Latest news with #LightAI
Yahoo
4 days ago
- Business
- Yahoo
Emerging Markets Report: Shedding Some Light
A Recent Update from Light AI Gives Readers a Road Map for the Future An Emerging Markets Sponsored Commentary ORLANDO, Fla., June 03, 2025 (GLOBE NEWSWIRE) -- While there are no crystal balls in modern financial markets there are the words of those who know more, who share from the inside out the state of affairs inside a public company and speak to its future. One would think the word 'public' in the descriptor for traded company would compel such disclosures, more transmissions to the markets about what's happening and bold dreams for the moments to come. Sadly, such missives are more rare than what we as watchers of the market would like to see making a recent press release from Light AI Inc. (OTCQB: OHCFF) (CBOE CA: ALGO) (FSE: 0HC) a global healthcare technology company focused on developing artificial intelligence health diagnostic and wellness solutions, a most welcomed offering. But you see, this welcome news is made more interesting because, well, the Company is more interesting than most as it is positioned at the intersection of two rapidly expanding markets, Healthcare and Artificial Intelligence (AI). Both industries are forecast to enjoy rapid expansion, Healthcare driven primarily be an aging population, and AI, well, because it seems as if it just might be used in nearly every industry in some form or fashion in the days and decades to come. If you don't believe this to be true, cut bait now and go look for that aforementioned crystal ball. If you concur as we do then spend a couple paragraphs to find out a little more about Light AI and what it just told the market. In a release just before Valentine's Day, Light AI posted a business update that essentially takes us inside the boardroom, on the white board, and maybe, a just a little bit inside the CEO's head. It's chock full of good news, the Company's critical AI mature algorithm is exceeding expectations, so much so that the process integrating into professional and wellness vertical has been expedited. For us, that sure sounds like it could be a path to potential revenue. The Company also points to product validation efforts that suggest a mindfulness in their offering. French author Voltaire famously said, 'With great power comes great responsibility,' which might well be the front bumper sticker for an AI industry that many view with dual quantums of enthusiasm and caution. But quite notably, the report ends with an update on the Company's efforts on the African continent. A cut and paste is warranted: The Company anticipates partnering with Tech Care For All ('TC4A') to roll out the Company's platform to the LMIC market, initially focusing on Africa. TC4A is a social impact company whose goal is to accelerate digital health in Africa and Asia to improve health outcomes in underserved communities. TC4A developed and operates a global medical learning platform targeting healthcare professionals in LMIC markets. This partnership will allow the Company platform to be introduced as a screening tool in markets that do not require the FDA approval, enabling the Company to seek a path to near-term revenue. The first phase of the project involves conducting a pilot go-to-market study to assess the clinical efficacy, clinical pathways, use cases, economics, reimbursement and subscription models and cloud infrastructure needs and deployment strategies in four initial countries – Kenya, Uganda, Nigeria and South Africa, with a plan to subsequently roll out the technology in such countries. Assuming the successful conclusion of the first phase market study, the Company's intention is to use the results of the pilot study to design go-to market strategies and roll out the technology in 16 additional African countries. Assuming the successful conclusion of the second phase roll out, the Company's intention would be to launch a diagnostic offering, through global distributions partners, based on the technology in these countries following receipt of required regulatory approvals. The Company anticipates that smartphones will be supplied to practitioners by TC4A agents on behalf of the Company. Following the completion of the market landscape analysis in Africa, the Company and TC4A are exploring a similar analysis for the Indian market, with the potential for TC4A to manage licensing and regulations on a country-by-country basis. Timely detection of GAS at the point of care has the potential to generate material financial savings for healthcare payers. Implementing the Company's smartphone-based tool for GAS in Africa and LMIC markets could yield a substantial dollar saving by reducing the need for in-clinic testing and minimizing the expensive treatment costs associated with untreated cases. Additionally, early intervention can prevent indirect costs related to productivity losses, estimated to be a significant economic strain on families, who often rely on income from daily work to meet essential needs. First off, we love that the Company is looking to bring high tech health care innovation to a continent too often ignored by the most avant garde of technology. And we love the scale that Africa presents and that the release uses the phrase 'across