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Oncimmune's strategic pivot aims for robust growth in 2024

Oncimmune Holdings PLC

Oncimmune Holdings PLC (AIM:ONC) CEO Martin Gouldstone joins Proactive's Stephen Gunnion with highlights of the company's 2023 performance, which included its strategic decision to focus on its ImmunoINSIGHTS platform. A significant development was the sale of its early lung cancer detection business to US biotech company Freenome, generating substantial funds. This capital was utilised partly to reduce existing company debt and, importantly, established a five-year master service agreement (MSA) with Freenome, guaranteeing Oncimmune a minimum of £1.3 million in service revenues on a use-it-or-lose-it basis, with a two-year break clause. This deal not only provided immediate financial benefit but also assured a steady revenue stream for at least two years. Gouldstone emphasized the company's focus on its ImmunoINSIGHTS service platform, highlighting its commercial and scientific potential. Since his tenure began in August last year, Gouldstone said he has been dedicated to maximizing the platform's commercial impact and scientific capabilities. The strategic redirection towards new commercial areas and customer segments was marked by the announcement of a new strategy in October, followed by securing seven contracts in novel commercial domains, including repeat business with large pharmaceutical companies and new engagements in biotech. These contracts span discovery and adverse event prediction in immuno-oncology, reflecting the strategic diversification efforts. With the commercial team nearing completion, Oncimmune anticipates a tangible impact on revenues towards the end of 2024, with an aim to further expand the sales team in the US by FY25. Looking ahead to 2024, Oncimmune has projected a revenue target of £3 million, marking at least a 150% increase from the previous year and setting a record high for the company's operations in Germany. This ambitious forecast underscores the company's strategic refocus, relaunch, and consolidation efforts aimed at sustaining growth and delivering improved financial performance in the coming years. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

