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Axmed raises $2 million to transform access to critical medicines in low and middle income countries

Axmed

For too long, low- and middle-income countries (LMICs) have borne the brunt of global health disparities—accounting for over 80% of the world's population and more than 90% of its disease burden—yet representing a mere 6% of global pharmaceutical revenue. Equitable access to high quality affordable medicines remains a daunting task, and addressing this challenge has never been more critical. Axmed, an innovative two-sided B2B marketplace platform, is taking a bold and meaningful step forward in addressing this disparity with the announcement of a $2 million seed funding round. This investment aims to accelerate the affordability, availability, and distribution of essential and innovative medicines in underserved regions. The fresh investment was led by Founderful and complements an earlier $5 million in grant funding from the Bill and Melinda Gates Foundation, bringing total funds raised to $7 million. These funds will bolster Axmed's expansion, enhancing its engineering and commercial teams and advancing its technology infrastructure to initiate operations in strategically selected markets within Africa and the Caribbean. Axmed's B2B marketplace optimises the procurement process for healthcare providers in emerging and growth markets, catering to public, third sector, and private entities. The platform aggregates demand for both off-patent and patented medicines, creating larger, more cost-effective order volumes for manufacturers while simultaneously enhancing buyer leverage on cost and availability. The platform further streamlines the process by curating and consolidating Requests for Proposals and efficiently mapping out supply logistics. This approach creates a win-win outcome: it lowers the barriers to accessing costly medicines for patients and providers, while enabling manufacturers to expand their footprint in underserved markets. Axmed's founding team brings together a wealth of expertise and dedication, with over 30 years of collective experience in healthcare, finance, and public-private partnerships. CEO Emmanuel Akpakwu, previously Chief Commercial Officer for Novartis AG's Sub-Saharan Africa operations, is joined by Felix Ohnmacht and Sofia Radley-Searle, who have held key positions at Novartis and GSK, respectively. Their united vision is to tackle healthcare inequity head-on. Emmanuel Akpakwu, CEO of Axmed commented: "We are not merely developing a medicines platform; we are creating a bold new vision for the future of medicine accessibility. This vision not only empowers buyers but also unlocks the full potential of growth markets, allowing suppliers to compete effectively.” This seed round propels Axmed into its next phase of strategic expansion, driving significant advancements in building out the engineering and business development teams, whilst preparing the platform for launch. Through targeted deployment of funds, Axmed will enhance its marketplace technology and forge alliances with key healthcare stakeholders to ensure a reliable supply of critical medicines. "We're delighted to back this outstanding team," added Lukas Weder, Founding Partner at Founderful. "The team's commitment and enthusiasm for addressing this important challenge is inspiring. We have every confidence in their ability to reshape the $140 billion LMIC pharma market, improving access to medicines for over 6 billion individuals. " Axmed's mission extends beyond technology; it's about forging critical partnerships and ensuring a steady flow of crucial medicines to those in need. Despite LMICs' small share of the global pharmaceutical market, they represent a burgeoning $140 billion sector, with Africa alone accounting for over $43 billion in pharmaceutical opportunity. The urgency for accessible and affordable healthcare solutions has never been more evident, especially in the wake of the COVID-19 pandemic, which highlighted the need for a coordinated and sustainable medicines marketplace tailored to LMICs. "Industry leaders and healthcare providers are aligned in their support for Axmed's model, recognizing its potential to significantly enhance medicine accessibility in Low and Middle-Income Countries. "Axmed's approach could fundamentally change how patients obtain treatments," remarked Roselyne Opel, Head of the Organisation of Eastern Caribbean States Pooled Procurement Initiative (OECS PPI). "We look forward to seeing their platform reshape access, empowering buyers and strengthening supply of lifesaving therapies to a broader patient base." James Nyamongo, CEO of the Nairobi Hospital, Kenya added: “Axmed’s approach not only empowers us to gain access to life-saving medicines affordably, it also fosters real competition that raises the quality bar, bringing the highest quality local and global manufacturers to our doorstep”. Thibaud Lefort, Head of Operations for Sanofi’s Global Health Unit, added: "Axmed’s model presents a powerful opportunity to deliver much needed positive change across global health. We are eager to see their platform transform the access landscape, improving supplier-ability to reach more patients with lifesaving therapies, especially in underserved environments” As the deadline for the UN Sustainable Development Goals approaches, Emmanuel Akpakwu reaffirms Axmed's commitment: "We are driven by the belief that radical solutions are necessary to build on the progress being made across the various facets of global health. Axmed represents such a solution, and we are eager to make a positive, lasting impact on the world." About Axmed Axmed is an innovative healthcare venture focused on transforming access to medicines across low- and middle-income countries (LMICs). Through its robust digital platform, Axmed operates a two-sided B2B marketplace that bridges the gap between pharmaceutical manufacturers/suppliers and healthcare providers, ensuring a steady, affordable supply of critical medicines. By leveraging technology, strategic partnerships, and a deep understanding of the unique challenges faced by LMICs, Axmed is committed to fostering sustainable health outcomes and accelerating global health equity. About Founderful Founderful is Switzerland’s leading pre-seed fund. We give every founder our deepest understanding and highest levels of support, and together, we’re building the future of the Swiss startup ecosystem. Contact Details Axmed Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.axmed.com/

