, and the University of Wisconsin Police Department.

Following on from the above it was recently announced on February 22, 2022, that Liberty has signed an agreement with The Greater Toronto Airports Authority to trial HEXWAVE™ at Toronto Pearson International Airport during the third quarter of 2022. The Airport will be the first airport in the world to test HEXWAVE™.

AVIATION is Liberty’s other key product, for which Liberty owns the license. It is focused on airport security and involves the following two technologies combined:

• High Definition Advanced Imaging Technology (HD-AIT) millimeter-wave body scanner for upgrades or new deployments in airports
• Award winning footwear screener based on proven millimeter-wave technology

Airport passengers will no longer need to remove their shoes or any clothing. AVIATION can be used to upgrade the existing worldwide installed base or for new system deployments.

Liberty’s business model

The Liberty business model works by achieving one-off revenue from the HEXWAVE™ hardware sale, plus a recurring revenue from the initial 5-year maintenance plan to include software and AI updates. Liberty states that it expects to generate high product gross margins after 2022. Their initial focus will be on the USA and Canada, but there is an international need, so global expansion could follow. Liberty will look to use channel partners where appropriate and also use direct sales. Amsource Capital Ltd. has been engaged to facilitate large and small ticket leasing and financing of HEXWAVE™.

Liberty Defense Holdings investment highlights

Source: Liberty Defense Holdings company presentation

Closing remarks

The need for Automatic Weapons Detection Systems is really a no-brainer these days, especially at airports, stadiums, bus & train stations, and shopping centers. The potential demand for Liberty’s next generation security products (HEXWAVE™ and AVIATION) is enormous, both in North America and globally.

Liberty Defense Holdings trades on a market cap of C$26 million and achieved a recently announced aC$7.5 million equity raise. If Liberty can successfully move into the next stages of production and commercialization of sales, then we should be hearing a lot more about them in 2022 and 2023.

Using Artificial Intelligence (AI) to better image and analyze the retina of the eye to detect early stage disease is a potential game changer in the prevention of blindness and cardiovascular diseases such as stroke, heart attack, and diabetic related disease.

Today’s company is pioneering its work in this field with USA clinical trials commencing soon and a global commercialization rollout already underway. The company is Diagnos Inc. (TSXV: ADK | OTCQB: DGNOF) (“DIAGNOS”).

DIAGNOS has developed an Artificial Intelligence (AI) tele-ophthalmology platform, which uses Computer Assisted Retina Analysis (CARA) to examine a patient’s retina (back of the eye) for the early detection of diseases, such as diabetes, and conditions such as cardiovascular disease, hypertension and stroke. CARA’s image enhancement algorithms provide sharper, clearer and, thus, easier-to-analyze retinal images.

CARA has been cleared for commercialization by the following regulators: Health Canada, the FDA (USA), CE (Europe), COFEPRIS (Mexico) and Saudi FDA (Saudi Arabia). DIAGNOS already operates in 16 countries, with 131 screening sites, has 222,034 patients under their care, and has performed more than 400,000 retinographies around the world. DIAGNOS’ CARA achieves great precision in diabetic retinopathy pre-diagnoses, reaching a sensitivity of 98.4%, specificity of 97.6% and a certainty of 97.9%.

DIAGNOS uses an AI technology know as CARA to better analyze the retina of the eye, a key way to detect early cardiovascular disease

Source: DIAGNOS website

DIAGNOS achieves two firsts and an eight at the GAMMA (Glaucoma grAding from Multi-Modality imAges) contest

At the recent GAMMA competition, DIAGNOS achieved some stunning results including two firsts and an eighth place out of a total of 566 teams. Now that’s super impressive!

The October 28, 2021 announcement stated: “DIAGNOS was the only one, of the top 8 teams, that competed with a marketed, commercialized system. DIAGNOS used the same platform that it currently uses for diabetic retinopathy screening, which is marketed worldwide, while the others were principally from academic institutions.”

Key results included:

• Localization of macula fovea in fundus images. (DIAGNOS placed 1^st overall)
• Segmentation of optic disc and cup in fundus images. (DIAGNOS placed 1^st overall)
• Grading glaucoma using multi-modality data. (DIAGNOS placed 8^th overall)

USA clinical trial for the early detection and prevention of stroke using CARA-STROKE

On November 23 DIAGNOS announced: “DIAGNOS will start a clinical trial study in the USA commencing December 6th, 2021 for early detection and prevention of stroke using CARA-STROKE.” The trial aims to confirm early Proof-of-Concept results that showed a strong potential in the early detection of stroke through the inspection and micro circulation analysis of the retina.

The upcoming USA clinic trial at the CommonSpirit Health Research Institute, Chattanooga Center for Neurologic Research LLC, is intended to further prove the effectiveness of DIAGNOS’s CARA technology.

Note: CommonSpirit Health is a non-profit national Catholic healthcare system that operates 137 hospitals and more than 1,000 care sites across 21 states of the USA.

Some facts about cardiovascular disease including stroke

• Stroke causes 1 out of every 20 deaths.
• The management of stroke represents a cost of around US$34 billion per year in the United States.
• According to the WHO, 15 million people suffer a stroke worldwide each year. Of these, 5 million die and another 5 million are permanently disabled.
• Europe averages approximately 650,000 stroke related deaths each year.
• Worldwide Research Institutes says that the worldwide market size for stroke management will hit over $66 billion by 2023.

Source: DIAGNOS announcement

Clearly, the above facts speak volumes as to the need to diagnose cardiovascular disease early. And that is exactly what DIAGNOS does.

Not just an idea, commercialization has begun

As previously discussed in some detail here, DIAGNOS commercialization is gaining momentum. Some examples include:

• July 22, 2021 – DIAGNOS announced the official opening of the AI Assisted screening clinic at Magrabi Hospital in Saudi Arabia. Magrabi Hospitals and Centers has thirty-four branches in the Middle East.
• July 28, 2021 – DIAGNOS announced a pilot in Spain with three franchisees from Opticalia Group.
• August 16, 2021 – DIAGNOS announced signing a Memorandum of Understanding (MoU) for a distribution agreement with Essilor International. Essilor International is the world’s leading ophthalmic optics company.
• September 2, 2021 – DIAGNOS announced a three-year contract renewal with Optina Diagnostics providing a Telemedicine Platform to support their early detection of Alzheimer’s Disease.
• September 14, 2021 – DIAGNOS announced a 3-year contract with Cielo Vista Eye Clinic in Mexico.
• September 16, 2021 – DIAGNOS announced a multi-year contract with Juarez Health & Medical Tourism Cluster in Mexico, who focuses on medical tourism and serves between 10-12,000 patients a day.

Closing remarks

DIAGNOS’s CARA technology is clearly a winner. It has already won numerous global contracts and the recent GAMMA competition. Any potentially positive results from the upcoming CommonSpirit Health Research Institute clinical trial would just be icing on the cake.

With 15 million people suffering a stroke worldwide each year the time has come for better early diagnosis to allow earlier treatment and prevention, potentially reducing this terrible statistic.

Diagnos Inc. trades on a market cap of just C$30 million which seems very small when compared to the massive market for cardiovascular disease diagnosis. One to follow closely in the years ahead.