Africa' to describe the opportunity. Updates about Light AI's African efforts will be most welcomed. All-in-all, the update is an impressive assemblage of good news for the Company and a reason to keep their news feed on the proverbial radar. About The Emerging Markets Report: The Emerging Markets Report is owned and operated by Emerging Markets Consulting (EMC), a syndicate of investor relations consultants representing years of experience. Our network consists of stockbrokers, investment bankers, fund managers, and institutions that actively seek opportunities in the micro and small-cap equity markets. For more informative reports such as this, please sign up at: Must Read OTC Markets/SEC policy on stock promotion and investor protection Section 17(b) of the Securities Act of 1933 requires that any person that uses the mails to publish, give publicity to, or circulate any publication or communication that describes a security in return for consideration received or to be received directly or indirectly from an issuer, underwriter, or dealer, must fully disclose the type of consideration (i.e. cash, free trading stock, restricted stock, stock options, stock warrants) and the specific amount of the consideration. In connection therewith, EMC has received the following compensation and/or has an agreement to receive in the future certain compensation, as described below. We may purchase Securities of the Profiled Company prior to their securities becoming publicly traded, which we may later sell publicly before, during or after our dissemination of the Information, and make profits therefrom. EMC does not verify or endorse any medical claims for any of its client companies. EMC has been paid $150,000 by Light AI Inc. for various marketing services including this report. EMC does not independently verify any of the content linked-to from this editorial. Forward-Looking Statements This article contains forward-looking statements about Light AI Inc., which are identified by terms such as "anticipate," "expect," and "project." These statements reflect current views regarding company performance, business goals, healthcare market expectations, and intellectual property development. The statements are based on current business and market expectations. However, they involve various risks and uncertainties, including potential delays, financial difficulties, operational challenges, and problems protecting intellectual property. Additional risks include possible regulatory approval delays, market disruptions, personnel issues, and competitive pressures. Given these risks and uncertainties, actual results may differ significantly from what is described in the forward-looking statements. Readers should not place undue reliance on these statements, which are only valid as of the article's publication date and we undertake no obligation to update. For Media Inquiries, please contact Maggie Caraway: maggie@
Yahoo
4 days ago
- Business
- Yahoo
Emerging Markets Report: Shedding Some Light
A Recent Update from Light AI Gives Readers a Road Map for the Future An Emerging Markets Sponsored Commentary ORLANDO, Fla., June 03, 2025 (GLOBE NEWSWIRE) -- While there are no crystal balls in modern financial markets there are the words of those who know more, who share from the inside out the state of affairs inside a public company and speak to its future. One would think the word 'public' in the descriptor for traded company would compel such disclosures, more transmissions to the markets about what's happening and bold dreams for the moments to come. Sadly, such missives are more rare than what we as watchers of the market would like to see making a recent press release from Light AI Inc. (OTCQB: OHCFF) (CBOE CA: ALGO) (FSE: 0HC) a global healthcare technology company focused on developing artificial intelligence health diagnostic and wellness solutions, a most welcomed offering. But you see, this welcome news is made more interesting because, well, the Company is more interesting than most as it is positioned at the intersection of two rapidly expanding markets, Healthcare and Artificial Intelligence (AI). Both industries are forecast to enjoy rapid expansion, Healthcare driven primarily be an aging population, and AI, well, because it seems as if it just might be used in nearly every industry in some form or fashion in the days and decades to come. If you don't believe this to be true, cut bait now and go look for that aforementioned crystal ball. If you concur as we do then spend a couple paragraphs to find out a little more about Light AI and what it just told the market. In a release just before Valentine's Day, Light AI posted a business update that essentially takes us inside the boardroom, on the white board, and maybe, a just a little bit inside the CEO's head. It's chock full of good news, the Company's critical AI mature algorithm is exceeding expectations, so much so that the process integrating into professional and wellness vertical has been expedited. For us, that sure sounds like it could be a path to potential revenue. The Company also points to product validation efforts that suggest a mindfulness in their offering. French author Voltaire famously said, 'With great power comes great responsibility,' which might well be the front