May 08, 2024 08:00 AM Eastern Daylight Time

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Creo Medical honoured with King's Award for Enterprise in Innovation

Creo Medical Group PLC

Creo Medical Group PLC (AIM: CREO) CEO Craig Gulliford joins Proactive's Stephen Gunnion with the news that the company has been recognised with the King's Award for Enterprise in Innovation, an accolade honouring innovative UK companies for their impact in their respective sectors. The award highlights Creo's influence on patient outcomes through their advanced medical technologies. Gulliford emphasised the rare honour, noting that among over five million companies in the UK, only 59 received this award this year. The company leverages a unique combination of bipolar radiofrequency energy with microwave energy, focusing on miniaturising surgical procedures. This innovation has led to significant advancements in treatment effectiveness and cost-efficiency, particularly noted in a recent NHS case study that showcased substantial economic benefits, including a reduction in theatre costs and patient hospital stays. This recognition allows Creo Medical Group to join a select group of internationally recognised brands, enhancing their credibility and market presence. Gulliford expressed pride in the team's achievement and optimism about future innovations, particularly in addressing complex medical conditions like lung cancer. The award not only validates past efforts but also sets a high standard for the company's ongoing commitment to healthcare innovation. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

May 08, 2024 07:50 AM Eastern Daylight Time

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5thScape Lists "MMA Cage Conquest" on Meta Store: Step into the Ultimate Virtual MMA Arena

Spark Metro PR

Mixed Martial Arts fans and enthusiasts, your virtual fighting dreams have arrived! 5th Scape delivers a transformative experience with "MMA Cage Conquest," stepping far beyond traditional fighting games into true sensory immersion. Step into the iconic MMA cage, feel the roar of the crowd and become the champion you always envisioned. The 5thScape Project is an ambitious venture that aims to create a comprehensive Virtual Reality ecosystem. In this VR ecosystem many developers, gamers and experts from various industries can collaborate. This is a VR gaming studio startup in which they focus on developing games, movies, animations etc. Apart from this, they are also planning to launch a special VR headset and a VR Chair which is an ergonomically perfect chair for long gaming sessions. Now, coming back to the MMA Cage game, - "MMA Cage Conquest" redefines virtual combat. Its skill-based system demands true martial arts strategy along with honed reflexes. Learn and master strikes like a real-life wrestling professional. It includes (not limited to) powerful grappling throws and the intricacies of ground control to secure your victories. Feel the impact of every blow, the thrill of a perfectly executed submission, and the tension of a match fought on the razor's edge. Training lies at the heart of "MMA Cage Conquest." This journey transcends button-mashing and enters the realm of personal development. Start as an eager underdog, mastering the fundamentals through rigorous simulations. Refine your striking, defense, and ground game, tracking your progression and building unshakeable confidence. With each session, you don't just play the game – you live the fight. MMA Cage Conquest is all set to make gaming experiences more vigorous and a powerhouse for the senses. Feel the rush in your bones as you climb the leaderboards, and establish yourself as the ultimate MMA cage conqueror. Ready to unleash your inner champion? "MMA Cage Conquest" will be available on the Meta platform. Submitted for listing on May 2, 2024, the developers await approval. Visit 5thscape.com for trailers, release updates, and the latest news on your journey to become the undisputed MMA Cage conqueror. Contact Details 5th Scape 5th SCAPE Team +1 302-597-6768 team@5thscape.com Company Website https://5thscape.com

