Company to License Core Informatics Platform to Companion Healthcare Technologies, Inc.
Ehave, Inc. (OTCQB: EHVVF), a healthcare company dedicated to empowering the mental health community with next-generation digital solutions, today announced plans to expand its business into veterinary medicine. The company has executed a Letter of Intent (LOI) whereby Companion Healthcare Technologies, Inc. (CHT), a company engaged in partnering, licensing and incubating cutting edge healthcare technologies to improve the quality of care for pets, will license Ehave’s core health informatics platform for animal health. In the U.S., 68% of households have pets and the national spend on these companion animals continues to grow exponentially. It is estimated at approximately $70 billion for 2017.
“The veterinary healthcare market continues to undergo explosive growth marked by a drive for new medicines, diagnostics, and technologies that can elevate the quality and access to care for companion animals,” said Prateek Dwivedi, CEO of Ehave. “This expansion into yet another emerging healthcare vertical exemplifies the versatility and utility of our technology and is in line with our efforts to fully leverage the flexibility of our core health informatics platform in areas where there is an opportunity to add immediate value and revenue. As the pace of innovation in animal health continues to accelerate, our platform is ideally designed to support the growth of this exciting industry. Similar to our established applications in mental health and medical cannabis, by licensing our core platform, CHT and its partners in veterinary research and clinical practice will be able to more effectively monitor, utilize, and improve therapeutic outcomes for pets by capturing and analyzing real-time, objective patient data.”
Under the proposed license agreement, CHT will have exclusive rights to Ehave’s informatics platform for use, in any indication, in companion animals. CHT will seek to integrate Ehave’s platform across the entire companion animal clinical pathway and related developments in the acceleration of quality of healthcare; allowing for consistent, consolidated data acquisition and analysis.
Ehave is empowering the mental healthcare community with a next-generation of data-rich tools designed to improve patient management, diagnosis and treatment. With Ehave Connect, Ehave’s mental health informatics platform, clinicians can make objective, data-driven decisions while keeping patients informed and engaged throughout their mental healthcare journey. Ehave Connect offers a powerful set of core features that integrate with a growing selection of tools and applications developed by Ehave and its leading partners, including Multi-Health Systems (“MHS”), a leading publisher of psychological assessments. Ehave is initially focused on improving the standard of care in attention deficit hyperactivity disorder (“ADHD”), through its collaboration with the Hospital for Sick Children (“SickKids”). Ehave Connect is also being utilized to advance the validation and optimization of medical cannabis, through its collaboration with MedReleaf.
Companion Healthcare Technologies, Inc. (“CHT”) is a private company engaged in partnering, licensing and incubating healthcare technologies with direct value to veterinary patients to improve the quality of care of companion animals and to improve treatment outcomes. CHT, along with its partner organizations, work closely with human healthcare companies and institutions to access cutting edge diagnostic and therapeutic products for translation to companion animal care.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading “Risk Factors” in Ehave, Inc.’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC’s website, http://www.sec.gov.