Light AI's innovative approach eliminates the need for traditional swab cultures by using AI algorithms to analyze images, offering a quick and accessible diagnostic solution. The company plans to expand its technology to diagnose other conditions using smartphone images, potentially reducing the global economic burden of diseases like Rheumatic Heart Disease. Cboe Canada, known for listing innovative growth companies, supports Light AI's mission to advance healthcare diagnostics and looks forward to facilitating its journey in the capital markets.
Key takeaways:
- Light AI Inc., a healthcare company, has completed its public offering and is now listed on the Cboe Canada exchange under the symbol ALGO.
- The company's diagnostic software uses AI algorithms to analyze smartphone images for identifying Strep A infections, achieving approximately 97% accuracy in pre-FDA validation studies.
- Light AI's technology offers a significant advancement in diagnosing GAS pharyngitis, potentially reducing the incidence of Rheumatic Heart Disease and its associated costs.
- Cboe Canada is a Tier 1 stock exchange that provides a best-in-class listing experience, facilitating 15% of all volume traded in Canadian listed securities.