May 08, 2024 06:18 AM Eastern Daylight Time

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Telomir Pharmaceuticals sees breakthrough potential in Anti-Aging Treatment with Telomir 1

Telomir Pharmaceuticals Inc

Telomir Pharmaceuticals Co-Founder Frank O’Donnell joined Steve Darling from Proactive to share what the company believe is groundbreaking potential of their new drug designed to extend telomeres, which could reverse aging and age-related diseases. During a recent interview, O'Donnell elaborated on the drug’s potential, supported by extensive research in mice and successful trials in larger animals like a German shepherd. Drawing from his background in ophthalmology at Johns Hopkins, O'Donnell explained that the drug is developed to fight conditions such as macular degeneration by manipulating telomeres—protective caps on chromosomes that degrade over time. This innovative approach has shifted the company's focus from merely prolonging life to actively reversing signs of aging. O'Donnell also touched on the drug’s promising implications for veterinary medicine, particularly its potential benefits for older dogs suffering from osteoarthritis. Upcoming studies on dogs are planned to further prove the drug's effectiveness before moving to human clinical trials slated to begin in January 2025. Emphasizing the drug's transformative capabilities, O'Donnell spoke of its potential global impact by rejuvenating biological clocks and enhancing overall health. Currently, Telomir Pharmaceuticals is not seeking additional funding, opting instead to focus on advancing their research and commencing significant clinical trials. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com

May 07, 2024 03:02 PM Eastern Daylight Time

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PainReform Advances Pain Relief Solution, PRF-110, in Phase 3 Trial to Combat Opioid Crisis

PainReform Ltd

PainReform CEO Ilan Hadar joined Steve Darling from Proactive to discuss the company at the forefront of addressing the opioid crisis in the United States, is developing PRF-110, an innovative post-operative pain treatment designed as an alternative to traditional opioids. PRF-110 is applied directly by surgeons during procedures, offering patients up to 72 hours of continuous pain relief, potentially eliminating the need for additional pain medications post-surgery. The company is currently advancing a Phase III study in Texas to evaluate the effectiveness and safety of PRF-110. The study, which began in October 2023, has already seen significant progress with more than 50% of the target 400 patients enrolled. Completion of patient enrollment is expected by mid-year, and the study results are anticipated in the third quarter of the same year. A successful outcome from this study could pave the way for another Phase III trial focusing on soft tissue applications, slated to start in early 2025, with results expected by 2026. Should the upcoming trials confirm PRF-110’s efficacy and safety, PainReform plans to submit a New Drug Application in 2026. The company recognizes the significant market potential for non-opioid post-operative pain treatments, an area currently underexplored, and is positioning PRF-110 as a key player in transforming pain management practices post-surgery. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com

May 07, 2024 12:16 PM Eastern Daylight Time

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Medicus Pharma Plans Private Placement for Clinical Development Acceleration