bumper sticker for an AI industry that many view with dual quantums of enthusiasm and caution. But quite notably, the report ends with an update on the Company's efforts on the African continent. A cut and paste is warranted: The Company anticipates partnering with Tech Care For All ('TC4A') to roll out the Company's platform to the LMIC market, initially focusing on Africa. TC4A is a social impact company whose goal is to accelerate digital health in Africa and Asia to improve health outcomes in underserved communities. TC4A developed and operates a global medical learning platform targeting healthcare professionals in LMIC markets. This partnership will allow the Company platform to be introduced as a screening tool in markets that do not require the FDA approval, enabling the Company to seek a path to near-term revenue. The first phase of the project involves conducting a pilot go-to-market study to assess the clinical efficacy, clinical pathways, use cases, economics, reimbursement and subscription models and cloud infrastructure needs and deployment strategies in four initial countries – Kenya, Uganda, Nigeria and South Africa, with a plan to subsequently roll out the technology in such countries. Assuming the successful conclusion of the first phase market study, the Company's intention is to use the results of the pilot study to design go-to market strategies and roll out the technology in 16 additional African countries. Assuming the successful conclusion of the second phase roll out, the Company's intention would be to launch a diagnostic offering, through global distributions partners, based on the technology in these countries following receipt of required regulatory approvals. The Company anticipates that smartphones will be supplied to practitioners by TC4A agents on behalf of the Company. Following the completion of the market landscape analysis in Africa, the Company and TC4A are exploring a similar analysis for the Indian market, with the potential for TC4A to manage licensing and regulations on a country-by-country basis. Timely detection of GAS at the point of care has the potential to generate material financial savings for healthcare payers. Implementing the Company's smartphone-based tool for GAS in Africa and LMIC markets could yield a substantial dollar saving by reducing the need for in-clinic testing and minimizing the expensive treatment costs associated with untreated cases. Additionally, early intervention can prevent indirect costs related to productivity losses, estimated to be a significant economic strain on families, who often rely on income from daily work to meet essential needs. First off, we love that the Company is looking to bring high tech health care innovation to a continent too often ignored by the most avant garde of technology. And we love the scale that Africa presents and that the release uses the phrase 'across Africa' to describe the opportunity. Updates about Light AI's African efforts will be most welcomed. All-in-all, the update is an impressive assemblage of good news for the Company and a reason to keep their news feed on the proverbial radar. About The Emerging Markets Report: The Emerging Markets Report is owned and operated by Emerging Markets Consulting (EMC), a syndicate of investor relations consultants representing years of experience. Our network consists of stockbrokers, investment bankers, fund managers, and institutions that actively seek opportunities in the micro and small-cap equity markets. For more informative reports such as this, please sign up at: Must Read OTC Markets/SEC policy on stock promotion and investor protection Section 17(b) of the Securities Act of 1933 requires that any person that uses the mails to publish, give publicity to, or circulate any publication or communication that describes a security in return for consideration received or to be received directly or indirectly from an issuer, underwriter, or dealer, must fully disclose the type of consideration (i.e. cash, free trading stock, restricted stock, stock options, stock warrants) and the specific amount of the consideration. In connection therewith, EMC has received the following compensation and/or has an agreement to receive in the future certain compensation, as described below. We may purchase Securities of the Profiled Company prior to their securities becoming publicly traded, which we may later sell publicly before, during or after our dissemination of the Information, and make profits therefrom. EMC does not verify or endorse any medical claims for any of its client companies. EMC has been paid $150,000 by Light AI Inc. for various marketing services including this report. EMC does not independently verify any of the content linked-to from this editorial. Forward-Looking Statements This article contains forward-looking statements about Light AI Inc., which are identified by terms such as "anticipate," "expect," and "project." These statements reflect current views regarding company performance, business goals, healthcare market expectations, and intellectual property development. The statements are based on current business and market expectations. However, they involve various risks and uncertainties, including potential delays, financial difficulties, operational challenges, and problems protecting intellectual property. Additional risks include possible regulatory approval delays, market disruptions, personnel issues, and competitive pressures. Given these risks and uncertainties, actual results may differ significantly from what is described in the forward-looking statements. Readers should not place undue reliance on these statements, which are only valid as of the article's publication date and we undertake no obligation to update. For Media Inquiries, please contact Maggie Caraway: maggie@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Light AI Reports Financial Results for Q1 2025
