CardioComm Solutions Awarded Canadian Space Agency Contract for Design of Next Generation Connected Care Medical Module Prototype

Rhea-AI Summary

CardioComm Solutions (TSXV: EKG) has been awarded up to $150,000 in funding from the Canadian Space Agency (CSA) to design a prototype for the next generation Connected Care Medical Module (C2M2). The company's GEMS™ C2M2 will be an AI-supported system designed for medical care in isolated environments, both in space and on Earth.

Key components of GEMS™ C2M2 include:

• AI-supported computer system for integrating medical technologies
• Plug-and-play architecture for flexible configurations
• Autonomous healthcare management capabilities
• Detection, diagnosis, treatment, and monitoring functionalities

The prototype design is due on October 28, 2024. If selected, CardioComm could receive up to $650,000 for further development of the C2M2 solution.

Positive

• Awarded up to $150,000 in funding from the Canadian Space Agency
• Potential for additional $650,000 funding for prototype development
• Expansion into broader range of near real-time Remote Patient Monitoring
• Development of AI-supported system for autonomous medical care in isolated environments

Negative

• None.

GEMS(TM) C2M2 will Detect, Diagnose, Treat and Monitor Health Conditions for Use in Space Missions and in Remote Communities on Earth.

Toronto, Ontario--(Newsfile Corp. - October 16, 2024) - CardioComm Solutions, Inc. (TSXV: EKG) ("CardioComm" or the "Company"), a global medical provider and pioneer of Remote Patient Monitoring (RPM) solutions for direct-to-consumer heart monitoring and prescribed ambulatory electrocardiogram ("ECG") software and hardware solutions, is pleased to announce it has been awarded, through a competitive process, up to $150,000 in funding from the Canadian Space Agency (CSA) for design of the next generation prototype for the CSA's Connected Care Medical Module (C2M2)¹.

The CSA C2M2 is a highly innovative, AI-supported system designed to address the unique challenges of medical care in isolated environments, whether in space or on Earth. This dual use, both in space and for terrestrial applications, makes the C2M2 a critical development for improving healthcare accessibility and reliability in environments where traditional medical care is hard to access.

The CardioComm prototype, GEMS™ C2M2, will build on CardioComm's experience in the development of innovative and device-agnostic RPM software platforms for cardiac medical monitoring. The Company recently expanded its cardiac RPM technologies through its innovative Body-by-GEMS™ program, which provides for a device-agnostic solution for monitoring of multiple bio-signals including ECG, temperature, SpO2, blood pressure and heart rate. The CSA C2M2 funding will facilitate the Company's expansion into a broader range of near real-time RPM of multiple bio-signals including development of protocols for autonomous differential diagnosis, treatment and follow-up monitoring of patients where limited access to medical services exists.

The key components CardioComm will develop in their design (GEMS™ C2M2) are:

Artificial Intelligence (AI) Supported Computer System:

• Facilitates incorporation and interconnection of medical technologies: GEMS™ C2M2 will be device-agnostic and will integrate a wide array of medical devices and technologies, ensuring seamless communication between them, through standardized protocols.
• Plug-and-play architecture: GEMS™ C2M2 will allow for flexible configurations of medical technologies, enabling customization based on the needs of the user, the environment, or mission. This would be critical in rapidly changing or evolving medical situations in space.

Autonomy in Healthcare:

• End-user capacity for autonomous management: GEMS™ C2M2 will be designed to empower non-medical personnel, such as astronauts, to handle various health conditions independently. This would include everything from monitoring vital signs, diagnosing potential issues, to initiating treatment or providing recommendations for health management.
• Detection, diagnosis, treatment, and monitoring: The GEMS™ C2M2 AI will assist in each of these stages, offering decision support, and where appropriate, automating the medical process, reducing the need for human intervention.

Space Exploration:

• Self-reliance for long-duration space missions: For Moon or Mars missions, where immediate access to medical professionals is impossible, astronauts will rely on the selected CSA system to manage both acute and long-term health conditions. The system's ability to work autonomously is a crucial requirement for mission success and crew safety.

