TORONTO, Jan. 30, 2023 /CNW/ – (CSE: MEND) (Frankfurt: 8TV) (OTC: MNNDF) -Today we would like to announce that Nurosene Health Inc. (the “Company” or “NetraMark”) will change our official corporate name to NetraMark Holdings Inc. This will be effective February 1, 2023 and we will continue to trade on the Canadian Securities Exchange (CSE), however, under the new trading symbol “AIAI”.
“This is reflective of the strategic shift that has been unfolding at our company and is a clear demonstration to our shareholders of our commitment to our corporate vision”, said CEO George Achilleos. “It is our intent to be a leader in the development of Artificial Intelligence (AI) / Machine Learning (ML) solutions targeted at the pharmaceutical industry. This is an important time for AI and there is a clear opportunity in the pharmaceutical industry, as outlined below”.
The market problem
Less than 12% of the candidate medicines successfully make it through the clinical trial process and receive approval by the FDA.
The market challenge
The ability to apply AI methods to small datasets (95% of trials have less than 1,000 participants) and extract statistically significant insights that can be utilized to enrich future studies.
The NetraMark approach
After 5+ years in development, we have launched NetraAI – 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. This allows NetraMark to use a variety of ML methods, depending on the character and size of the data, to transform the data into powerfully intelligent data that activates traditional AI / ML methods. The result is that NetraMark can work with much smaller datasets and accurately segment diseases into different types, as well as accurately classify patients for sensitivity to drugs and / or efficacy of treatment.
“I am excited about our capabilities to have a meaningful impact on an industry that our team has been a part of for many years. The name change certainly reflects the work we have done to develop NetraAI, a unique machine learning system that provides an intuitive interface for scientists to interact with multimodal small datasets to uncover connections related to efficacy, toxicity and placebo response”, said President, Josh Spiegel.
Following receipt of all regulatory approvals, the Company expects that its common shares will commence trading under its new name and new stock symbol AIAI on or about February 1, 2023. The new CUSIP number for the Company’s common shares will be 64119M105, and the new ISIN number will be CA64119M1059. There is no change in the share capital of the Company, and shareholders are not required to exchange their existing share certificates for new certificates.
About NetraMark
NetraMark is a company focused on being a leader in the development of Artificial Intelligence (AI) / Machine Learning (ML) solutions targeted at the Pharmaceutical industry.
For further details on the Company please see the Company’s publicly available documents filed on the System for Electronic Document Analysis and Retrieval (SEDAR).
Forward-Looking Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation including statements regarding the proposed change of our name and stock symbol, our strategic focus going forward, the validation of the NetraAI technology and its capabilities to find unique insights from small datasets and to solve the core challenges associated with clinical trials which are based upon NetraMark’s current internal expectations, estimates, projections, assumptions and beliefs, and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance, or other statements that are not statements of fact. The forward-looking statements are expectations only and are subject to known and unknown, risks, uncertainties and other important factors that could cause actual results of the Company or industry results to differ materially from future results, performance or achievements. Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, NetraMark does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise. New factors emerge from time to time, and it is not possible for NetraMark to predict all such factors.
When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements as set out in the materials we file with applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com including our Management’s Discussion and Analysis for the year ended September 30, 2022. These risk factors and other factors could cause actual events or results to differ materially from those described in any forward-looking information.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