VANCOUVER, BC, May 15, 2025 /CNW/ - Light AI Inc. ("Light AI" or the "Company") (CBOE CA: ALGO) (FSE: 0HC) (OTCQB: OHCFF), a healthcare technology company focused on developing artificial intelligence ("AI") health diagnostic and wellness solutions, today announced its financial and operating results for its first quarter of 2025 representing the three months ended March 31, 2025. Financial information is reported in Canadian dollars ("$") unless otherwise stated and in accordance with International Financial Reporting Standards ("IFRS"). Financial and Operating Results Summary for Q1 2025 The Company is currently in the development stage of its software technology offering which is anticipated to be completed with related commercialization commencing in Q3 2025. During the three months ended March 31, 2025, the Company had total operating expenses, exclusive of interest, depreciation and share based payments, of approximately $4.2 million compared to approximately $1.4 million in the three months ended March 31, 2024 with the increase primarily attributable to the Company's continued investment in product development with total research and development expenses of approximately $1.2 million in Q1 2025 compared to approximately $919,000 in the prior year period in addition to marketing and investor relations activities. The Company had cash of $11.9 million as of March 31, 2025 compared to $15.2 million as of December 31, 2025. On January 8, 2025, the Company closed the second of two tranches of the Offering by issuing 2,757,000 units of the Company at $0.55 per unit for aggregate gross proceeds of $1,516,350. The Company had Adjusted Working Capital of $12.6 million as of March 31, 2025 compared to $14.6 million as of December 31, 2025. "Light AI has made strong progress throughout the first quarter of 2025, inclusive of going public with the completion of related equity financings totaling $18.5 million and strengthening our leadership team with the appointments of Anthony Schaller as President and CTO, John Tse as VP Commercial Development and George Reznik as CFO," stated Peter Whitehead, CEO of Light AI. "We are committed to commercializing the Company's AI oriented health and wellness software application in Q3 2025 to address various medical conditions including Strep A, COVID19 and Conjunctivitis (pink eye) to capitalize on our sizable market opportunity leveraging Light AI's first mover advantage with our innovative, patented and disruptive technology." Financial Statements and Management Discussion & Analysis Please see the Company's consolidated financial statements ("Financial Statements") and related Management's Discussion & Analysis ("MD&A") for more details. The Financial Statements for the three months ended March 31, 2025, and related MD&A have been reviewed and approved by the Company's Audit Committee and Board of Directors. For a more detailed explanation and analysis, please refer to the MD&A that has been filed on SEDAR+ at and is also available on the Company's website at Non-IFRS and Other Financial Measures This press release refers to the following non-IFRS measures: "Adjusted Working Capital" is comprised as current assets less current liabilities. Management believes Adjusted Working Capital is a useful indicator for investors, and is used by management, for evaluating the operating liquidity to the Company. See "Adjusted Working Capital Reconciliation" for a quantitative reconciliation of Adjusted Working Capital to the most directly comparable financial measure. Such non-IFRS measures and non-IFRS ratio do not have a standardized meaning under IFRS and may not be comparable to a similar measure disclosed by other issuers. Adjusted Working Capital Reconciliation March 31, 2025 December 31, 2024 Current Assets $14,970,514 $17,126,245 Less: Current Liabilities ( 2,352,273) ( 2,481,677) Adjusted Working Capital $12,618,241 $14,644,568 About Light AI Inc. (CBOE CA: ALGO / FSE: 0HC / OTCQB: OHCFF) Light AI Inc. is a technology company focused on developing artificial intelligence health diagnostic solutions. Light AI is developing a technology platform which represents the next generation of patient management: it applies AI algorithms to smartphone images—starting with images of Strep A and anticipated expansion with COVID19 along with other medical conditions —to identify the disease in seconds. Its patented, app-based solution requires no swabs, lab tests or proprietary hardware of any kind—its hardware platform is the 4.5 billion smartphones that exist in the world today. Light AI is at the forefront of developing innovative diagnostic solutions aimed at