EvokAI Creative Labs Receives CE Mark Approval for Its MDM Flex Sensor to Transform the Management of Parkinson's Disease

Rhea-AI Summary

EvokAI Creative Labs Inc. has announced that its 'MDM Flex Sensor' has received the CE Mark approval, a significant milestone for the healthcare sector. The integration of this micro sensor into the EvokAI Movement Disorder Monitor is expected to revolutionize patient care and improve their quality of life. The company aims to expand its market reach in Europe and the US market, with the potential to reduce the economic burden of movement disorders.

Positive

• The CE Mark approval enhances EvokAI's credibility and builds trust with customers, healthcare professionals, and regulatory authorities.
• Access to the European Economic Area market is expected to lead to increased sales and revenue for EvokAI.
• The MDM Flex Sensor offers a comprehensive and precise assessment of movement disorders, enabling healthcare professionals to monitor patients' progress accurately.
• Physicians can create personalized treatment plans based on real-time data on patients' responses to medication, maximizing effectiveness.
• Patients can experience an enhanced quality of life as their treatments become more tailored to their specific needs, minimizing side effects and optimizing symptom control.

Negative

• None.

VANCOUVER, BC / ACCESSWORE / October 30, 2023 / EvokAI Creative Labs Inc. (TSXV:OKAI)(OTCQB:OKAIF) ("EvokAI" or the "Company"), a leading MedTech AI-powered company dedicated to the development of transformational and innovative technologies for the healthcare sector, is pleased to announce that its latest technology "MDM Flex Sensor" has received the CE Mark approval, a significant milestone that paves the way for further advancements in the field of movement disorder monitoring. The integration of this state-of-the-art micro sensor into the EvokAI Movement Disorder Monitor ("MDM") is poised to revolutionize patient care and significantly improve their quality of life.

"Securing the CE mark allows us to expand our market reach in Europe while we prepare to bring the technology to the U.S. market. The study "The Economic Burden of Parkinson's Disease" estimated that the total cost of Parkinson's disease to individuals, families, and the U.S. government is $51.9 billion annually. Our technology has the potential to transform the way movement disorders are diagnosed, monitored, and treated. By harnessing the power of artificial intelligence and advanced sensor fusion, the MDM Flex Sensor can provide insights into movement disorders that were previously unattainable, considerably reducing this economic burden," said Alejandro Antalich, CEO of EvokAI Creative Labs.

Key Features of this major achievement:

• CE mark approval is a rigorous process that demonstrates the product's compliance with European Union health and safety standards. This certification enhances EvokAI's credibility and builds trust with customers, healthcare professionals, and regulatory authorities.
• With access to the European Economic Area ("EEA") market and enhanced credibility, EvokAI expects increased sales and revenue. Healthcare providers and institutions purchase and implement technology that meets regulatory standards.
• MDM Flex Sensor offers a comprehensive and precise assessment of movement disorders, enabling healthcare professionals to monitor patients' progress with unparalleled accuracy.
• With real-time data on patients' responses to medication, physicians can create personalized treatment plans that maximize the effectiveness of their interventions.
• Patients can experience enhanced quality of life as their treatments become more tailored to their specific needs, minimizing side effects and optimizing symptom control.

About EvokAI Creative Labs Inc.

EvokAI is a MedTech AI-powered company dedicated to the development of transformational and innovative technologies for the modern healthcare sector. We deploy machine learning models to search medical data and uncover insights to help improve health outcomes, patient experiences, drug development, preclinical and clinical decisions and provide more accurate diagnoses. EvokAI tailors its AI algorithms across the whole healthcare system, from hospitals, private clinics, research institutions, pharmaceutical companies, contract research organizations, to medical professionals, patients, healthy individuals aiming at preventing any kind of disease and beyond, protecting the aging genome.

On behalf of the Board of Directors of EvokAI Creative Labs Inc.

Alejandro Antalich
CEO & Director

For more information, please contact:

EvokAI Creative Labs Inc.
Alejandro Antalich
Chief Executive Officer
Email: hello@evokailabs.com
Phone: +358 50 5512 848

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.

This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Generally, any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information or statements.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; the Company's limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the technology industry; unproven markets for the Company's product offerings; lack of regulation and customer protection; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; network security risks; the ability of the Company to maintain properly working systems; foreign currency trading risks; use and storage of personal information and compliance with privacy laws; use of the Company's services for improper or illegal purposes; global economic and financial market conditions; uninsurable risks; changes in project parameters as plans continue to be evaluated; and those factors described under the heading "Risks Factors" in the Company's filing statement dated March 27, 2023 available on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

SOURCE: EvokAI Creative Labs Inc.

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FAQ

What is the latest technology announced by EvokAI Creative Labs Inc.?

The latest technology announced by EvokAI Creative Labs Inc. is the 'MDM Flex Sensor'.

What is the significance of the CE Mark approval?

The CE Mark approval demonstrates compliance with European Union health and safety standards, enhancing credibility and building trust.

What are the benefits of the MDM Flex Sensor?

The MDM Flex Sensor offers a comprehensive and precise assessment of movement disorders, enabling accurate monitoring of patients' progress.

How can physicians benefit from the technology?

Physicians can create personalized treatment plans based on real-time data on patients' responses to medication, maximizing effectiveness.

How can patients benefit from the technology?

Patients can experience an enhanced quality of life as their treatments become more tailored to their specific needs, minimizing side effects and optimizing symptom control.