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Data Projects the Global Biotechnology Market Will Continue to Grow

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FinancialBuzz.com News Commentary

According to Grand View Research, the global biotechnology market is expected to reach USD 727.1 billion by 2025. The emergence of certain key factors in the biotechnology market is expected to drive the strong growth. These key factors include regenerative medicine and genetics in diagnostics, various developments in cancer therapeutics, as well as advances made in the treatment of common diseases such as Multiple Sclerosis and Alzheimer’s. Innovative companies in the industry are engaged in large clinical trials and strong R&D investments for cancer therapeutics, as oncology is one of the most promising areas of focus in the biotech industry. Cognetivity Neurosciences Ltd. , Amgen Inc. , Allergan plc, Stryker Corporation , Varian Medical Systems, Inc.

“Rising incidence of oncology diseases is anticipated to drive the demand for next-generation cancer diagnostic tests. These tests are expected to facilitate early diagnosis and enable efficient prognosis of various forms of cancer, which in turn, is expected to positively influence progress of this vertical over the forecast period. Development and introduction of product offerings by a number of large entities is a significant factor expected to provide lucrative growth avenues to this market, active participation of global organizations, such as National Cancer Institute, Cancer Research Institute, National Foundation for Cancer Research, and Cancer Research UK, are supportive of the projected sector progress,” GVR reports.

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Cognetivity Neurosciences Ltd. is also listed on the Canadian Securities Exchange under the ticker. Earlier this month the company announced news that, it has been selected to present landmark results from its ongoing research into the use of the company’s Integrated Cognitive Assessment in the detection of early stage cognitive impairment associated with Multiple Sclerosis at the 34th congress of the European Committee For Treatment and Research In Multiple Sclerosis (MS) (ECTRIMS), held in Berlin, Germany.

The European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) is a non-profit organisation and an independent representative European-wide organisation devoted to Multiple Sclerosis. ECTRIMS works with researchers and clinicians of its member countries and with other organisations that share similar missions and objectives on a worldwide scale, creating networking and collaboration opportunities. In a talk titled ‘A brief language-independent and self-administered computerized test for cognitive assessment in multiple sclerosis (MS)’, Cognetivity’s Chief Scientific Officer, Dr. Seyed-Mahdi Khaligh-Razavi will present an overview of the company’s unique AI-based approach, and deliver positive results from ongoing trials into the effectiveness of its proprietary Integrated Cognitive Assessment (ICA) platform for early detection of cognitive impairment in populations of Multiple Sclerosis patients.

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The results that will be included in the presentation are as follows:

  • Details on the ICA, a five-minute test delivered via Apple iPads, the results from which are unaffected by culture, language and education, and which can be carried out unsupervised, meaning there is no need for health professionals to administer, a high cost factor with existing tests;
  • Data demonstrating the ICA’s excellent consitency for repeated testing and high level of convergent validity with the highly sensitive and expert-administered BICAMS battery of cognitive tests;
  • Data demonstrating the ICA test’s ability to discriminate between MS patients and healthy control subjects;
  • Data demonstrating the ICA’s high level of accuracy in discriminating cognitively normal from cognitively impaired participants; and
  • Data demonstrating that the ICA test showed no learning bias, making it suitable for frequent monitoring of cognitive performance.

Select attendees of the meeting include leading global pharmaceutical companies Merck, Novartis, Roche and Sanofi and leading academics from the field of MS research from institutions such as Cambridge UniversityHarvard Medical School, Massachussetts General Hospital, University College London and UCSF.

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Cognetivity’s CEO, Dr Sina Habibi said: “We are very excited that our Chief Scientific Officer, Dr. Khaligh-Razavi, is presenting these results at the ECTRiMS meeting, a very prestigious MS conference. What is particularly important is that we are able to demonstrate that our ICA platform can be used in other disease areas over and above our excellent, research-backed capability in Alzheimer’s disease and mild cognitive impairment (MCI). The fact that the ICA is able to detect the early signs of cognitive impairment associated with MS and that it performs very well compared with a highly sensitive, time consuming, expert-administered cognitive test demonstrates its effectiveness in a number of disease areas. The advantages of our platform in terms of sensitivity, usability, administration cost and repeatability over existing testing methods are clear and, based on those factors, we believe our technology has an important role to play in the future of cognitive testing in a growing number of major disease areas.”

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Cognitive impairment is increasingly recognized to be a core feature of MS, with important implications for the everyday life of individuals with MS and for disease management. There are an estimated 2.3 million sufferers worldwide and the global therapeutics market for MS estimated to reach US $24.8 billion by 2024. Early detection of cognitive impairment in MS is an important aspect of the clinical appraisal of sufferers, as its presence has a negative influence on physical independence and competence in daily activities and currently, cognitive testing involves time-consuming, expert administered pen and paper tests. There is a widely recognized and urgent need for an easy to administer test with the ability to reliably detect and regularly monitor cognitive ability in MS patients in order to allow clinicians to direct the most effective treatment to sufferers.

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