News Release
PainChek leads innovation in AI-based pain assessment
PainChek Ltd
PainChek Ltd (ASX:PCK), a medical device company, is pioneering the use of an app, leveraging artificial intelligence (AI) for pain assessment in vulnerable individuals unable to communicate their pain due to conditions such as dementia, cognitive impairments, or in pre-verbal children. In and interview with Proactive's Stephen Gunnion CEO and managing director Philip Daffas highlighted that PainChek's app is the world's first regulatory-cleared medical device for this purpose. It utilises AI for facial analysis to detect nine micro facial features indicative of pain, assisting carers in aged care and hospitals to document and score the severity of pain. PainChek has achieved a first mover advantage with patents in the US, Europe, Japan, and the UK, protecting its technology until 2038. The company has regulatory clearance in Australia, New Zealand, Canada, the UK, the EU, Singapore, and Malaysia, with ongoing clinical studies in the US aimed at FDA clearance. PainChek reported its fifth consecutive quarter of double-digit growth in the December quarter, with 85,000 licences across 1,400 aged care facilities on three continents. With an annual recurring revenue of around $4 million, the company sees a significant growth opportunity in aged care, home care, and the hospital sector. Key milestones for investors include expansion in regulatory-cleared markets, entry into the US market upon FDA clearance, and the launch of an infant app for pain assessment in the home. Contact Details Proactive Australia Pty Ltd Proactive Australia Pty Ltd +61 431 597 771 writers.australia@proactiveinvestors.com
March 21, 2024 12:07 PM Eastern Daylight Time
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News Release
Trust Stamp unveils white paper on Stable IT2 for enhanced biometric security without data storage
T Stamp Inc
Trust Stamp Inc, through its Chief Commercial Officer Kenny Chan discusses the company's innovative Stable IT 2 technology, designed for enhancing online digital experiences, particularly in fast identity online applications. The technology distinguishes itself by enabling biometric authentication without the need to store any biometric data, thereby enhancing user privacy and security. Unlike traditional systems that require storing a facial template or picture, Stable IT 2 performs authentication while preserving user anonymity. The white paper co-authored by Chan aims to inform the public about the limitations of current biometric systems, which typically rely on device-based authentication or the storage of biometric templates. It highlights the vulnerability of current systems to fraud, such as SIM swap attacks and the interception of one-time passcodes, proposing Stable IT 2 as a more secure alternative. This new technology supports authentication through a combination of a device and a biometric input, without the need to store biometric data. For users, the benefits of integrating Stable IT 2 include enhanced account security through multi-factor authentication, the elimination of the need to store biometric data, surpassing the security offered by passkeys, and portability of authentication across devices. The technology is also a step towards creating digital identity tokens, enabling secure digital wallets that contain personal and financial information protected by multiple layers of authentication. Moving forward, Trust Stamp is seeking partnerships with merchants, financial institutions, and identity wallet partners to implement the Stable IT 2 technology in securing digital assets. Chan's discussion underscores the company's commitment to advancing privacy and security in the digital domain. Contact Details Proactive USA +1 347-449-0879 na-editorial@proactiveinvestors.com
March 21, 2024 12:01 PM Eastern Daylight Time
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Aclara Resources secures up to $80M investment from Chile's CAP for sustainable mining
Aclara Resources Inc
Aclara Resources CEO Ramon Barua joins Proactive's Stephen Gunnion with details of a significant investment deal with Chile's CAP SA, valued at up to $80 million. Barua said the partnership underscores a shared vision for a sustainable future in the extraction of critical minerals. CAP's financial strength and extensive experience in Chilean operations, including environmental impact assessments and mine management, will assist Aclara's growth, he added. The deal not only injects $29 million into Aclara's Chilean operation, REE Uno, but also offers the potential for an additional $50 million investment upon permit approval. This strategic alliance aims to expedite the development of the Penco Rare Earths Project, focusing on the extraction of vital elements like dysprosium and terbium for electric vehicle motors. The collaboration is set to enhance Aclara's market valuation and accelerate the production timeline, with the goal of commencing operations by 2027. Additionally, the partnership includes the formation of a steering committee to oversee the project's progression, highlighting the commitment to advancing the Penco Module's development efficiently. Contact Details Proactive Canada +1 604-688-8158 na-editorial@proactiveinvestors.com