Medicus Pharma

Dr. Raza Bokhari, Executive Chairman and CEO of Medicus Pharma joined Steve Darling from Proactive to shared insights with Proactive regarding the company's strategic initiatives, particularly its plans for a private placement of 100% unsecured convertible notes due in 2025. This move signifies a pivotal step in advancing the company's clinical development programs for novel and disruptive therapeutic assets. The private placement commenced with the first closing on May 1, involving the issuance of approximately US$5,172,500 aggregate principal amount of notes. Additionally, Medicus Pharma retains the option to issue additional notes, with the potential to reach up to US$10 million aggregate principal amount post-completion. Bokhari emphasized the company's unwavering focus on accelerating clinical development programs, underscoring the significance of the proceeds from the private placement. These funds will be allocated towards research and development initiatives, as well as fulfilling working capital needs crucial for advancing Medicus Pharma's therapeutic pipeline. One of the notable endeavors within the company's portfolio is SkinJect, a pioneering non-invasive treatment for basal cell skin cancer. Leveraging patented dissolvable microneedle patch technology, SkinJect aims to deliver chemotherapeutic agents effectively to eradicate tumor cells. By commercializing this innovative solution, Medicus Pharma seeks to address critical unmet medical needs and enhance patient outcomes in the realm of dermatological oncology. Through strategic financing and focused allocation of resources, Medicus Pharma is poised to bolster its clinical development efforts, bringing transformative therapeutic solutions to the forefront of patient care and medical innovation. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

May 07, 2024 12:06 PM Eastern Daylight Time

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Shedding Light on Cystic Fibrosis Awareness Month

YourUpdateTV

Cystic fibrosis (CF) is a rare, progressive, and genetic disease that currently affects about 40,000 people in the United States. CF is the result of a defective gene, inherited from each parent, and the disease can impact people of all races and ethnicities. Recently, KC White, Board Chair of the Cystic Fibrosis Foundation, participated in a nationwide satellite media tour to discuss the disease, her personal journey, and how the Foundation is helping progress care and treatment options. A video accompanying this announcement is available at: https://youtu.be/8wj8u0JEqLU CF is a life-shortening disease that prevents our bodies from clearing mucus. This can lead to lung infections, poor nutrition, lung disease, and a host of unique challenges that can impact every aspect of a person’s life. When it was first discovered, it was considered a fatal pediatric disease. But due to transformative advancements in treatments and high-quality care, the life-expectancy for someone born with CF today is 56. While that number is climbing there is still a long way to go and unfortunately, not all people with CF equally benefit from this progress. KC White was elected chair of the Cystic Fibrosis Foundation’s Board of Trustees in 2022 after serving on the Board since 2005. Diagnosed with cystic fibrosis at age 3, White has been a committed volunteer and inspiring advocate for the Foundation since childhood and is the first person with CF to serve as board chair. When she was diagnosed, she wasn’t expected to live past high school age, but her family refused to accept that fate, which prompted their dedication to the Foundation’s work. Because of recent treatments known as modulators, about 90% of the CF population (including KC) experienced an incredible transformation in their health. With this though, comes navigating unplanned challenges including careers, finances, family, and more. In addition to fueling the research, particularly in genetic therapies, that will lead to transformative treatments for the entire CF population, the CF Foundation works to support the CF community in all aspects of their lives through support programs and fostering connection opportunities. Every May, the cystic fibrosis community comes together for CF Awareness Month to educate the public about the rare disease, share personal stories, and encourage people to get involved and unite behind a shared mission: finding a cure for all people with CF. The CF Foundation is committed to finding a cure and providing all people with CF the opportunity to lead long, fulfilling lives. The Foundation is aggressively funding research and drug development, advancing high-quality, specialized care, and partnering with and advocating for the CF community. For more information, visit CFF.ORG/CFMONTH About KC White KC White was elected chair of the Cystic Fibrosis Foundation’s Board of Trustees in 2022 after serving on the Board since 2005. Diagnosed with cystic fibrosis at age 3, White has been a committed volunteer and inspiring advocate for the Foundation since childhood, speaking at her first Foundation event when she was only 9 years old. She is the first person with CF to serve as board chair. White received her Master of Applied Positive Psychology from the University of Pennsylvania in 2022 and currently serves as an assistant instructor in the program. She is also the Head Varsity Women’s Lacrosse coach for the Chagrin Falls, Ohio, Tigers. She and her husband, Justin, have one son, Mac. About the Cystic Fibrosis Foundation The Cystic Fibrosis Foundation is a donor-supported nonprofit organization leading the relentless pursuit of a cure for cystic fibrosis. The Foundation is committed to providing all people with CF the opportunity to lead long, fulfilling lives by funding research and drug development, advancing high-quality, specialized care, and partnering with and advocating for the CF community. The Foundation funds more CF research than any other organization, and nearly every CF drug available today was made possible because of Foundation support. The organization supports and accredits a national network of over 130 CF care centers recognized by the National Institutes of Health as a model of care for a chronic disease. Also, the Foundation manages support programs and fosters connection opportunities for the CF community. Based in Bethesda, Md., the Foundation’s impact is made possible by the work of nearly 70 local chapters across the country. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

