Avant Technologies' Joint Venture Partner Presents AI Technology at Roche Ophthalmology Conference
Rhea-AI Summary
Avant Technologies (OTCQB: AVAI) announced that Vinicio Vargas, CEO of their joint venture partner Ainnova Tech, presented at Roche's Latin America "Macular Spectacular" Ophthalmology conference in Colombia. The conference focused on scientific advances in treating common eye diseases and fostering regional collaboration.
Notably, Ainnova formed a strategic alliance with Roche and Salud 360 in Q4 2024 to launch a pilot program using their AI-powered Vision AI technology to combat diabetic retinopathy. If successful, the program could expand to the United States, Canada, and Europe through Ai-nova Acquisition Corp. (AAC), which holds worldwide licensing rights for Ainnova's technology portfolio.
Positive
- Strategic alliance with major players Roche and Salud 360 for Vision AI pilot program
- Potential expansion opportunities into US, Canada, and Europe markets
- Worldwide licensing rights secured for Ainnova's technology portfolio through AAC
Negative
- Success of pilot program not yet proven
- Limited current geographical presence (only Latin America)
News Market Reaction
On the day this news was published, AVAI declined 3.87%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
The conference highlighted the latest in scientific advances in treatments for the most common eye diseases, including age-related macular degeneration, diabetic macular edema, and diabetic retinopathy, while also focusing on strengthening collaboration between industry specialists in
Ainnova's CEO, Vinicio Vargas, who is also a member of the Board of Directors of Ai-nova Acquisition Corp. (AAC), the company formed by the partnership between Avant and Ainnova to advance and commercialize Ainnova's technology portfolio, discussed the status of AI and its uses in the industry to improve patient outcomes. Vargas and a host of renowned speakers that included Dr. Laura Velásquez, Dr. Roberto Gallego, Hugo Ocampo, and other ophthalmologists and experts presented the latest tools to transform visual health in the region, reflected on unmet needs, and explained how innovation can help build stronger, accessible, and patient-centered health systems.
In Q4 2024, Ainnova entered a strategic alliance with global biotech, Roche, and leading prepaid health plan provider, Salud 360, to start a pilot program to combat diabetic retinopathy using Ainnova's AI-powered, cutting-edge technology, Vision AI. The alliance aims at improving access to vision screening in patients with uncontrolled diabetes with the hope of decreasing the risks of diabetic retinopathy.
If the program is successful, Avant and Ainnova hope to implement a similar program in
About Ainnova Tech, Inc.
Ainnova is a
About Avant Technologies Inc.
Avant Technologies Inc. is an emerging technology company developing solutions in healthcare using artificial intelligence and biotechnologies. With a focus on pushing the boundaries of what is possible in AI and biotechnology, Avant serves a diverse range of industries, driving progress and efficiency through state-of-the-art technology.
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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.
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