improving healthcare delivery worldwide. Their cutting-edge AI powered technology offers rapid, accurate, and cost-effective diagnostic tools designed to address critical healthcare challenges. In pre-FDA validation studies, Light AI's algorithm demonstrated remarkable accuracy in differentiating between viral and bacterial pharyngitis, specifically targeting Group A Streptococcus (GAS). The algorithm achieved a 96.57% accuracy rate and attained a Negative Predictive Value of 100%, indicating its high reliability in confirming the absence of Streptococcus A infection. Viral and GAS pharyngitis affects over 600 million people annually worldwide. If left untreated, GAS pharyngitis can lead to serious complications such as Rheumatic Heart Disease (RHD), which imposes a global economic burden exceeding $1 trillion annually. Light AI's technology offers a significant advancement in the accurate and timely diagnosis of GAS pharyngitis, potentially reducing the incidence of RHD and its associated costs. Light AI's approach to applying AI to smartphone images can be expanded to other throat conditions, as well as other areas of analysis, such as the human eye and skin. Light AI's vision is to combine the smartphone with AI in-the-Cloud to create a Digital Clinical Lab that provides quick and accessible diagnosis for countless conditions that today require expensive and time-consuming imaging or lab processes. Light AI's commercial launch of its consumer-facing Wellness App initial offering is anticipated to be available in North America in Q3 2025. ON BEHALF OF THE COMPANY "George Reznik"George ReznikChief Financial OfficerTelephone: 604-307-6800Email: greznik@ For more information, please contact the Company at investors@ or visit Website: LinkedIn/company/Light AIX (Formerly Twitter): @lightaihealth Forward-Looking Information: This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the Company's research and development and commercialization initiatives, the anticipated inflection of the business, the Company's financial and operational performance and outlook and other statements that contain words such as "believe," "expect," "project," "should," "seek," "anticipate," "will," "intend," "positioned," "risk," "plan," "may," "estimate" or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release. For a list of the factors that may affect any of the Company's forward-looking statements, please refer to the Company's annual information form dated April 14, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under its SEDAR+ profile at Light AI disclaims any intention or obligation to update or revise any forward-looking information contained in this news release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this news release is expressly qualified in its entirety by this cautionary statement. SOURCE Light AI Inc. View original content to download multimedia:
Cision Canada
15-05-2025
- Business
- Cision Canada
Light AI Reports Financial Results for Q1 2025
VANCOUVER, BC, May 15, 2025 /CNW/ - Light AI Inc. (" Light AI" or the " Company") (CBOE CA: ALGO) (FSE: 0HC) (OTCQB: OHCFF), a healthcare technology company focused on developing artificial intelligence ("AI") health diagnostic and wellness solutions, today announced its financial and operating results for its first quarter of 2025 representing the three months ended March 31, 2025. Financial information is reported in Canadian dollars ("$") unless otherwise stated and in accordance with International Financial Reporting Standards ("IFRS"). Financial and Operating Results Summary for Q1 2025 The Company is currently in the development stage of its software technology offering which is anticipated to be completed with related commercialization commencing in Q3 2025. During the three months ended March 31, 2025, the Company had total operating expenses, exclusive of interest, depreciation and share based payments, of approximately $4.2 million compared to approximately $1.4 million in the three months ended March 31, 2024 with the increase primarily attributable to the Company's continued investment in product development with total research and development expenses of approximately $1.2 million in Q1 2025 compared to approximately $919,000 in the prior year period in addition to marketing and investor relations activities. The Company had cash of $11.9 million as of March 31, 2025 compared to $15.2 million as of December 31, 2025. On January 8, 2025, the Company closed the second of two tranches of the Offering by issuing 2,757,000 units of the Company at $0.55 per unit for aggregate gross proceeds of $1,516,350. The Company had Adjusted Working Capital of $12.6 million as of March 31, 2025 compared to $14.6 million as of December 31, 2025. "Light AI has made strong progress throughout the first quarter of 2025, inclusive of going public with the completion of related equity financings totaling $18.5 million and strengthening our leadership team with the appointments of Anthony Schaller as President and CTO, John Tse as VP Commercial Development and George Reznik as CFO," stated Peter Whitehead, CEO of Light AI. "We are committed to commercializing the Company's AI oriented health and wellness software application in Q3 2025 to address various medical conditions including