The DNA Company Acquires AI Digital Therapeutics App to Form My Next Health
My Next Health Announces Genomics-Based Applications for Pain and COVID-19 Complications Risk Assessment
Acquisition combines functional genomics with conversational AI for patient self-management apps and disease tracking tools designed to inform clinician-patient interactions.
TORONTO, May 13, 2020 /CNW/ - Leading functional genomics provider The DNA Company today announced that it has acquired AI-based digital therapeutics app My Pain Sensei (MPS) for approximately $30 million USD, forming My Next Health. The DNA Company has long specialized in understanding how genes and genetic pathways influence health and wellness, and the acquisition of MPS gives My Next Health an AI-based platform to develop multiple health applications.
As My Next Health, the company will focus on using precision medicine and digital therapeutics to develop genomics-based health management applications that offer patients genetic insights tailored to their unique biology. The acquisition also provides My Next Health with a Class 1 Medical Device Establishment License from Health Canada for applications related to chronic pain and COVID-19.
My Next Health's MPS platform, which combines big data and genomic insights with conversational AI and tracking tools, was developed by MPS through an engagement with IBM and includes access to more than 60 million electronic medical records and data from 32 billion claims.
This data allows the platform to uncover key insights about identifiable symptoms, diagnoses, chronic pain treatment efficacy as well as for other chronic conditions. The My Next Health applications make those insights, tools and interventions accessible to patients and their healthcare providers. As its first application, My Next Health is creating a COVID-19 application that assesses an individual's risk profile for developing complications from the virus.
"The COVID-19 pandemic has revealed how a novel virus can upend the world's healthcare system at a moment's notice," said Kashif Khan, CEO of My Next Health. "But, advances in functional genomics may allow us to better understand the underlying biological weaknesses that this novel virus exploits so that we can leverage existing treatment protocols to improve patient outcomes and reduce load on the healthcare system. The acquisition of MPS will help us tackle these and other problems."
The My Next Health COVID-19 application will work by analyzing a person's genetic pathways for inflammatory responses, insulin sensitivity and other genomic indicators through identifiable characteristics that factor into risk of COVID-19 complications. After determining an individual's risk level, patients can use the application's recommendations to help mitigate their risk using self-tracking tools that also can be shared with their healthcare providers.
My Next Health will continue building in new functionality over the next few months, with a fully functional application targeted for health systems or governments available this summer.
Given the immediate public need created by the COVID-19 pandemic, My Next Health is making a free online version of the application available to the public on May 15, which will include the conversational AI and intervention recommendations. The public version will be available at www.mynexthealth.com.
About My Next Health (formerly The DNA Company)
My Next Health builds health applications that provide insights into the prevention and treatment of chronic diseases using a novel approach to functional genomics. These applications allow consumers to self-manage those insights based on their own genetic predispositions, and can help inform their healthcare providers on interventions. My Next Health was created when functional genomics company The DNA Company joined with digital therapeutics platform My Pain Sensei in May 2020. For more information, visit www.mynexthealth.com.
About The DNA Company
The DNA Company is a functional genomics company that provides evidence-based therapies based on genomic insights that identify how genes and genetic pathways influence health and wellness.
This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of the Company. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "plan", "will", "may", "estimate" and other similar expressions. The forward-looking statements in this news release are based on certain assumptions. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation, the ability of the Company to commercialize, and to successfully integrate, the MPS platform into its products and services and the availability of growth financing to support the Company's business objectives. There can be no assurance that forward-looking statements will prove to be accurate, as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE The DNA Company