May 07, 2024 09:23 AM Eastern Daylight Time

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InMed (NASDAQ: INM) Developing Cannabinoids Analogs To Treat Alzheimer's – New Studies Showcase INM-901's Therapeutic Abilities

Benzinga

By Meg Flippin, Benzinga Whether due to an aging population or overall population growth, cases of Alzheimer's are increasing. As it stands, nearly seven million Americans suffer from this disease that attacks memory and cognitive functions. By 2050, that’s forecast to reach close to 13 million people. The costs associated with treating Alzheimer's and dementia are projected to swell to $1 trillion by 2050 from $360 billion today. Alzheimer’s is the fifth leading cause of death for people 65 and older. There are several treatments on the market, but they focus on addressing the symptoms rather than repairing and regenerating the damaged neurons. Some drugs and treatments may slow the progression of cognitive decline, but none can reverse the effects of Alzheimer’s. That may change thanks to companies like InMed Pharmaceuticals Inc. (NASDAQ: INM). The leader in cannabinoid and cannabinoid analogs pharmaceutical research, development, manufacturing and commercialization has identified a rare cannabinoid to treat Alzheimer’s. Named INM-901 and based on early preclinical research, the cannabinoid analog showed potential to target several biological pathways associated with Alzheimer’s, providing neuroprotection to the brain neurons and improving neuronal function. Fighting Alzheimer’s With Cannabinoids Recent in vivo studies have shown that INM-901 can improve cognitive function and memory, locomotor activity, anxiety-based behavior, sound awareness and neuronal function. INM-901 also displayed neuroprotective effects by reducing cell death in an amyloid-beta-induced cytotoxicity study. Most recently, the company announced additional preclinical data demonstrating INM-901’s positive pharmacological effects. Several preclinical studies that were conducted in well-characterized Alzheimer’s models demonstrated that INM-901 was able to reduce neuroinflammation and improve neuronal function. The company said the studies also supported the observations made in previously released behavior studies in which locomotor activity, cognition and memory were improved. As a result of these studies, InMed said it plans to accelerate the development of its Alzheimer’s program. Currently, long-term behavioral and mechanism of action / receptor interaction studies are underway with data read-out expected in the third quarter. Meanwhile, InMed said the development of the chemistry, manufacturing and controls (CMC) for drug substance and oral drug product formulation are on-going. “The recent results demonstrating pharmacological effects in in vivo disease models continue to validate INM-901 as a potential treatment of AD,” said Dr. Eric Hsu, Senior Vice President of Preclinical Research and Development at InMed. “There continues to be a major unmet medical need for this multi-factorial disease and differentiated therapeutic mechanisms may play an important role. We believe the development of INM-901 may address several pathological factors including neuroinflammation, neuroprotection and neuritogenesis.” Multiple Mechanisms Of Action InMed said it is particularly encouraged that INM-901 has multiple potential ways of impacting the cannabinoid 1 (CB1) and cannabinoid 2 (CB2) receptors and the peroxisome proliferator-activated receptor (PPAR) signaling pathway. CB1 and CB2 receptors are part of the endocannabinoid system and are found throughout the body, including in the brain. CB1 receptors are primarily located in the central nervous system, particularly in areas involved in memory, cognition and motor function. CB2 receptors are involved in modulating neuroinflammation and immune responses. Activation of CB1 and CB2 receptors has been shown to help protect brain cells from damage and death. In Alzheimer’s where neuronal death is a hallmark feature, enhancing the activity of these receptors may help to slow down the progression of the disease, reports InMed. Activation of these receptors and other cellular receptors has also been shown to have an impact on neuroinflammation, which is believed to contribute to the progression of Alzheimer’s. As a result, InMed believes INM-901 could offer novel therapeutic strategies for the treatment of this devastating condition. Adding To Its Expertise To further develop INM-901, InMed is deepening its pedigree, and it recently added Dr. David G. Morgan, a renowned leader in neurodegenerative disease, to its Scientific Advisory Board. This reinforces InMed’s commitment to advancing its INM-901 program for the treatment of Alzheimer’s disease. Morgan is the director of the Alzheimer’s Alliance and MSU Foundation Professor of Translational Neuroscience at Michigan State University. His research interests are Alzheimer’s disease, aging and brain function. He is internationally recognized for his work on immunotherapy and gene therapy to treat Alzheimer-related pathologies. “We are privileged to welcome someone of Dr. Morgan’s stature to our SAB, which underscores the recent progress we’ve achieved in the INM-901 program. Dr. Morgan’s significant contributions and pioneering breakthroughs have made him a leading authority in Alzheimer’s research. His guidance and expertise will be invaluable as we advance to the next stages of development of our INM-901 program in the treatment of Alzheimer’s,” said Hsu. The number of Alzheimer’s cases is set to soar in the years to come as the population ages. InMed wants to slow that, and is betting INM-901 can help. So far studies are backing that up, with more data to come this year. 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 not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