March 21, 2024 11:58 AM Eastern Daylight Time
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Mako Gold confirms manganese mineralisation at Korhogo Project with promising IP survey results
MAKO GOLD LIMITED
Mako Gold Ltd (ASX:MKG) managing director Peter Ledwidge joins Proactive's Stephen Gunnion with promising initial results from an IP geophysics survey conducted on the Ouangolodougou Permit at the Korhogo Project in Côte d'Ivoire. The survey, encompassing 1.4 square kilometres with an additional line extending from it, aimed to test the effectiveness of the IP survey method in identifying manganese mineralisation. The decision for the survey was based on extensive mapping, rock chip sampling, and some drilling already undertaken. The survey successfully identified manganese both at the surface and subsurface, confirming the IP survey as a valid tool for identifying subsurface manganese mineralisation in areas with limited outcrop visibility. This discovery is significant given the large size of the project, spanning an eight-kilometre by four-kilometre area, with plans to extend the IP survey coverage for optimal drilling target identification. Mako Gold's confidence in the project's potential is bolstered by comparisons to the nearby Lauzoua Mine, noting similar mineralisation patterns and the vertical nature of deposits. The company is exploring partnerships to further develop the manganese deposit while maintaining a focus on its flagship Napié Gold Project. Contact Details Jonathan Jackson +61 413 713 744 jonathan@proactiveinvestors.com
March 21, 2024 11:56 AM Eastern Daylight Time
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Tissue Regenix unveils growth strategy and positive EBITDA milestone
Tissue Regenix Group PLC
Tissue Regenix Group PLC (AIM:TRX) CEO Danny Lee and CFO David Cocke discussed the company's 2023 operational and financial performance in an interview with Proactive's Stephen Gunnion. Tissue Regenix is a global leader in regenerative medicine, focusing on tissue-based scaffold technologies derived from both human and animal tissues. These technologies are critical for regenerative therapies, enhancing the body's natural healing processes across various surgical fields, including orthopaedics, sports medicine, general surgery, urogynecology, and ophthalmology. For the first time, the group reported a positive EBITDA, attributed to a 20% increase in sales revenue, reaching £29.5 million. Growth was primarily driven by the BioRinse and DermaPure divisions, with notable success in specialised bone and birth tissue products, particularly the ConCelltrate product for bone formation and the amniotic membrane product for wound care. The company outlined its strategic focus, known as the "four Ss": Supply, Sales, Revenue, Sustainability, and Scale, which form the foundation of its growth strategy. This strategy is further supported by four growth pillars: expanding the base business, enhancing tissue partnerships, evolving regulatory status to become a device company, and expanding market reach globally. Notably, Tissue Regenix has signed new distribution partnerships in Spain, Australia, and China, with plans to enter additional markets based on strategic opportunities. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 21, 2024 11:53 AM Eastern Daylight Time
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Benevolent AI CEO discusses 2023 highlights and 2024 outlook as it pioneers AI in drug discovery
BenevolentAI
BenevolentAI (OTC:BAIVF) CEO Dr Joerg Moeller outlines the company's operational and corporate milestones for 2023, categorising achievements into five key areas: clinic operations, proprietary pipeline progress, platform enhancement, organisational growth, and financial management. Moeller noted that BAI secured a significant deal with Merck KGaA worth up to $594 million for developing three clinical drug candidates in immunology and oncology. Collaborations with AstraZeneca have also advanced, focusing on target selection for diseases such as systemic lupus. Progress was noted in Benevolent AI's proprietary pipeline, especially with a lead asset in ulcerative colitis expected to deliver Phase 1a study data. Additionally, advancements in glioblastoma treatment and ALS research were highlighted. Organisational developments included key executive appointments and an extended financial runway until mid-next year. Moeller underscored the validation of the BAI platform through collaborations with the major pharmaceutical companies, positioning the company as a leader in AI-augmented drug discovery. The imminent release of data for a leading program in ulcerative colitis aims to introduce a new treatment with fewer side effects. For 2024, the company plans to extend its financial runway, forge additional collaborations, and partner on pipeline assets, with expectations for another year of significant achievements. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com
March 21, 2024 11:50 AM Eastern Daylight Time
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NetScientific: Significant Advancement with Strategic Goals
NetScientific PLC