Strep A, COVID19 and Conjunctivitis (pink eye) to capitalize on our sizable market opportunity leveraging Light AI's first mover advantage with our innovative, patented and disruptive technology." Financial Statements and Management Discussion & Analysis Please see the Company's consolidated financial statements ("Financial Statements") and related Management's Discussion & Analysis ("MD&A") for more details. The Financial Statements for the three months ended March 31, 2025, and related MD&A have been reviewed and approved by the Company's Audit Committee and Board of Directors. For a more detailed explanation and analysis, please refer to the MD&A that has been filed on SEDAR+ at and is also available on the Company's website at This press release refers to the following non-IFRS measures: "Adjusted Working Capital" is comprised as current assets less current liabilities. Management believes Adjusted Working Capital is a useful indicator for investors, and is used by management, for evaluating the operating liquidity to the Company. See "Adjusted Working Capital Reconciliation" for a quantitative reconciliation of Adjusted Working Capital to the most directly comparable financial measure. Such non-IFRS measures and non-IFRS ratio do not have a standardized meaning under IFRS and may not be comparable to a similar measure disclosed by other issuers. Adjusted Working Capital Reconciliation March 31, 2025 December 31, 2024 Current Assets $14,970,514 $17,126,245 Less: Current Liabilities ( 2,352,273) ( 2,481,677) Adjusted Working Capital $12,618,241 $14,644,568 About Light AI Inc. (CBOE CA: ALGO / FSE: 0HC / OTCQB: OHCFF) Light AI Inc. is a technology company focused on developing artificial intelligence health diagnostic solutions. Light AI is developing a technology platform which represents the next generation of patient management: it applies AI algorithms to smartphone images—starting with images of Strep A and anticipated expansion with COVID19 along with other medical conditions —to identify the disease in seconds. Its patented, app-based solution requires no swabs, lab tests or proprietary hardware of any kind—its hardware platform is the 4.5 billion smartphones that exist in the world today. Light AI is at the forefront of developing innovative diagnostic solutions aimed at improving healthcare delivery worldwide. Their cutting-edge AI powered technology offers rapid, accurate, and cost-effective diagnostic tools designed to address critical healthcare challenges. In pre-FDA validation studies, Light AI's algorithm demonstrated remarkable accuracy in differentiating between viral and bacterial pharyngitis, specifically targeting Group A Streptococcus (GAS). The algorithm achieved a 96.57% accuracy rate and attained a Negative Predictive Value of 100%, indicating its high reliability in confirming the absence of Streptococcus A infection. Viral and GAS pharyngitis affects over 600 million people annually worldwide. If left untreated, GAS pharyngitis can lead to serious complications such as Rheumatic Heart Disease (RHD), which imposes a global economic burden exceeding $1 trillion annually. Light AI's technology offers a significant advancement in the accurate and timely diagnosis of GAS pharyngitis, potentially reducing the incidence of RHD and its associated costs. Light AI's approach to applying AI to smartphone images can be expanded to other throat conditions, as well as other areas of analysis, such as the human eye and skin. Light AI's vision is to combine the smartphone with AI in-the-Cloud to create a Digital Clinical Lab that provides quick and accessible diagnosis for countless conditions that today require expensive and time-consuming imaging or lab processes. Light AI's commercial launch of its consumer-facing Wellness App initial offering is anticipated to be available in North America in Q3 2025. ON BEHALF OF THE COMPANY "George Reznik" George Reznik Chief Financial Officer Telephone: 604-307-6800 Email: [email protected] For more information, please contact the Company at [email protected] or visit Forward-Looking Information: This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the Company's research and development and commercialization initiatives, the anticipated inflection of the business, the Company's financial and operational performance and outlook and other statements that contain words such as "believe," "expect," "project," "should," "seek," "anticipate," "will," "intend," "positioned," "risk," "plan," "may," "estimate" or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release. For a list of the factors that may affect any of the Company's forward-looking statements, please refer to the Company's annual information form dated April 14, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under its SEDAR+ profile at
Cision Canada
07-05-2025
- Business
- Cision Canada
Light AI Strengthens Intellectual Property Portfolio with Two New European Patents
