Grey Matters Health (CSE:GREY, OTCQB:AGNPD, FRA:AGW0) earlier this week highlighted progress towards opening its first US brain-scanning clinic, with CEO Christopher Moreau pointing to a newly secured Florida radioactive materials licence and an agreement with ProScan Reading Services as important steps towards launch.
Moreau told Proactive that Grey Matters Health (CSE:GREY, OTCQB:AGNPD) is introducing a dedicated positron emission tomography (PET) brain scanner into the US market, with its first clinic planned for Davie, Florida.
He said the scanner uses 25% less radiation than typical PET CT scanners and is designed to improve the patient experience by allowing patients to sit upright while the scanner comes to them.
Moreau said the company intends to use the technology to scan for Alzheimer’s disease, including beta amyloid plaque, as well as MS, select cancers, Parkinson’s and other neurodegenerative diseases.
The agreement with ProScan Reading Services provides Grey Matters Health with specialist radiology expertise without requiring a radiologist to be based at each clinic.
Moreau explained that an individual scan produces around 1,000 brain images, which will be processed through the company's software and sent to ProScan. Its neuroimaging specialists will read the scans before reports are returned to Grey Matters Health, referring physicians and patients.
He said the outsourcing model was more cost effective than placing a radiologist in every clinic and highlighted ProScan's expertise in areas including beta amyloid imaging and Centiloid scoring.
“We’re really glad that we’re partnering with them,” Moreau said.
Another potential catalyst is the planned opening of the Davie facility following receipt of Grey Matters Health's radioactive materials licence in Florida.
Moreau explained that the licence is required because the PET scanning process involves injecting isotopes into patients. The facility therefore had to meet requirements covering the receipt, administration and management of those materials.
With the licence now secured, Moreau indicated that preparations for opening are well advanced.
“So there’s nothing really major left,” he said. “We announced that we would be open on or before September 30, and that’s the goal.”
The opening of the Davie clinic therefore represents the company's key near-term milestone, while Grey Matters Health's stated ambition to establish centres across the US could provide further developments as the rollout progresses.