March 08, 2024 09:35 AM Eastern Standard Time

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Benzinga

By Meg Flippin, Benzinga When it comes to neurological diseases, epilepsy is among the most common worldwide. At last check, about 50 million people suffer from this chronic non-communicable disease, with close to 80% living in low to middle-income countries. The risk of premature death among epilepsy patients is as much as three times higher than non-suffers. There are treatments for the seizures experienced by patients – 28 FDA-approved drugs at last count – but they don’t work for everyone. About one-third require surgery. It is those patients and others suffering from neurological disorders that Minnesota-based NeuroOne Medical Technologies Corp.(NASDAQ: NMTC) is targeting with its medical technology. The company designs and manufactures high-definition, minimally invasive thin film electrodes which are used for intracranial monitoring. The electrodes are implanted inside the skull to record brain activity. That data helps surgeons better locate and remove the brain tissue causing seizures without impacting the rest of the brain. NeuroOne’s electrodes are intended to diagnose and treat several neurological conditions including epilepsy, Parkinson’s Disease and Essential Tremors. The company believes it has an edge over the current electrodes in application because they are thin, flexible and less bulky. Better Than The Original? NeuroOne’s Evo Cortical Electrode portfolio consists of various configurations of strips and grid electrodes, which are made with thin polyimide film — which, in a study by the Mayo Clinic, demonstrated reduced inflammation to the brain versus traditional silicone electrodes as the material is flexible, thin and weighs less. The electrodes are cleared by the FDA for recording, stimulation and monitoring of brain activity for less than 30 days. With the technology, doctors can identify the right foci zones to determine the best treatment for patients. The company says its technology provides new options for surgical placement and potentially smaller incisions, lower inflammation compared to the bulky electrodes on the market, and also enables the pairing of diagnosis and therapeutics in one offering unlike other competitive technologies. With proven placement accuracy and enhanced signal quality, physicians can capture the vital data they need to support more confident diagnoses, according to NeuroOne. NeuroOne is among a handful of medical technology companies that are taking novel approaches to treating brain diseases. Aneuvas Technologies Inc. (NASDAQ: ATITK) is one example. It's developing new technology to fill and heal aneurysms. Hong Kong-listed MicroPort NeuroTech Ltd. is another example, working on technology to help doctors overcome potential issues during hemorrhagic strokes. Meanwhile ORSIM develops a specialist flexible bronchoscope simulator to help train and support anesthesiologists. NeuroOne pegs its market opportunity at $100 million for diagnostic use. Other markets the company is looking to enter including ablation, drug delivery and spinal cord stimulation for back pain are already generating revenue in the billions of dollars. Future Applications On The Horizon The company recently received clearance from the FDA to use an sEEG electrode to record electrical activity in the brain for less than 30 days but also to ablate brain tissue in an effort to reduce or eliminate a patient’s seizure activity using the same device. This will hopefully reduce the number of surgeries and hospitalizations a patient has to experience. This system has the potential to ablate nervous tissue in other areas of the body. NeuroOne has already commented that they will pursue additional applications, starting with facial pain. In addition, the company has commented that they are developing a drug delivery electrode that can monitor the electrical activity of the brain after delivery of the drug or gene therapy. This technology could also be helpful for pharmaceutical and biotech companies in helping identify in the early phases of development if the therapy shows efficacy. This could save the company millions of dollars in development and clinical study costs earlier in the development process. In addition, NeuroOne is also expanding its efforts into spinal cord stimulation for chronic back pain, last year announcing it successfully completed an animal implant of its novel thin film paddle leads for spinal cord stimulation. The devices are intended for the treatment of patients with chronic back pain due to multiple failed back surgery syndrome and intractable low back and leg pain. NeuroOne reports that results demonstrated the feasibility of the placement of a thin film paddle lead intended to treat chronic back pain due to multiple failed back surgeries. The company said more testing would be completed to optimize the design and placement. The company is also developing a percutaneous (through a needle) paddle lead placement system which would eliminate the need for an incision in the patient's back. The preliminary benchtop testing for this percutaneous approach has also been successfully completed. In January, NeuroOne presented a poster on pre-clinical experience with thin-film paddle leads at the North American Neuromodulation Society (NANS). Millions of people suffer from epilepsy, Parkinson’s Disease, Essential Tremors and other neurological disorders, yet the treatments today largely fall short. NeuroOne is committed to changing that with its minimally invasive approach. It hopes its innovations will not only transform the treatment of brain diseases but also enhance patient outcomes, reduce procedural invasiveness and streamline diagnostic and therapeutic processes for patients around the globe. Featured photo by Natasha Connell on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

March 08, 2024 08:30 AM Eastern Standard Time

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Syra Health (NASDAQ: SYRA) Wins $650,000 Healthcare Quality Improvement Contract

Syra Health

By Jeremy Golden, Benzinga Syra Health’s (NASDAQ: SYRA) new deal to collect data and acquire information related to Healthcare Effectiveness Data and Information Set (HEDIS®) will further the Carmel, Indiana-based company’s goal of providing innovative services and technology solutions in the healthcare sector. Developed and maintained by the National Committee for Quality Assurance (NCQA), HEDIS is a standardized population health management tool that employers can use to understand employee health and measure the quality of care their population receives. HEDIS plays a critical role in healthcare quality measurement and improvement initiatives as the most widely used performance improvement tool in healthcare. As per the agreement, Syra Health will provide HEDIS outreach and support services essential for fostering positive health outcomes and reducing costs. Syra Health, whose products and services are centered on prevention, improved access and affordable care, will leverage its team of population health experts to collect data and acquire information from the Indiana population, including Medicaid members, hospitals and physicians. "The need for robust data and analytics by healthcare decision-makers is continuing to expand,” said Dr. Deepika Vuppalanchi, CEO, Syra Health. “We are proud that we are being recognized for our strong team of health experts.” “We remain steadfast in pursuing and securing important contracts for our services and products,” added Sandeep Allam, Executive Chairman and President, Syra Health. “Our contract pipeline is growing, and we look forward to sharing more contracts as they are fully executed.” Featured photo by Matheus Ferrero on Unsplash. Syra Health is a healthcare technology company addressing some of healthcare's most significant challenges in areas such as behavioral and mental health, digital health, and population health, by providing innovative services and technology solutions. Syra Health’s products and services are centered on prevention, improved access, and affordable care. Syra Health supplies its solutions to payers, providers, life sciences organizations, academic institutions, and government. For more information, please visit www.syrahealth.com. Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements." These statements include, but are not limited to, statements relating to the expected use of proceeds, the Company’s operations and business strategy and the Company’s expected financial results. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements contained in this press release are based on management's current expectations and are subject to substantial risks, uncertainty and changes in circumstances. Investors should read the risk factors set forth in our registration statement on Form S-1 and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by federal securities laws, the Company specifically disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Christine Drury +1 463-345-8950 Christined@syrahealth.com Company Website https://www.syrahealth.com/

