Issued on behalf of Avant Technologies Inc.
VANCOUVER – USA News Group News Commentary – The United States is poised for a transformative leap in AI innovation as President Trump unveiled a private massive $500 billion investment in AI infrastructure, made by OpenAI, Softbank, Oracle, and MGX, in a move expected to profoundly influence the lives of Americans and ripple across the globe. In parallel, the healthcare sector is swiftly integrating AI technologies, with market analysts from Technavio forecasting a staggering $125.7 billion growth in the Smart Healthcare Market by 2028. The World Economic Forum (WEF) recently highlighted five pivotal ways AI is revolutionizing healthcare, including brain scan analysis, bone fracture detection, ambulance logistics, AI-driven clinical chatbots, and the early identification of over 1,000 diseases. As this burgeoning field gains momentum, companies such as Avant Technologies, Inc. (OTC-BB:AVAI), IQVIA Holdings Inc. (NYSE:IQV), NVIDIA Corporation (NASDAQ:NVDA), Novo Nordisk A/S (NYSE:NVO), and iCAD, Inc. (NASDAQ:ICAD).
The article continued: Spotify founder Daniel Ek’s HealthTech startup, Neko Health, recently closed a $260 million funding round, boosting its valuation to $1.8 billion. Meanwhile, Oracle Chairman Larry Ellison, during the announcement of President Trump’s “Project Stargate,” underscored the groundbreaking potential of AI in early cancer detection and the development of innovative treatments.
Avant Technologies to Play Key Role in Ainnova’s U.S. FDA Clinical Study for Its Vision AI Platform
Avant Technologies, Inc. (OTC-BB:AVAI), an emerging leader in AI-driven healthcare innovation, and its partner, Ainnova Tech, a leading healthcare technology company focused on revolutionizing early disease detection using AI, announced that Avant has started the budgeting process to fund Ainnova’s upcoming interactions with the U.S. Food and Drug Administration (FDA). Ainnova will begin by requesting a pre-submission meeting with the FDA for guidance on the clinical testing needed for its Vision AI platform in the early detection of diabetic retinopathy, which will culminate with an FDA 510(k) submission to obtain clearance from the FDA to market its technology.
Ai-nova Acquisition Corp. (AAC), the company formed by the partnership between Avant and Ainnova to advance and commercialize Ainnova’s technology portfolio, including its “Vision AI” platform and its versatile retinal cameras, has the licensing rights for this portfolio in the U.S., so the success of Ainnova’s interactions with the FDA are paramount to marketing the technology portfolio in the United States.
For medical device applicants like Ainnova, the FDA’s pre-submission program is useful to determine a clear regulatory pathway for the successful launch of the device, including the number of patients and the number of clinics needed to generate the necessary clinical data for the FDA to make an informed decision on Ainnova’s Vision AI platform. For Avant, the pre- submission meeting will help define a precise budget for the strategic partnership’s entire FDA process.
Ainnova expects to submit its Pre-Sub application in the coming weeks and expects to meet with the FDA for its Pre-Sub meeting in late March/early April 2025. Additionally, Ainnova will also interact with the FDA to devise a plan to obtain clearance for four algorithms it recently acquired the exclusive licensing rights to, which include early detection for cardiovascular risk, prediabetes and Type 2 diabetes, fatty liver disease, and chronic kidney disease.
Late last year, Avant announced a game-changing collaboration with pharma giant Roche, highlighting Avant’s ability to partner with global healthcare leaders and leverage its innovative technologies for real-world impact. Together with Ainnova and Salud 360, Avant set forth to launch a pilot program to combat diabetic retinopathy has been launched in Costa Rica. This initiative uses VisionAI to automate retinal image analysis, identifying early disease markers and facilitating timely interventions. If successful, the program aims for broader adoption in the United States, Canada, and Europe through AAC.
“At Roche, we are committed to timely diagnosis of diseases to improve clinical outcomes and thus contribute to the sustainability of the healthcare system,” said, Alvaro Soto, General Manager of Roche Central America, Caribbean, and Venezuela. “By leveraging technology, we seek to improve lives, optimize diagnoses, and ensure that every patient has access to timely and effective treatment. With this model, we not only seek to address the problem of diabetic retinopathy, but also to establish a replicable path for other diseases that require innovative solutions.”