Light AI's European patent has been validated in the UK and Spain with utility patents covering 17 European countries To date, Light AI's technology has been issued five US and global patents pertaining to the image processing of Streptococcal infection in Pharyngitis VANCOUVER, BC, May 7, 2025 /CNW/ - Light AI Inc. (" Light AI" or the " Company") (CBOE CA: ALGO) (FSE: 0HC) (OTCQB: OHCFF), a healthcare technology company focused on developing artificial intelligence ("AI") health diagnostic and wellness solutions, today announced that it has expanded its patent portfolio with the addition of two new European based patents pertaining to the Company's proprietary technology; one European patent validated in the UK and Spain with another utility patent covering 17 European countries. Light AI's proprietary technology platform is an app-based solution and is core to the advancement of patient management, as it requires no swabs, lab tests, or propriety hardware of any kind. The platform's cloud-based architecture enables access from smart devices such as smartphones and tablets commonly available in medical practices. The platform, which is part of a suite of health and diagnostic wellness offerings, is designed to apply assistive AI algorithms to smartphone images, starting with oropharynx images to identify Strep A in seconds. The long-term vision is for the platform to identify a wide range of throat, eye skin and other medical conditions through the Company's AI oriented platform. "Securing these patents marks a pivotal step in our global expansion strategy and helps pave the way for our commercialization launch in Europe," says Peter Whitehead, Chief Executive Officer of Light AI. "As demand for advanced medical technologies and newer solutions continues to rise across European - and global healthcare systems - these patents not only strengthen our IP portfolio, but also position us to deliver innovative solutions at scale in one of the world's most regulated and high-potential markets in future. We are building an IP moat to fortify Light AI's first mover advantage in this space." Light AI's technology has been issued three US patents, three European patent and one Australian patent to date pertaining to the image processing of Streptococcal infection in Pharyngitis Subjects as follows: United States Patent number: 11,369,318 Patent number: 11,602,312 Patent number: 12,148,150 Australia Patent number: 2019357949 European Union Patent number: 3864669 About Light AI Inc. (CBOE CA: ALGO / FSE: 0HC / OTCQB: OHCFF) Light AI Inc. is a technology company focused on developing artificial intelligence health diagnostic solutions. Light AI is developing a technology platform which represents the next generation of patient management: it applies AI algorithms to smartphone images—starting with images of Strep A and anticipated expansion with COVID19 along with other medical conditions —to identify the disease in seconds. Its patented, app-based solution requires no swabs, lab tests or proprietary hardware of any kind—its hardware platform is the 4.5 billion smartphones that exist in the world today. Light AI is at the forefront of developing innovative diagnostic solutions aimed at improving healthcare delivery worldwide. Their cutting-edge AI powered technology offers rapid, accurate, and cost-effective diagnostic tools designed to address critical healthcare challenges. In pre-FDA validation studies, Light AI's algorithm demonstrated remarkable accuracy in differentiating between viral and bacterial pharyngitis, specifically targeting Group A Streptococcus (GAS). The algorithm achieved a 96.57% accuracy rate and attained a Negative Predictive Value of 100%, indicating its high reliability in confirming the absence of Streptococcus A infection. Viral and GAS pharyngitis affects over 600 million people annually worldwide. If left untreated, GAS pharyngitis can lead to serious complications such as Rheumatic Heart Disease (RHD), which imposes a global economic burden exceeding $1 trillion annually. Light AI's technology offers a significant advancement in the accurate and timely diagnosis of GAS pharyngitis, potentially reducing the incidence of RHD and its associated costs. Light AI's approach to applying AI to smartphone images can be expanded to other throat conditions, as well as other areas of analysis, such as the human eye and skin. Light AI's vision is to combine the smartphone with AI in-the-Cloud to create a Digital Clinical Lab that provides quick and accessible diagnosis for countless conditions that today require expensive and time-consuming imaging or lab processes. Light AI's commercial launch of its consumer-facing Wellness App initial offering is anticipated to be available in North America in Q3 2025. ON BEHALF OF THE COMPANY For more information, please contact the Company at [email protected] or visit Forward-Looking Information: This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the Company's research and development and commercialization initiatives, the anticipated inflection of the business, the Company's patent and intellectual property portfolio and other statements that contain words such as "believe," "expect," "project," "should," "seek," "anticipate," "will," "intend," "positioned," "risk," "plan," "may," "estimate" or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release. For a list of the factors that may affect any of the Company's forward-looking statements, please refer to the Company's annual information form dated April 14, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under its SEDAR+ profile at
