EvokAI acquires spinoff from the University of Basel

Advancience is a Basel-based data science company that develops and applies highly scalable game-based software solutions for the digital measurement of human behavior, intellectual capacity and cognitive functioning. Its online-based toolkit enables advances in medical diagnostics in the field of psychiatry and neurology by incorporating objective measures of mental functioning. The solution also allows efficient diagnostics and outpatient monitoring for ADHD and, at a later stage, early detection of changes in mental health, such as detection of cognitive decline in preclinical Alzheimer's disease.

Alejandro Antalich, Co-Founder of EvokAI commented, "We are very excited about the acquisition of Advancience, it positions us a step closer of bridging the gap between neuroscience and artificial intelligence, enabling the interaction human-machine to predict, diagnose, treat, recover and adapt to different circumstances caused by neurological diseases. Moving forward with EvokAI's expansion plan, this acquisition will allow us to tackle one of the most severe neurodegenerative diseases, Alzheimer's, which is becoming more common as the general population gets older and lives longer. Changes in the brain begin years before a person shows any signs of the disease and it can last for years. Improved psychodiagnostics will lead to more effective and personalized treatment strategies that far exceed current options."

"EvokAI's expertise in AI and machine learning based algorithms, intellectual property, preclinical and clinical trials, coupled to Advancience's novel toolset for accurately tracking mental fitness via repeated, continuous and autonomous measurements that can take place in patients' homes, will allow patients to remain independent for longer, thus relieving the burden on health systems through massive cost reductions. As we prepare for our next wave of growth, we intend to go beyond neurodegenerative diseases, targeting Attention Deficit Hyperactivity Disorder (ADHD), as one of the most common conditions in childhood associated with severe emotional distress and social impairment," concluded Alejandro Antalich.

EvokAI deploys machine learning models to search medical data and uncover insights. The company tailors its AI algorithms across the whole healthcare system, from hospitals, private clinics, research institutions, pharmaceutical companies, contract research organizations, to medical professionals, patients and healthy individuals.

EvokAI is among the portfolio companies of Evok Ventures, a new venture capital firm with over $400 million under management and presence in the Basel area. Alejandro Antalich, CEO and Chairman of the Board of Evok Ventures is cofounder and Chairman of the Board of EvokAI. He is the former Chief Executive Officer of the Canadian Company ICC Labs Inc. (TSXV), the first publicly traded company in the world to sell cannabis to a federal government, bridging the gap between the stigma behind certain controlled substances and regulators. He led ICC Labs to its successful sale to Aurora Cannabis (TSX) in November 2018.

(Press release / SK)