March 08, 2024 08:25 AM Eastern Standard Time

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Immunic to reveal promising MS treatment data in two poster presentations at ACTRIMS Forum 2024

Immunic Inc

Immunic Inc CEO Dr Daniel Vitt joins Proactive's Stephen Gunnion with details of data from the Phase 2 CALLIPER and CALVID-1 trials of vidofludimus calcium the company will present at the Americas Committee for Treatment and Research in Multiple Sclerosis (ACTRIMS) Forum 2024 in West Palm Beach, Florida, from today. Vitt highlighted the significant potential of the drug in treating multiple sclerosis (MS), particularly in relation to Epstein-Barr Virus (EBV) reactivation. The CALLIPER study focuses on the effects of 45 milligrams of vidofludimus calcium in patients with progressive MS, emphasising the importance of progression independent of relapse activity. October's interim biomarker data, specifically neurofilament light chain (NFL), which is related to neuronal death, was mentioned as a key aspect of the first poster. This data aims to correlate NFL reduction with the likelihood of future disability outcomes in progressive MS patients. The overlap between the CALLIPER study and the Phase 2 CALVID-1 trial, outlined in the second poster, explores the role of EBV reactivation in MS and fatigue symptoms. Vidofludimus calcium's potential to prevent EBV reactivation and reduce fatigue in MS patients is a significant finding, with implications for post-COVID syndrome as well. The CALVID-1 study also examined Vidofludimus calcium's effects on fatigue in patients treated for SARS-CoV-2, revealing a positive impact. Presenting at the ACTRIMS Forum 2024, an important scientific conference for MS research, underscores the relevance and potential impact of Immunic Inc's findings in the MS and broader medical communities. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

March 08, 2024 06:53 AM Eastern Standard Time

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Redx Pharma achieves milestone with dosing of first participant in Phase 1 clinical trial for RXC008

Redx Pharma PLC

Redx Pharma PLC (AIM:REDX) CEO Lisa Anson discusses the enrollment of the first participant in its RXC008 Phase 1 clinical trial in an interview with Proactive's Stephen Gunnion. RXC008 is a 'first-in-class' ROCK inhibitor, designed to be gut-restricted, targeting fibrostenotic Crohn's disease. This oral molecule inhibits ROCK1 and ROCK2, aiming to avoid systemic side effects like hypertension, and providing targeted action in the gut. This development marks a significant step from laboratory to patient-focused clinical development. Anson highlighted the unmet need for Crohn's disease treatment, particularly for patients with fibrostenotic complications, where currently no drug treatments are available, leaving surgery as the only option. The next steps for the RXC008 programme include escalating doses in healthy volunteers, with plans to move into patient trials towards the end of the year. Additionally, Anson mentioned Redx Pharma's broader portfolio, noting that RXC008 is the sixth molecule from Redx to enter clinical trials, showcasing the company's drug discovery prowess. Other key developments include the Phase 2 trials of RXC007 for lung fibrosis and RXC004 for cancer, both expected to report data this year. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