NetScientific PLC (AIM:NSCI) CEO Dr Ilian Iliev discusses the substantial progress made in achieving its strategic objectives for 2023, despite facing challenging market conditions. Iliev told Proactive's Stephen Gunnion the company, a listed deep tech investor, has capitalized on the growing interest in the deep tech sector, including industrial sustainability, AI, and medtech, maintaining the stability and marginal growth of its privately held portfolio's fair value while expanding its businesses and capital under advisory. NetScientific has focused on generating operating income through corporate finance and value creation services, covering significant portions of its operating costs and achieving sustainability without market placements. Significant achievements include the growth of its portfolio companies, such as Vortex, which saw a notable increase in valuation. The company now manages 23 portfolio companies, with a diversified fair value composition, reducing the impact of fluctuations in individual companies like PDS Biotechnology on its share price. NetScientific has also made strategic advancements in companies like ProAxsis and Glycotest, transitioning them from subsidiary to portfolio status and focusing on third-party investment for growth. Looking ahead, Iliev said NetScientific aims to further its fund management strategy, having achieved FCA authorisation, which will enhance its capacity to invest and manage funds, contributing to the company's financial sustainability and growth potential. The company anticipates continuing its growth strategy in 2024, focusing on increasing the value of its stakes in portfolio companies, scaling its strategy through fund management, facilitating effective exits, and strengthening its team for sustainable long-term success. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 21, 2024 11:48 AM Eastern Daylight Time
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MP Evans reports significant growth and sustainable advances in 2023
MP Evans Group PLC
MP Evans Group PLC (AIM:MPE) CEO Matthew Coulson discusses the company's 2023 achievements and future outlook in an interview with Proactive's Stephen Gunnion. In 2023, MP Evans notably increased its planted area by over 10,000 hectares and inaugurated its sixth mill at the Musi Rawas plantation, enhancing production capabilities significantly. It surpassed its initial planting target at Musi Rawas, reaching 10,300 hectares, with aspirations to expand to 11,000 hectares in 2024. MP Evans also opened its sixth mill, contributing to a more than 22% increase in production from its own mills with 95% of the company's crop now processed in-house. Despite reduced crude palm oil prices affecting revenue, Coulson noted that MP Evans maintained strong cash generation, leading to an increase in dividends and the extension of a share buyback programme. The strategic priorities remain focused on responsibility, excellence, growth, and yield. Early 2024 saw stable, if not slightly stronger, palm oil prices, with early March prices reaching over $800 per tonne. Coulson said MP Evans continues to seek sustainable development opportunities and aims to further increase planted acreage, focusing on delivering sustainable crop production and enhanced shareholder returns. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 21, 2024 11:46 AM Eastern Daylight Time
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Coinsilium CEO Eddy Travia discusses Byzant and the future of Web3 social media
Coinsilium Group Ltd
Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF) Eddy Travia provides an update on Byzance, a Web3 social network ecosystem project, in an interview with Proactive's Stephen Gunnion. Travia explained that Web3 represents the next stage of the internet, aiming to decentralise social media, offering users control over their content and private data, differing from the centralised nature of current Web2 platforms. Byzant focuses on enhancing user control and monetisation methods for content creators. Travia said Coinsilium is collaboratively actively with portfolio company Indorse, a blockchain technology studio, and A-ADS, a pioneering crypto advertising network, to address the challenges of Web2 and transition to Web3. The project includes Adbazaar, a platform concentrating on smart contract-powered advertising, enabling more user benefits. Adbazaar aims to facilitate on-chain targeting, an innovative approach in advertising that utilises publicly visible wallet assets to tailor advertisements. This collaboration extends to Singapore-based company, Linkko, highlighting Byzant as an ecosystem comprising various applications to support Web3 companies. Advertising, pivotal in Web2's social media industry, is seen as underdeveloped in Web3, with platforms like Adbazaar positioned to pioneer this sector. Travia also touched on the progression of Byzant, mentioning that several applications are in development or test mode, with a focus on Adbazaar as the next significant phase. Contact Details Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com
March 21, 2024 11:44 AM Eastern Daylight Time
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