REDWOOD CITY, Calif., Sep 07, 2022 (ACCESSWIRE) — Biotricity Inc. (NASDAQ:BTCY) (“Biotricity” or the “Company”), a medical diagnostic and consumer healthcare technology company, today announced that it will be carrying out an NIH-sponsored Phase I study of Bioflux-AI, Biotricity’s innovative artificial intelligence-driven (‘AI’) system of real-time monitoring and prediction technology, in subjects with Chronic Kidney Disease (‘CKD’).
The risk of ischemic and hemorrhagic stroke is 5 to 30 times higher in patients with CKD and has a mortality rate of up to three times that of the general population. Effective stroke risk prediction is currently flawed in CKD patients because comorbidities often remain undiagnosed and stroke risk stratification schemes do not consider stages of CKD. Additionally, the detection of stroke-risk variations due to dialysis requires real-time risk monitoring, which is unavailable to date.
Dr. Waqaas Al-Siddiq, Founder & CEO of Biotricity, commented, “We are pleased to be working on this critically important project with the NIH, further validating our current artificial intelligence technology and entering into a new disease profile for us in CKD. The real-time monitoring of stroke risk in CKD patients, and in particular for those undergoing dialysis, is likely to influence adopted therapeutic strategies and promote a more personalized therapeutic approach. Better care and prevention through monitoring of these high-risk patients is expected to reduce mortality rates and the high per-capita cost of treatment, which is currently five-times higher than the average healthcare spend. The completion of this feasibility study will pave the road for further development and optimization of the AI-based algorithm for stroke prediction in CKD patients. This will widen the application to a larger patient demographic, thereby validating the predictive algorithm for the potential benefit of patients with other chronic diseases.”
Biotricity is developing Bioflux-AI, an innovative system for real-time monitoring and prediction of stroke episodes in CKD patients. Bioflux-AI combines an FDA-approved, high-precision, small mobile cardiac telemetry (MCT) device with AI-driven algorithms specifically trained for the prediction of stroke in stage 4 and stage 5 CKD patients. Biotricity has previously generated and validated algorithms for the automated detection of ECG abnormalities, including Atrial Fibrillation (AF).
Given the strong association of AF with increased risk of blood clot formation and hence, ischemic stroke in CKD patients, Biotricity proposes to combine the detection of this arrhythmia with other stroke risk factors of CKD patients (age, weight, height, BMI, CKD status, diabetes, heart disease) and ECG parameters to predict stroke risk in real-time.
About Biotricity Inc.
Biotricity is reforming the healthcare market by bridging the gap in remote monitoring and chronic care management. Doctors and patients trust Biotricity’s unparalleled standard for preventive & personal care, including diagnostic and post-diagnostic solutions for chronic conditions. The company develops comprehensive remote health monitoring solutions for the medical and consumer markets. To learn more, visit www.biotricity.com.
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Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” “project,” or “goal” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans, objectives and goals of management for future operations, including plans, objectives or goals relating to the design, development and commercialization of Bioflux or any of the Company’s other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company’s future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company’s inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company’s inability to expand the Company’s business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company’s failure to implement the Company’s business plans or strategies. These and other factors are identified and described in more detail in the Company’s filings with the SEC. There cannot be any assurance that the Company will ever become profitable. During the three months ended June 30, 2020 the Company incurred a net loss attributable to common stockholders of $3.4 million. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Contacts:
Investor relations:
KCSA Strategic Communications
Valter Pinto or Jack Perkins
(212) 896-1254
Investors@biotricity.com
Media contacts
Erica Fiorini, Russo Partners
(212) 845-4253
Erica.Fiorini@russopartnersllc.com