March 08, 2024 05:46 AM Eastern Standard Time

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Roughly Half of Nations That Invest in AI Develop Their Own Generative Models, Reveals the First Global GenAI Landscape

AIport

AIport, an online community dedicated to covering the latest international ML developments, has crafted the first volume of its Global Generative AI Landscape 2024. This initial edition examines notable GenAI players worldwide across several key categories. This is the first generative AI landscape analysis to emphasize regional attributes and encompass four times more nations than the average GenAI landscape available to the public. The research process involved examining all 62 countries invested in the AI market, as featured in the Global AI Index by Tortoise. In-house model developers were identified, filtered by the team of editors and data scientists, and subsequently cross-referenced with current GenAI landscapes from Sequoia Capital, Antler, Base10, and others, before being segmented into ten GenAI categories. As the final step, the data was divided into continental regions: North America, South America, Europe, Asia, Oceania, and Africa. The first volume of the global GenAI landscape from AIport aims to present a balanced view of international companies, encompassing not only Western firms, but also those from other regions. The landscape offers a comprehensive analysis, detailing which players are developing GenAI solutions, their locations, and the specific nature of their contributions. It contains a total of 128 generative models from 107 companies. As Avi Chawla, a data scientist and community manager at AIport, put it: “We noticed that many generative AI landscapes tend to focus either on the Silicon Valley giants or the tech powerhouses of Europe, covering no more than 10 countries on average. While this approach does serve its purpose, it can’t really offer a complete picture. To address this, we decided to dig deeper, and this is what we came up with after weeks of research. We believe Volume 1 of our Global Generative AI Landscape 2024 provides an objectively international outlook. And we’re also planning to delve into other aspects of GenAI more closely in the future.” The landscape and key highlights Of the 62 countries listed in the Global AI Index, only 35 develop their GenAI solutions in-house. Roughly 90% of them focus on one model type. Regional leaders by the number of active GenAI companies are North America – USA; South America – Argentina; Europe – UK and France; Asia – China and Israel; Oceania – Australia and New Zealand; Africa – South Africa. The average number of GenAI models per company is the highest in North America, being the only region to have at least one model from each of the 10 model categories. Approximately 10% of all companies covered in the study have implemented multimodality in their GenAI models, with a majority of these developers located in the US. This indicates that while multimodality represents an emerging trend, its adoption outside North America still remains in the nascent stages. A total of 11 companies worldwide have developed more than one type of GenAI model. Stability AI leads with five distinct GenAI model types (image, video, audio, 3D, and code), followed closely by OpenAI (chatbot, audio, video, and multimodal) and Google (text, image, audio, and multimodal) – both with four model types. Microsoft, Meta, Tencent, Baidu, and Yandex are among those companies that developed between two to three types of distinct GenAI models. 13 companies have developed multiple models within a single GenAI category. AssemblyAI has two speech-to-text models, MosaicML offers two iterations of its MPT for code generation, while IPOXCap has introduced two chatbots designed for business intelligence applications. About AIport AIport is an online community of AI writers, researchers, and data scientists that aims to provide a transnational perspective on AI. Recognizing that most ML-related publications primarily focus on the “big leagues” in the West, AIport seeks to be more inclusive by widening the angle and broadening the narrative. This approach ensures a more diverse and impartial representation, offering a well-rounded take to the global AI community. Contact Details NettResults LLC Nick Leighton +1 949-478-5880 nick.leighton@nettresultsllc.com Company Website https://aiport.substack.com/

March 07, 2024 10:22 AM Pacific Standard Time

Innoveren Scientific's (OTCMKTS: IVRN) 510(k) Submission Sparks A New Hope For Patients Living With Chronic Non-Healing Wounds

