Issued on behalf of Avant Technologies Inc.
VANCOUVER – USA News Group News Commentary – The integration of artificial intelligence (AI) into the healthcare sector is accelerating at an unprecedented pace. One of the latest milestones in this evolution comes from private AI startup OpenEvidence, which recently secured a significant $75 million funding round led by Sequoia. This investment pushes the company’s valuation to $1 billion as it works to expand its AI-powered chatbot for doctors. Market analysts at Research and Markets forecast the Conversational AI in Healthcare Market to climb to $48.87 billion by 2030, driven by an impressive 23.84% compound annual growth rate (CAGR). Industry experts suggest that modernizing outdated health IT systems with AI will be the key to advancing value-based care, setting a new benchmark for healthcare efficiency. Meanwhile, several companies are making notable strides in this space, including Avant Technologies, Inc. (OTCQB: AVAI), Spectral AI, Inc. (NASDAQ: MDAI), Absci Corporation (NASDAQ: ABSI), Schrödinger, Inc. (NASDAQ: SDGR), and Medtronic plc (NYSE: MDT).
The article continued: Recent research from SNS Insider indicates that the Generative AI in Healthcare Market, which stood at $1.7 billion in 2023, is on track to reach an estimated $19.99 billion by 2032, expanding at an impressive 31.5% CAGR. Additionally, analysts at Fortune Business Insights predict the Global AI in Healthcare Market will surge to $490.96 billion by 2032, fueled by an astonishing 43.2% CAGR over the same period.
Avant Technologies Reaches Global Development and Licensing Deal with Partner, Ainnova Tech, Ahead of FDA Meetings
Avant Technologies, Inc. (OTCQB: 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, and its partner Ainnova Tech, a leading healthcare technology company focused on revolutionizing early disease detection using artificial intelligence (AI), today announced that the companies have agreed to expand the territory for Ai-nova Acquisition Corp. (AAC), the joint venture formed by both companies. In an addendum to the December 2024 Joint Venture Agreement between Avant and Ainnova, AAC’s territory now includes a global license to develop and market Ainnova’s “technology portfolio.”
The partnership was formed to advance and commercialize Ainnova’s portfolio, including its Vision AI platform and its proprietary versatile retinal camera technology. Vision AI is a cutting-edge, AI-driven platform that can detect diabetic retinopathy and other retinal diseases, as well as diseases unrelated to the retina like cardiovascular disease, prediabetes and type 2 diabetes, fatty liver diseases, and chronic kidney disease with high accuracy and speed using retinal scans. Meanwhile, Ainnova’s next-generation versatile retinal cameras are seamlessly integrated with Vision AI for precise retinal scans.
Under the amended agreement, Ainnova’s Vision AI software, combined with its retinal cameras, will offer AAC SaaS + retinal camera commercialization opportunities with opticians and eye care centers worldwide.
Avant has broadened its territory, through the joint venture, ahead of Ainnova’s meetings with the U.S. Food and Drug Administration (FDA) to prepare for a planned FDA clinical trial with its Vision AI platform. 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.
For Avant, the presubmission meeting will help define a precise budget for the strategic partnership’s entire FDA process, and the success of Ainnova’s interactions with the FDA are paramount to AAC marketing the technology portfolio in the United States.
Late in 2024, Avant announced a groundbreaking partnership with pharmaceutical giant Roche, showcasing its ability to collaborate with global healthcare leaders and apply its cutting-edge technology to real-world challenges. In collaboration with Ainnova and Salud 360, Avant launched a pilot program in Costa Rica aimed at tackling diabetic retinopathy. This initiative leverages VisionAI to automate retinal image analysis, enabling early detection of disease markers and supporting timely medical interventions. If the program proves successful, it could pave the way for broader adoption across the United States, Canada, and Europe through AAC.
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:
Spectral AI, Inc. (NASDAQ: MDAI), developer of the AI-driven DeepView® System, which received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in 2018 and uses multi-spectral imaging and AI algorithms to predict burn healing potential, recently announced the satisfaction of its final remaining obligations under its debt facility with Yorkville Advisors. Spectral retains access to additional financing of up to $17.5 million under an existing standby equity purchase agreement.
“I am pleased to share this milestone as we continue advancing toward our FDA submission and work to bring our technology to burn care institutions across the U.S.,” said Dr. J. Michael DiMaio, MD, Chairman of the Board at Spectral AI.
Absci Corporation (NASDAQ: ABSI), a data-first generative AI drug creation company, and Owkin, a TechBio that uses agentic AI to unlock complex targets for drug discovery, development, and diagnostics, recently announced a partnership bringing together two leading AI platforms to rapidly discover and design novel therapeutics for patients.
“At Absci, we’re constantly pushing the boundaries of innovation to bring better biologics to patients faster,” said Sean McClain, Founder and CEO of Absci. “By combining Absci’s AI de novo design expertise with Owkin’s world-class predictive AI target discovery technology, we have a unique opportunity to design first-in-class and potentially transformative therapeutics for patients in need.”
Schrödinger, Inc. (NASDAQ: SDGR) recently provided an update on its progress across the business in 2024, and announced its strategic priorities for 2025. As well, Schrödinger announced that it expanded its research collaboration with Otsuka to add another undisclosed target to its previously announced agreement.
“We are very proud of our accomplishments in 2024,” said Ramy Farid, Ph.D., CEO of Schrödinger. “We advanced the capabilities of our computational platform and leveraged the synergies in our business, which included signing a multi-target research collaboration and expanded software licensing agreement with Novartis. We are pleased another innovative pharmaceutical company is engaged with us through both large-scale utilization of our software and through drug discovery collaborations. We have a very important year ahead of us and are committed to driving growth in our software business, advancing our collaborative pipeline and reporting initial Phase 1 data from our three lead proprietary therapeutic programs.”
Medtronic plc (NYSE: MDT), a global leader in healthcare technology, recently announced the FDA’s approval of BrainSense™ Adaptive deep brain stimulation (aDBS) and BrainSense™ Electrode Identifier (EI) for people with Parkinson’s disease.
“Medtronic is the only company in the world to offer an adaptive DBS system that dynamically adjusts therapy in real time,” said Brett Wall, executive vice president and president of the Medtronic Neuroscience Portfolio. “This new era in Parkinson’s care represents more than a decade of intentional innovation—ushering in personalized neuromodulation at scale that responds to a patient’s changing needs, equipping clinicians with unparalleled insights, and setting a new standard for DBS therapy.”
CONTACT:
USA NEWS GROUP
(604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Avant Technologies Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares Avant Technologies Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Avant Technologies Inc. which were purchased in the open market. MIQ reserves the right to buy and sell, and will buy and sell shares of Avant Technologies Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
