Periodic Reporting for period 1 - NeuroPsyCAD (Artificial Intelligence for early and accurate neuropsychiatric diagnosis)
Reporting period: 2017-12-01 to 2018-05-31
The 2015 Organisation for Economic Cooperation and Development (OECD) Health Report urged countries to act to improve the lives of the millions of people living with dementia and to continue prioritizing timely diagnosis. To further establish dementia as a public health priority, “Global Plan of Action on the Public Health Response to Dementia 2017- 2025” was unanimously adopted by 194 countries of WHO on May 2017, during the 70th World Health Assembly (WHA 70). Furthermore, in April 2018, the European Commission presented its Communication on Digital Transformation of Health and Care in the Digital Single Market that puts forward actions to pool patient data across Europe to boost research and spur the development of personalized medicine.
The NeuroPsyCAD device has potential to enhance the diagnostic capability of existing imaging modalities whose current clinical utility in the diagnosis of degenerative neurological disease is limited. MRI, at present, has limited clinical value and is used mostly to rule out other neurological diseases or abnormalities rather than to support (rule in) the diagnosis. Contrary, the NeuroPsyCAD device relates, by usage of artificial intelligence algorithms, MRI patterns to specific neurological conditions, thereby aiding their early detection. The NeuroPsyCAD device software will be seamlessly integrated in the diagnostic work-flow and inform the neuroradiologists. It will not replace the existing standard of care but supplement it.
Finally, we have worked on our marketing and financial plans, focusing on commercial and communication strategy as well as sales forecast, cost analysis and sources of financing.
At present time, the company is perfecting its algorithms for Alzheimer’s (including discerning mild cognitive impairment), Fronto Temporal Dementia (“FTD”), Parkinson’s and Parkinsonian syndromes. The company is also expanding its collaborations and partnerships with renowned clinicians and hospitals to advance our work and preparing a commercialization strategy.
NeuroPsyCAD’s software could create a much higher demand for MRI, which will commercially benefit MRI manufacturers and generate savings to the healthcare system as a result of streamlining diagnosis. In the case of FTD (front temporal dementia) the clinical need is stronger as the disease if very challenging to diagnose currently and more expensive modalities are utilized to aid its detection (Functional MRI). The role of MRI imaging in Parkinson disease is so far very limited and transitioning from expensive PET scanner to MRI could result in significant cost savings.