Benzinga

By Jeremy Golden, Benzinga IVRN has completed a 510(k) submission for its SkinDisc TM Lite and SkinDisc TM regenerative medicine technology. The company says that what differentiates this technology from other regenerative products is the fact that it only requires one application to achieve healing in four to nine weeks and comes packaged as a disposable kit. An aging U.S. population with increasingly complex medical diagnoses has doctors and clinicians under pressure to diagnose and treat patients while restoring their quality of life. With the goal of doing just that, a life science and biotech incubator company is advancing a wound-healing product. Focused on advancing new technologies in areas of unmet need across multiple indications, Innoveren Scientific Inc. This is a significant advancement when compared to current treatment approaches that require weekly applications and can take 12-20 weeks to heal. Generally, people have to apply treatment products every three days before they see any impact. With SkinDisc, only one application is needed. SkinDisc TM was acquired by Innoveren Scientific in December of 2022. A breakthrough stem cell therapy technology, SkinDisc TM has positioned the company to combat the rising prevalence of acute, chronic and surgical wounds with an effective and affordable treatment. As outlined in its submission, SkinDisc TM combines stem cells from the patient and several other molecular components to stimulate tissue regeneration, which results in rapid growth of the host tissue. To best serve those who can benefit from this proprietary technology, Innoveren Scientific plans to work with surgeons, podiatrists and physicians to treat patients with severe trauma-based wounds and non-healing chronic wounds, which affected nearly 16.3% of Medicare beneficiaries in 2019, according to a recent study by the University of Pittsburgh Medical Center. Those numbers are only expected to continue on an upward trajectory. Innoveren's recent submission to the U.S. Food & Drug Administration (FDA) is primarily focused on chronic non-healing wounds and burns, an area of medicine where current treatment options have stagnated. With patented or under-patented components, SkinDisc TM has treated over 500 patients to date. Innoveren reports that early clinical outcomes of those who used SkinDisc TM demonstrated significant results relative to current treatment options in wound healing and limb salvage. Innoveren Scientific expects to receive a response from the FDA by mid-May 2024 for both SkinDisc TM and SkinDisc TM Lite. This 510(k) submission is one of three the company has in its pipeline utilizing the body's own cells to achieve successful recovery of the patient. In the coming months, Innoveren plans to submit an application to the FDA for its SkinDisc TM Ultra technology, an iteration that incorporates Bone Marrow Aspirate (BMA) and would only be available for use in operating rooms and limb salvage procedures; specifically in cases of severe trauma, infections or diabetic foot ulcers. In addition to SkinDisc TM, the company also has BreatheEasy, a 510(k) De Novo pathway medical device that helps patients struggling with chronic obstructive pulmonary disease (COPD), as well as other closely related diseases such as chronic bronchitis and emphysema. Featured photo by megaflopp on Shutterstock. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

March 07, 2024 08:30 AM Eastern Standard Time

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How Healthcare Triangle (NASDAQ: HCTI) Is Helping Drive AI Adoption In Healthcare