May 07, 2024 09:00 AM Eastern Daylight Time

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New Study Shows Cardio Diagnostics’ (NASDAQ: CDIO) PrecisionCHD Test Could Save Health Insurers Over $113 Million Annually

Cardio Diagnostics Holdings, Inc

By Jeremy Golden, Benzinga Cardio Diagnostics (NASDAQ: CDIO), an artificial intelligence-powered precision cardiovascular medicine company that makes cardiovascular disease prevention and early detection more precise, has announced the publication of results from a budget impact modeling study for one of its leading clinical products. PrecisionCHD is an integrated genetic-epigenetic test for the detection of coronary heart disease (CHD). The peer-reviewed study, The Use of Precision Epigenetic Methods for the Diagnosis and Care of Stable Coronary Heart Disease Reduces Healthcare Costs, highlights the test’s promising developments. The study’s PrecisionCHD budget impact model was designed to evaluate the cost savings associated with using PrecisionCHD as the primary method of initial CHD assessment in place of current commonly used tests, including exercise electrocardiograms, coronary computed tomography angiography (CCTA) and angiograms. It considered factors such as the number of tests performed, the cost of each test and the impact of test results on treatment decisions. The results suggest that using PrecisionCHD could lead to significant cost savings for patients, with an estimated $113.6 million saved per year for a plan with one million members. These savings are primarily driven by the lower cost of PrecisionCHD compared to traditional tests, along with the reduced need for additional testing. Further, the model found that cost savings were not sensitive to patient demographics or insurance plan design. Similar results were observed for plans that exclude Medicare enrollees, only include Medicare enrollees (Part B or Medicare Advantage), offer large co-insurance rates and charge larger co-pays. PrecisionCHD is a multiomic DNA test that aids in the detection of stable CHD. The test evaluates six DNA methylation and ten genetic biomarkers and uses a proprietary machine learning model to interpret the genetically contextual methylation signals from these biomarkers. The sensitivity and specificity of this test are 79% and 76%, respectively, with the clinical validation study in collaboration with Intermountain Healthcare and University of Iowa Hospitals and Clinics being recently published in the Journal of American Heart Association. “The data from this study suggests that the broader use of PrecisionCHD as the initial test for detecting coronary heart disease can yield significant savings to payers,” said David Frisvold, PhD, Associate Professor in the Department of Economics at the University of Iowa and lead author of this study. “More importantly, the reported cost savings were shown to be generalizable to various health plans, potentially leading to increased access to care and improved outcomes for patients with CHD.” PrecisionCHD was recently awarded the Current Procedural Terminology (CPT) Proprietary Laboratory Analyses (PLA) code, 0449U, by the American Medical Association. It became effective on April 1, 2024. PrecisionCHD was also awarded the Innovation Technology contract from Vizient, the United States’ largest group purchasing organization, whose customer base encompasses over 60% of hospitals and 97% of academic medical centers in the country. Increasing Access, Reducing Costs Heart disease remains the leading cause of death among Americans. It is also one of the largest cost centers for payers. If the barriers to obtaining early cardiovascular care persist, the prevalence and costs associated with heart disease will likely increase. Currently, exercise electrocardiogram, CCTA and single photon emission computed tomography (SPECT) are among the initial tests used to diagnose CHD. These tests are resource-intensive, and require expensive infrastructure and specialized personnel, creating inherent barriers to broader adoption, especially in rural America. The continued reliance on these tests as the initial testing mode for CHD diagnosis could lead to higher costs for payers. Some of the current tests also involve risks that are associated with being exposed to radiation and contrast dyes that could affect the health of the patient long