CONTINUED… Read this and more news for Avant Technologies Inc. https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
Other recent industry developments and happenings in the market include:
IQVIA Holdings Inc. (NYSE:IQV), a leading global provider of clinical research services, commercial insights, and healthcare intelligence, recently announced a strategic collaboration with NVIDIA Corporation (NASDAQ:NVDA) to help realize the potential of AI in healthcare and life sciences.
Due to the vast amounts of data generated by the healthcare and life sciences industries, the collaborating companies see significant potential for AI-powered solutions. By joining forces, IQVIA and NVIDIA will help accelerate IQVIA Healthcare-grade AI™, enabling new levels of agentic automation of complex and time-consuming workflows across the therapeutic life cycle with the precision, scalability, and trust required by IQVIA’s customers. IQVIA has been leading in the responsible use of AI, ensuring that its AI-powered capabilities are grounded in privacy, regulatory compliance, and patient safety. IQVIA Healthcare-grade AI™ represents the company’s commitment to these principles.
"This represents a significant leap forward in how we apply AI to healthcare and life sciences," said Bhavik Patel, president, Commercial Solutions, IQVIA. "We are excited to combine our industry-leading capabilities and a decade of experience in artificial intelligence with NVIDIA’s advanced AI technologies. We will build new solutions powered by AI agents trained on world-class healthcare information and optimized for life sciences workflows. This collaboration will advance our mission to help our clients accelerate innovation and treatments to market."
The collaboration will combine IQVIA’s unparalleled information assets, analytics, and domain expertise, known as IQVIA Connected Intelligence™, with the NVIDIA AI Foundry service to help transform life science processes from R&D through commercialization. This work is poised to create new efficiencies, enable new operating models, and ultimately improve patient outcomes.
"By integrating NVIDIA AI Foundry platform and services, IQVIA can enhance its Healthcare-grade AI solutions to create custom, domain-specific models and agents for thousands of complex workflows needed in healthcare and life sciences," said Kimberly Powell, Vice President of Healthcare for NVIDIA. "AI agents can become digital companions to researchers, doctors and patients, helping unlock enormous productivity and expanding access to care globally."
Novo Nordisk A/S (NYSE:NVO), a Danish drug-making giant, recently expanded upon its 2023 agreement with US tech firm Valo Health to develop new treatments for cardiometabolic diseases using human data and AI. As per the agreement, Novo Nordisk is committing $190 million to expand the alliance to more disorders, including obesity, type 2 diabetes, and cardiovascular disease. Valo is eligible to receive milestone payments of approximately $4.6 billion, plus R&D funding and potential royalty payments.
“We are very pleased with the progress we have made together with Valo during the first year of our collaboration, and we are excited to expand the scope to put a stronger focus on obesity and type 2 diabetes in addition to cardiovascular disease,” said Marcus Schindler, Executive Vice President and Chief Scientific Officer of Novo Nordisk. “We have already begun to realize the potential of combining the capabilities of Valo and Novo Nordisk to advance multiple AI-powered, human-centric programmes, and we believe this partnership will help Novo Nordisk fulfil our ambition to expand the number of new drug programmes we bring to the clinic.”
iCAD, Inc. (NASDAQ:ICAD), a global leader in clinically proven AI-powered cancer detection solutions, announced back in December it would present four novel AI-driven breast cancer at the 2024 San Antonio Breast Cancer Symposium (SABCS. The clinical abstracts highlighted the latest research in breast health AI, focusing on improving detection and risk prediction accuracy and assessing disparities across diverse populations. AI algorithms demonstrated consistent performance across racial and density groups, enabling accurate detection of breast arterial calcifications and stratifying breast cancer risk, with implications for equitable healthcare and opportunities for early interventions in cardiovascular and cancer care.
“These studies exemplify the critical role the ProFound AI Breast Health Suite can play in not only improving early breast cancer detection and risk prediction but also in addressing health disparities in diverse populations,” said Dana Brown, President and CEO of iCAD. “We are proud to collaborate with Solis Mammography and Karolinska Institute contributing to groundbreaking research that can elevate the standard of care in breast health worldwide. These partnerships demonstrate the potential of our technology to improve patient outcomes, and also opens pathways to broader adoption of AI in healthcare, driving growth in key markets.”
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