Research study follows deployment of Cognetivity's ICA in Ketamine One's North American clinics and will open up novel, tailored use cases in burgeoning mental health market
VANCOUVER, BC, Dec. 2, 2021 /CNW/ - Cognetivity Neurosciences Ltd. (the "Company" or "Cognetivity") (CSE: CGN) (OTCQB: CGNSF) (FWB: 1UB) today announced that it is entering into a collaborative partnership with KetamineOne Capital Ltd ("Ketamine One") to study and develop assessments for depression and post-traumatic stress disorder ("PTSD").
In the initial stage of the partnership, Cogentivity and Ketamine One will partner on two separate clinical studies, one for depression and the second for PTSD. Protocols for both studies have received Institutional Review Board ("IRB") approval and patient recruitment is expected to occur in early 2022. Ketamine One's wholly owned subsidiary, KGK Science Inc., will lead the study, while Cognetivity will lead the analysis.
Ketamine One is a next-generation health and wellness company focused on transforming the treatment of mental health through the provision of ketamine-assisted therapy and psychedelic medicines. Based in Canada and operating clinics throughout North America, the firm is dedicated to building the critical infrastructure needed to provide breakthrough and life-changing treatments for conditions such as anxiety, depression, PTSD, chronic pain and addiction.
Cognetivity's Integrated Cognitive Assessment ("ICA") technology has already been deployed throughout Ketamine One's network of clinics in North America after the two companies entered into a commercial agreement earlier this year. In the latest phase of their collaboration, the ICA will be used to monitor changes in patients' cognitive ability as they undergo ketamine-assisted treatment for depression and PTSD.
The clinical studies will add to the extensive body of data validating the ICA's use as a cognitive testing tool. It has already been widely deployed in clinical care, from North America and the Middle East to clinics in the UK's National Health Service. The project will also generate novel intellectual property regarding the ICA's predictive and long-term monitoring capabilities – not only on a stand-alone basis, but in combination with additional variables, including data from wearable devices, to support the creation of dedicated new products for specialist care in the areas of depression and PTSD.
It is well known that there is vast potential for improvement in the treatment of such conditions. According to the WHO, mental health disorders account for 28% of the global burden of disability-adjusted life years among non-communicable diseases – more than cardiovascular disease or cancer. Every year, more than 12 billion working days are lost due to mental health conditions, costing the global economy USD 16 trillion in economic output between 2011 and 2030. The global market for PTSD therapeutics is expected to reach USD 3.1 billion by 2027, with the global market for the treatment of anxiety disorders and depression predicted to exceed 13 billion by the same year.
"We're delighted to be extending our relationship with Cognetivity through this exciting new research project," said Adam Deffett, Interim CEO of Ketamine One. "Depression and PTSD are sadly very common conditions and existing approaches to treating them leave a lot to be desired. With the crucial involvement of the ICA, this study will further demonstrate the power of our therapies as we pursue our goal of changing how mental health is treated across North America."
Also commenting on the announcement, Dr Sina Habibi, CEO of Cognetivity, said, "It's great to be working with Ketamine One on these clinical studies. We are very excited about obtaining high-quality clinical validation data on the use of the ICA to assess and monitor patients with depression and PTSD, and developing exciting new technology to better serve this important market. These disease areas represent important use cases for the ICA beyond its core application as a clinical tool for early detection of cognitive impairment. Expanding into applications such as this demonstrates the strength of the technology's fundamental capabilities and the ongoing global need for much-improved cognitive testing across a huge number of areas."
About Cognetivity Neurosciences Ltd.
Cognetivity is a technology company that has created a cognitive testing platform for use in medical, commercial and consumer environments. Cognetivity's ICA uses Artificial Intelligence and machine learning techniques to help detect the earliest signs of cognitive impairment by testing the performance of large areas of the brain. The ICA is currently available for clinical use in the USA, UK and Europe, with regulatory approval for other regions planned for 2022.
About Ketamine One
KetamineOne Capital Limited (formerly Myconic Capital Corp.) is a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments. It is working to provide the critical infrastructure needed to develop and deliver breakthrough mental health treatments. Currently, Ketamine One has a network of clinics across North America, with plans to further consolidate the highly fragmented industry. KGK Science Inc. is the Company's wholly owned contract research division, which places it at the forefront of premium clinical research based on the subsidiary's history and extensive experience in pharmaceuticals, cannabis, and the emerging psychedelic medicine industries. As a collective enterprise, Ketamine One is dedicated to helping solve the growing need for safe and accessible mental health therapy.
For more information, please visit: www.ketamine.one.
ON BEHALF OF THE BOARD
Chief Executive Officer and Director
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SOURCE Cognetivity Neurosciences Ltd
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