term. Cardio Diagnostics says that PrecisionCHD, on the other hand, is a more cost-efficient, highly scalable and less resource-intensive alternative for initial CHD detection testing. Its sensitive and specific performance minimizes the likelihood of false positives and negatives, potentially decreasing the need for costly follow-up tests and procedures. Furthermore, PrecisionCHD can be implemented virtually via telemedicine and at-home for blood sample collection. It can also be deployed in community settings via mobile health clinics as well as in a more traditional provider setting.This multimodal delivery approach means greater access for patients, and Cardio Diagnostics expects potential additional cost savings for payers as well, with earlier detection and management of CHD. “We believe that PrecisionCHD has the potential to revolutionize how coronary heart disease is diagnosed and managed,” said Robert Philibert, MD, PhD, Chief Medical Officer and co-founder of Cardio Diagnostics, and the senior author of the study. “We are confident that PrecisionCHD will drive value for many healthcare stakeholders including the patient, provider and payer.” Optimizing Cost Efficiency Health plans increasingly prioritize precision medicine solutions to enhance patient outcomes and optimize cost-efficiency, reflecting an industry-wide transition from personalized to precision medicine. This evolution is underpinned by integrating genomic, clinical and socio-economic data, enabling healthcare providers to customize treatment approaches and advance therapeutic innovation. Similarly, provider-led health plans face the same challenges in optimizing patient care while reducing unnecessary medical spending. PrecisionCHD stands out as a resource for health insurers and healthcare providers aiming to streamline the management and financial burden of CHD. As health systems increasingly adopt value-based care (VBC) models, the focus is increasingly on achieving superior patient outcomes and improved population health while maintaining cost-effectiveness. Throughout last year, the expansion and refinement of VBC models have underscored a concerted effort among healthcare providers, payers and policymakers to enhance patient care and manage expenses effectively. This strategic alignment with VBC frameworks highlights the significant role of tools like PrecisionCHD. These tools support targeted, data-driven decisions in CHD treatment and management, potentially revolutionizing approaches to healthcare delivery and cost management. Featured photo by Testalize.me on Unsplash Cardio Diagnostics is an artificial intelligence-powered precision cardiovascular medicine company that makes cardiovascular disease prevention, detection, and management more accessible, personalized, and precise. The Company was formed to further develop and commercialize clinical tests by leveraging a proprietary Artificial Intelligence (AI)-driven Integrated Genetic-Epigenetic Engine (“Core Technology”) for cardiovascular disease to become one of the leading medical technology companies for improving prevention, detection, and treatment of cardiovascular disease. For more information, please visit www.cardiodiagnosticsinc.com. Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. When used in this press release, the words or phrases “will”, "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intend," “goal,” or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, economic conditions, dependence on management, dilution to stockholders, lack of capital, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth and demand for products and services of the Company, newly developing technologies, the Company’s ability to compete, regulatory matters, protection of technology, the effects of competition and the ability of the Company to obtain future financing. An extensive list of factors that can affect future results are discussed in the Current Report on Form 10-K for the period ended December 31, 2022 and Form 10-Q for the period ended March 31, 2023, under the heading “Risk Factors” in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Gene Mannheimer - Investor Relations +1 855-226-9991 investors@cardiodiagnosticsinc.com Company Website https://cardiodiagnosticsinc.com/

May 07, 2024 08:45 AM Eastern Daylight Time

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