Benzinga

By Faith Ashmore, Benzinga AI is rapidly transforming the healthcare industry, with an increasing demand and need for its implementation. One of the key drivers behind this rising demand is the ability of AI algorithms to analyze large volumes of patient data, quickly identifying patterns and making accurate predictions about diseases, treatment plans and outcomes. The implementation of AI in healthcare has the potential to revolutionize the industry, improving patient outcomes, reducing costs, and ultimately, saving lives. Healthcare is at a pivot point where AI-driven solutions are becoming more and more common. Companies that were quick to adapt or are currently taking steps to integrate AI are likely to be much further ahead than companies that are resistant to the technology. However, not every healthcare company has the capacity to seamlessly integrate AI technology into its systems. That's where organizations like Healthcare Triangle Inc. (NASDAQ: HCTI) come into play. Healthcare Triangle works collaboratively with various healthcare entities, such as hospitals, health systems, payers and pharma/life sciences organizations. The company focuses on developing specific AI applications that address clinical needs across a wide range of medical specialties. Whether it's using predictive analytics in oncology or precision medicine in cardiology, its goal is to revolutionize patient care in every aspect. This tailored approach represents a shift towards a healthcare ecosystem where AI-driven insights play an integral role in clinical decision-making, ensuring that healthcare providers remain at the forefront of an ever-evolving industry. “As we navigate towards a future where AI integration becomes synonymous with healthcare excellence, our solutions and services will represent a crucial pivot point,” shared Anand Kumar, Chief Revenue Officer at Healthcare Triangle. “We are setting a new standard for patient care, leveraging AI and LLMs to deliver personalized, predictive, and effective healthcare solutions with our expertise in providing privacy and security adhering to our HITRUST certification and HIPAA compliance. The future is unequivocal in its demand for AI enablement, and with Healthcare Triangle, healthcare providers are equipped to meet this challenge head-on.” The market for AI in healthcare is forecasted to experience growth; in 2023, the global AI in healthcare market was valued at $22.45 billion and it is projected to reach $53.0 billion by 2024. This upward trend reflects the market's progression from $11.06 billion in 2021 to approximately $15.1 billion by the end of 2022. What's particularly noteworthy is the projected overall market value of $187.95 billion by 2030. AI has the potential to revolutionize healthcare among other sectors, and companies like Healthcare Triangle are helping shape the future. Featured photo by Steve Johnson on Unsplash Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

March 07, 2024 08:25 AM Eastern Standard Time

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Forum Health Tackles Chronic Illness Head On with Expansion of Two Clinics in the Midwest

Forum Health

Forum Health, LLC, nationwide network of integrative and functional medicine providers, reinforces its commitment to combating chronic illness with the addition of Golden Rey Integrative Medical Center led by Kristen H. Reynolds, MD, Founder and Medical Director. With two thriving locations in Wisconsin, the practice currently focuses on functional medicine with an expertise in chronic, complex conditions, including Lyme disease; and unique and effective treatments such as hyperbaric oxygen therapy and medical ozone therapies. Learn more about Golden Rey Integrative Medical Center here. Chronic illness is more prevalent than ever, and Lyme disease continues to be a leading culprit with approximately 476,000 people contracting Lyme disease each year in the United States. In 2022, Wisconsin alone had 5,327 cases of Lyme disease - more than doubled in the past 15 years with actual numbers likely to be much higher. Phil Hagerman, Forum Health CEO: “A significant portion of our patients come to Forum Health with some underlying chronic issue that traditional medicine has failed to identify, much less treat. Our expansion into this market is to fill an obvious and continued need.” Dr. Reynolds is triple-trained: board-certified in family medicine, fellowship-trained and board-certified in integrative medicine, and certified in functional medicine by the Institute for Functional Medicine. She has additional training in hyperbarics and medical ozone therapies. Kristen H. Reynolds, MD, Founder and Medical Director: “Healing from complex conditions began as a personal journey with my children and quickly grew into dedicating my practice to helping others heal using treatments not otherwise available in a conventional healthcare model. Forum Health will give us the platform and technology to grow and provide access to these services for even more people.” Golden Rey Integrative Medical Center offers a variety of treatments tailored to patients suffering from chronic symptoms including: IV Therapies Hyperbaric Oxygen Therapy Pulsed Electromagnetic Frequency (PEMF) Prolozone Medical Ozone Therapies Nutrition and Health Coaching Supplements Learn more about joining the Forum Health network here. About Forum Health, LLC Forum Health, LLC is a nationwide provider of personalized healthcare steeped in the powerful principles of functional and integrative medicine. Our providers take a root-cause approach to care exploring lifestyle, environment, and genetics to help each patient achieve their ultimate health goals. Members have access to advanced medical treatments and technology, with care plans informed by data analytics and collaborative relationships. For more, visit www.forumhealth.com. Contact Details Forum Health, LLC Britt Wittelsberger +1 410-852-0738 bwittelsberger@forumhealth.com Company Website https://forumhealth.com

March 06, 2024 08:50 AM Eastern Standard Time

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