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EvokAI Creative Labs acquires company Advancience Ag partnering with the University of Basel


BASEL, SWITZERLAND, May 25, 2022 /CNW/ - EvokAI Creative Labs Inc. ("EvokAI" or the "Company"), a leading MedTech AI-powered company dedicated to the development of transformational and innovative technologies for the healthcare sector, is pleased to announce the acquisition of Advancience AG ("Advancience"), a Swiss-based data science company, partnering with the University of Basel. This acquisition will strengthen the portfolio of the Company, accelerate the go to market strategy and expand its total addressable market. Advancience's artificial intelligence-enhanced diagnostic profiles provide a solid basis to monitor mental wellbeing and enable advances in medical diagnoses.

"The world is changing and advancing at speeds we couldn't have ever imagined, over the last few decades life expectancy has increased dramatically around the globe, but not quality of life. And here is where we need to ask to ourselves, ¿should science's focus be on quantity or quality of life? There is no doubt that a balance is required to extend our lives, the way to reach this balance is by reducing aging. Our main focus at EvokAI is to provide the second part of the equation, "quality", by applying a new set of AI-powered solutions across the whole healthcare sector," commented Alejandro Antalich, Co-Founder of EvokAI.

"EvokAI continues building the next platform for brain health and recovery today, it's all about bringing innovation to mental health. Our concept is aimed at measuring the invisible, what really happens in our brain, the less controlled organ of our body. We are changing the status quo in mental health, observing performance and behaviors in virtual world setups instead of relying on self-reports. It's also tremendously important to be able to spot arising problems as soon as possible, knowing what's typical is the most important foundation to know if something is out of the ordinary."

"We are very excited about the acquisition of Advancience, it positions us a step closer of bridging the gap between neuroscience and artificial intelligence, enabling the interaction human-machine to predict, diagnose, treat, recover and adapt to different circumstances caused by neurological diseases. AI applied to personalized health care will be the key element in the new and healthy way of living, a change that will bring a significant impact to mankind and the global economy."

"Moving forward with EvokAI's expansion plan, this acquisition will allow us to tackle one of the most severe neurodegenerative diseases, Alzheimer's, which is becoming more common as the general population gets older and lives longer. Changes in the brain begin years before a person shows any signs of the disease and it can last for years. Improved psychodiagnostics will lead to more effective and personalized treatment strategies that far exceed current options."

"EvokAI's expertise in AI and machine learning based algorithms, intellectual property, preclinical and clinical trials, coupled to Advancience's novel toolset for accurately tracking mental fitness via repeated, continuous and autonomous measurements that can take place in patients' homes, will allow patients to remain independent for longer, thus relieving the burden on health systems through massive cost reductions. As we prepare for our next wave of growth, we intend to go beyond neurodegenerative diseases, targeting Attention Deficit Hyperactivity Disorder (ADHD), as one of the most common conditions in childhood associated with severe emotional distress and social impairment," concluded Alejandro Antalich.

Advancience offers digital and fully automated testing of human characteristics and cognition, providing a detailed psychometric profile. Tracking mental fitness/health recurrently over time is essential in obtaining reliable data and observing changes that can be early warning signs of the onset of a disease. Measuring changes in cognition is decisive for assessing drug efficacy. Specifically, a steadily and easily expandable online platform containing psychometric instruments in the guise of enjoyable games suitable across different age categories and cultures. Computer games can do way more than entertain, they can, particularly, be designed to simulate all kind of scenarios. This makes them a perfect tool to probe, assess and even predict human behavior. Games will propel psychology and all other disciplines that depend on measuring human traits or skills.

About EvokAI Creative Labs Inc.

EvokAI is a MedTech AI-powered company dedicated to the development of transformational and innovative technologies for the modern healthcare sector. We deploy machine learning models to search medical data and uncover insights to help improve health outcomes, patient experiences, drug development, preclinical and clinical decisions and provide more accurate diagnoses. EvokAI tailors its AI algorithms across the whole healthcare system, from hospitals, private clinics, research institutions, pharmaceutical companies, contract research organizations, to medical professionals, patients, healthy individuals aiming at preventing any kind of disease and beyond, protecting the aging genome.

About Advancience AG.

Advancience is a Swiss-based data science company that develops and applies highly scalable game-based software solutions for the digital measurement of human behavior, intellectual capacity and cognitive functioning. We drive precision in brain health and functioning related diagnostics by using digitized smart data acquisition, ultra-large reference cohorts and automated advanced statistical analysis. Our online-based toolkit enables advances in medical diagnostics in the field of psychiatry and neurology by incorporating objective measures of mental functioning. Low threshold access to our neuropsychological instruments, automated AI-based evaluation over time and highest-level data privacy protection by system design also allow efficient diagnostics and outpatient monitoring for ADHD and, at a later stage, early detection of changes in mental health, such as detection of cognitive decline in preclinical Alzheimer's disease.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

SOURCE EvokAI Creative Labs Inc


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