LAS VEGAS, NV -- November 12, 2024
-- InvestorsHub NewsWire -- Avant Technologies, Inc. (OTCQB:
AVAI) ("Avant" or the "Company"), and Ainnova Tech, Inc.,
(Ainnova) a leading healthcare technology (healthtech) company
focused on revolutionizing early disease detection using artificial
intelligence (AI), today announced the companies have entered into
a joint venture and licensing agreement with the formation of
Ai-nova Acquisition Corp (AAC). The partnership was formed to
advance and commercialize Ainnova’s technology portfolio, including
its "VisionAI" platform and its "Versatile Retinal
Cameras."
Ainnova will contribute to AAC its
proprietary technology portfolio, including VisionAI and its
retinal camera technology, and the licensing rights for AAC to
develop, maintain, and commercialize the technology portfolio in
both North America (United States and Canada) and Europe, while
Avant will be responsible for the capital requirements to operate
AAC.
VisionAI 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 and potentially even Alzheimer’s with high
accuracy and speed using retinal scans. Meanwhile, Ainnova’s
next-generation versatile retinal cameras are seamlessly integrated
with VisionAI for precise retinal scans. Along with the VisionAI
software, Ainnova’s retinal cameras, offer AAC SaaS + retinal
camera commercialization opportunities with opticians and eye care
centers in two extremely profitable markets, North America and
Europe.
Ainnova and Avant’s partnership
seeks to make retinal scanning a new standard in primary care and
basic health services by diagnosing a host of diseases early
through a simple visual test that AAC can offer as a scalable and
accessible solution.
Vinicio Vargas, Chief Executive
Officer of Ainnova, commenting on the partnership said, “This joint
venture aligns perfectly with our long-term goals, and as we work
together to push the boundaries of what’s possible in the
healthtech sector, we look forward to setting new standards and
bringing transformative solutions to patients around the world in
an accessible way.”
With over 500 million people living
with diabetes globally, VisionAI is designed to detect the early
markers of diseases like diabetic retinopathy, which is the leading
cause of blindness among working age adults. Over 30% of those
living with diabetes will develop diabetic retinopathy, a disease
that can be prevented with an accurate diagnosis.
Unfortunately, there aren’t enough
ophthalmologists globally. And 95% of cases of blindness due to
diabetic retinopathy can easily be prevented with an early and
accurate diagnosis. Using advanced algorithms to analyze retinal
images with precision, reliability, and speed, VisionAI can bridge
the gap between too few ophthalmologists and tens of thousands of
people who need to get tested.
According to Ainnova, the
diagnostic error rate in diabetic retinopathy is about 49% and this
is where VisionAI offers a positive impact for patients. VisionAI
is a powerful tool to support the physician and give their patients
accurate information that can improve their lives.
This partnership makes sense for
Avant and its shareholders given the AI in healthcare market is
projected to grow from $6.9 billion just 3 years ago to $67.4
billion by 2027, at a CAGR of 46.2% during the forecast period.
Ainnova currently has commercial agreements with Pharma companies,
clinics, insurance companies, and medical service companies. These
relationships should offer AAC guidance into the North American and
European markets.
About Ainnova Tech,
Inc.
Ainnova is a Nevada-based
healthtech startup with headquarters in San Jose, Costa Rica, and
Houston, Texas. Founded by an experienced and innovative team that
is dedicated to leveraging artificial intelligence for early
disease detection. Recognized with multiple global awards and
renowned partnerships with hospitals and medical device companies,
we proudly introduce VisionAI - our cutting-edge platform designed
to prevent blindness and detect the early onset of diabetes.
Explore how Ainnova is revolutionizing healthcare through advanced
technology and proactive solutions.
About Avant Technologies,
Inc.
Avant Technologies, Inc. is an
emerging technology company developing solutions in artificial
intelligence in healthcare. With a focus on pushing the boundaries
of what is possible in AI and machine learning, Avant serves a
diverse range of industries, driving progress and efficiency
through state-of-the-art technology.
More information about Avant can be
found at https://avanttechnologies.com
You can also follow us on social
media at:
https://twitter.com/AvantTechAI
https://www.linkedin.com/company/avant-technologies-ai
https://www.facebook.com/AvantTechAI
https://www.youtube.com/@AvantTechAI
Forward-Looking
Statements
Certain statements contained in
this press release may constitute “forward-looking
statements.” Forward-looking statements provide current
expectations of future events based on certain assumptions and
include any statement that does not directly relate to any
historical or current fact. Actual results may differ
materially from those indicated by such forward-looking statements
because of various important factors as disclosed in our filings
with the Securities and Exchange Commission located at their
website (http://www.sec.gov). In
addition to these factors, actual future performance, outcomes, and
results may differ materially because of more general factors
including (without limitation) general industry and market
conditions and growth rates, economic conditions, governmental and
public policy changes, the Company’s ability to raise capital on
acceptable terms, if at all, the Company’s successful development
of its products and the integration into its existing products and
the commercial acceptance of the Company’s products. The
forward-looking statements included in this press release represent
the Company's views as of the date of this press release and these
views could change. However, while the Company may elect
to update these forward-looking statements at some point in the
future, the Company specifically disclaims any obligation to do
so. These forward-looking statements should not be
relied upon as representing the Company's views as of any date
after the date of the press release.
Contact:
Avant Technologies, Inc.
info@avanttechnologies.com
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