Application for Remote Communities:

• Serving Canadians in remote areas: While designed for space, the GEMS™ C2M2's application will be developed to improve healthcare for people living in isolated regions of Canada where access to healthcare is limited. The GEMS™ C2M2 AI-supported system will be developed to provide a similar level of autonomy and health management support, reducing the burden on healthcare infrastructure and improving patient outcomes.

Funding will be provided following presentation of the prototype design, which is scheduled for October 28, 2024. The CSA will select up to three companies funded for this design phase to proceed with funding of up to $650,000 for the development of a prototype C2M2 solution. The focus of the prototypes will be integrating medical software and technologies as a path for their potential deployment in space.

To learn more about CardioComm's products and for further updates please visit the Company's websites at www.cardiocommsolutions.com.

About CardioComm Solutions

Toronto-based CardioComm Solutions' ("CardioComm" and the "Company") proprietary technologies are used remote patient monitoring (RPM). CardioComm's core products are used for remote recording, viewing, analyzing, reporting and storing of electrocardiograms for diagnosis and management of cardiac patients. CardioComm also became the first company to enter into the direct to consumer, personalized ECG monitoring market. With its suite of medically credible heart monitoring solutions for the medical and consumer markets, CardioComm continues to be a leader in ECG management technologies. CardioComm will be expanding use of its RPM and telemedicine technologies into the sports, health and wellness. Such efforts will facilitate the introduction of new wearable devices such as Smartwatches, chest straps, smart garments and patches that will collect additional monitored bio-signs and multiple ECG leads/channels options (1, 3 and 12 lead). Additionally, CardioComm will expand its HeartCheck™ branded direct to consumer solutions to include other bio-sign monitoring devices compatible with CardioComm's technologies. The Company's goal is to provide patients and caregivers with opportunities to consult and collaborate with specialists no matter the location, improving patient care and reducing costs. CardioComm has earned the ISO 13485 MDSAP and ISO 27001 certifications, is HIPAA compliant and holds medical device clearances and sales licenses from the USA (FDA) and Canada (Health Canada).

FOR FURTHER INFORMATION PLEASE CONTACT:
Etienne Grima, Chief Executive Officer
1-877-977-9425 x227
investor.relations@cardiocommsolutions.com

Forward-looking statements

This release may contain certain forward-looking statements and forward-looking information with respect to the financial condition, results of operations and business of CardioComm Solutions and certain of the plans and objectives of CardioComm Solutions with respect to these items. Such statements and information reflect management's current beliefs and are based on information currently available to management. By their nature, forward-looking statements and forward-looking information involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements and forward-looking information.

In evaluating these statements, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not assume any obligation to update the forward-looking statements and forward-looking information contained in this release other than as required by applicable laws, including without limitation, Section 5.8(2) of National Instrument 51-102 (Continuous Disclosure Obligations).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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¹ https://www.asc-csa.gc.ca/eng/news/articles/2024/2024-10-11-six-hundred-thousand-dollars-awarded-to-canadian-companies-advance-remote-healthcare-technologies.asp

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226828

FAQ

What is the purpose of CardioComm's GEMS™ C2M2 prototype?

GEMS™ C2M2 is designed to detect, diagnose, treat, and monitor health conditions in isolated environments, both in space missions and remote communities on Earth.

How much funding did CardioComm (TSXV: EKG) receive from the Canadian Space Agency?

CardioComm was awarded up to $150,000 in funding from the Canadian Space Agency for the design of the GEMS™ C2M2 prototype.

When is the prototype design for GEMS™ C2M2 due?

The prototype design for GEMS™ C2M2 is scheduled to be presented on October 28, 2024.

What are the key components of CardioComm's GEMS™ C2M2 design?

The key components include an AI-supported computer system, plug-and-play architecture, autonomous healthcare management capabilities, and functionalities for detection, diagnosis, treatment, and monitoring of health conditions.