- MyFiziq (MYQ) has teamed up with the Canadian-based NuraLogix Corporation to create a “never before seen” health app
- NuraLogix has developed a video camera technology that takes a 30-second selfie of the face to determine a wide range of health issues and risks
- Additionally, the technology will also be used for COVID-19 symptoms analysis, which shows the likelihood of the individual having the virus or a seasonal cold or flu
- The companies will create a demo app, which will be available in Brazil and China
- If successful, the parties will then look at expanding the technology globally
- Myfiziq is up 3.64 per cent on the market today and is trading for 28.5 cents each
MyFiziq (MYQ) has teamed up with Canadian-based NuraLogix Corporation to create a “never before seen” health app.
NuraLogix has developed a video camera technology that takes a 30-second selfie of the face to determine a wide range of physiological and health-related parameters.
From the selfie, the technology can detect the heart rate, heart rate variability, blood pressure, stress, cardiovascular disease risks and much more.
The technology is called Transdermal Optical Imaging (TOI) and uses the video camera to extract blood flow information from the face. This information is then processed by advanced machine learning algorithms residing on DeepAffex, NuraLogix’s affective artificial intelligence engine.
Combining the technologies
MyFiziq’s image dimensioning will be combined with DeepAffex and the TOI to form a “never seen before total health screen from a mobile phone.”
The combined technologies can be used on all ages.
The technology can assess the individual’s blood pressure, stress levels, heart rate, irregular heartbeat, respiratory rates, emotion, total body fat, waist to height ratio, cardiovascular disease risk, type 2 diabetes risk and many more.
These results give the individual the opportunity to see their personal exposure to health-related disease, which forms up to 70 per cent of deaths globally each year.
Additionally, the technology will also be used for COVID-19 symptoms analysis, which shows the likelihood of the individual having the virus or a seasonal cold or flu.
Businesses around the world are exploring the potential of combining thermal imaging cameras with drone technology to scan crowds and fight against current and future pandemics.
However, the companies are looking to be less invasive and give individuals a choice to screen themselves at home or work, whenever they feel they may have been exposed or are showing any known symptoms.
Terms of the partnership
Under the agreement, the parties have agreed to create a demo app, which will combine their technologies to show the full potential of the app over the next 90 days.
After that, if the app is looking successful, then the companies will further negotiate a formal commercial agreement to specify terms, including pricing, revenue sharing, intellectual property, development work and marketing.
The demo app will only be initially offered to The Serfaty Clinic in Brazil and WeSure/WeFit in Mainland China. These organisations have a combined population exposure of 1.6 billion.
The trial announcement is significant as Brazil is rapidly becoming the second most pandemic-affected country. If the demo is successful, then the companies will look towards a more global audience.
MyFiziq CEO Vlado Bosanac is excited with this new partnership as it brings one of a kind solution.
“When combining the company solutions, we form not only a unique offering, but one that enhances both companies’ ability to be the dominant player in digital health and convenience. The solutions form an easy to use, comprehensive review of an individual, accurately, privately, and conveniently from their mobile phone,” he said.
“We have left the commercial terms aside at this point in time, as the initial targets are existing clients of MyFiziq and we will determine the commercial aspects of consumer use in conjunction with them, upon the successful evaluation by the partners,” he added.
NuraLogix CEO Marzio Pozzuoli is pleased to help and improve the health and wellness of people around the globe during this difficult time.
“Staying at home during the current pandemic can be both physically and mentally exhausting. Now more than ever, it is important to be aware of, and monitor your physical and mental wellness using these combined solutions,” he explained.
“With these technologies, you can measure many health indicators for you and your family from the convenience of your home, using just your smartphone,” he added.
Myfiziq is up 3.64 per cent on the market today and is trading for 28.5 cents each at 12:57 pm AEST.