Cosmo Pharmaceuticals announces that Cosmo Intelligent Medical Devices – IMD Ltd, fully owned subsidiary of Cosmo Pharmaceuticals, and Medtronic to expand cooperation on GI Genius™
Cosmo Pharmaceuticals N.V. / Key word(s): Agreement
Ad hoc announcement pursuant to Art. 53 LR
Dublin, Ireland – 22 March 2023: Cosmo Pharmaceuticals N.V. (SIX: COPN, XETRA: C43) (“Cosmo”) today announced that its fully owned subsidiary Cosmo Intelligent Medical Devices – IMD is expanding its cooperation with Medtronic, the world’s largest healthcare technology provider, to accelerate the development of Artificial Intelligence (AI) in the healthcare system and bring new AI-based solutions into patient care.
GI Genius™ intelligent endoscopy module has been designed with a modular architecture which allows hosting a suite of different applications for real-time procedures and has the potential to significantly accelerate AI innovation for better patient care.
Starting from the GI Genius™ system, Medtronic will create an AI Access™ Platform, a set of solutions meant to enable and scale up the implementation of artificial intelligence in the endoscopy suite.
Cosmo IMD will simultaneously develop Cosmo’s Innovation Center, to provide Software as a Medical Device (SaMD) developers with a sandbox to design and test medical AI using a virtual version of the GI Genius™ hardware. The new SaMDs are intended to be hosted on the GI Genius’™ operating system and marketed by Medtronic. The Innovation Center is a way to accelerate innovation and bring AI-powered applications to the market faster.
The collaboration will enable developers to work on Medtronic’s GI Genius™ AI Access™ Platform and the Innovation Center to efficiently train and validate SaMDs to advance innovation in healthcare.
“We intend to have the GI Genius™ module host an ecosystem of algorithms to help support physicians,” said Giovanni Di Napoli, president of the Gastrointestinal business at Medtronic. “By incorporating NVIDIA Holoscan and the IGX platform into GI Genius™, we aspire to speed up the medical device development cycle and expand access to real-time AI in procedures.”
Nhan Ngo Dinh, President, Cosmo Intelligent Medical Devices (IMD), commented: “We look forward to this expansion of our collaboration with Medtronic within GI Genius™. GI Genius™ has been conceived in order to bring AI content on real-time video flow in any diagnostic or clinical setting. The opening of the architecture to external developers will accelerate the introduction of AI in every healthcare context.”
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|Company:||Cosmo Pharmaceuticals N.V.|
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