KetamineOne Capital Limited (LSE:CAPD, FRA:C8D) announced a new agreement that will see it deploy Cognetivity Neurosciences Ltd (CSE:CGN, OTCQB:CGNSF, FRA:1UB)’s Integrated Cognitive Assessment tool in Ketamine One (NEO:MEDI.AQN) clinics across North America.
The two companies also agreed to collaborate on mental health assessments and plan on undergoing clinical trials at Ketamine One clinics, according to a release.
Cognetivity’s tool is a cognitive testing platform that offers a five-minute, computerized assessment that is suited to long-term mental health monitoring because, unlike traditional pen-and-paper cognitive tests, it exhibits no learning effect upon repeat testing.
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As Ketamine One noted, assessing a person’s cognition over the course of their treatment will enable medical professionals to assess how well treatment is working, while empowering patients to take charge of their wellbeing and providing clinicians with additional data to refine treatment and improve outcomes.
“The ICA technology will help Ketamine One improve and standardize both the initial assessment and the ongoing monitoring of patients with features not available in traditional paper-based surveys,” said Adam Deffett, interim CEO of Ketamine One, in a statement.
“This tool will enable us to further demonstrate the power of our therapies and study patient development with an unwavering commitment to improve outcomes by putting more insightful data into the hands of our patients and clinicians. We are passionate about innovating in the pursuit of better mental health for our patients, and the ICA’s unique, AI-powered approach to measuring cognition matches our ethos perfectly.”
Both Ketamine One and Cognetivity will work together to develop next-generation mental health assessment tools under the letter of intent.
The agreement marks the first time that Cognetivity’s ICA tool will be used in clinical care in North America, according to the company’s CEO Dr Sina Habibi.
“This is a key step in our plans for commercial rollout across the US and Canadian healthcare markets and indeed throughout the world. It is also fantastic to see the ICA making its mark in another area of medicine beyond its core use case of enhancing dementia detection and diagnosis,” Habibi told investors.
Vancouver-based Ketamine One is aiming to become a leader in mental health treatments in North America. It currently has 16 clinics across Canada and the US and a contract research division called KGK Science Inc.
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