IRW-PRESS: Cognetivity Neurosciences Ltd .: Cognectivity Neurosciences receives major patent approval in China for its own cognitive assessment platform
– The total number of people with dementia in China is expected to increase to 14.1 million by 2020 and to 23.3 million by 2030.
– The annual cost of dementia is estimated to reach $ 69 billion by 2020 and $ 114 billion by 2030.
Vancouver, British Columbia, August 13, 2019 – Cognetivity Neurosciences Ltd. (company or cognitive) (CSE: CGNF) announced today that the company has received official approval from the State Intellectual Property Office of China for its patent on its unique human mental health assessment system. The patent covers a number of important elements of the cognitive platform for cognitive assessment, including the nature and duration of the images presented, recorded responses, the methods of analysis used, and the system used to detect dementia or Alzheimer's disease.
China is an important future market for cognitive technology because more people in China suffer from dementia than any other country in the world, including the United States. According to a recent World Health Organization report on China's economic burden of dementia, it is estimated that the number will fall to 14.1 million by 2020 and cost $ 69 billion annually. As the population ages and the overall prevalence of dementia rises in people over 60, dementia in China, as in other countries in the world, is becoming a rapidly growing problem with dramatic increases in costs.
Early detection of dementia is a key component in overcoming this growing global problem. The latest Alzheimers Research estimates that the cost of early detection of the disease – made possible by the Cognetivity platform – is only $ 7.9 trillion in the US alone.
We are extremely excited about this latest important addition to our IP portfolio, noted Dr. Sina Habibi, Cognitive Director. China, like many other countries, has a significant and rapidly growing problem of dementia. For the most effective management of pain in individual patients, and ultimately for the development of long-lasting drugs, the diagnosis must be made at a very early stage, and it is at this point that our ICA (Integrated Cognitive Assessment) offers significant benefits to governments and health , as well as many millions of patients worldwide.
With the ICA test, users' cognitive abilities can be measured in a unique, accurate and sensitive way using a short, simple test using a smartphone or tablet. In order to reach international markets, it is important that the test, unlike other cognitive tests, cannot be used regardless of the culture, language or educational level of the user; It is an important tool that helps diagnose diseases such as dementia in a large population worldwide.
About Cognetivity Neurosciences Ltd.
Cognitive is a technology company developing a cognitive research platform for Integrated Cognitive Assessment (ICA) methodology for use in medical, commercial and consumer applications. The ICA platform, designed by Cognetivity, is based on artificial intelligence and machine learning methods used to identify the first signs of a deficiency for early detection of dementia by conducting a test of work in large areas of the brain. The goal of cognition is to further develop the ICA platform with planned clinical trials and market it in North America, Europe and other countries in the world.
Visit www.cognetivity.com for more information.
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