MCI Onehealth Announces Investment in Ariel Precision Medicine
April 29 2021 - 9:05AM
MCI Onehealth Technologies Inc. (“MCI”) (TSX: DRDR), a
clinician-led healthcare technology company focused on increasing
access to and quality of healthcare, announces an initial
investment in Ariel Precision Medicine, Inc. (“Ariel”) in exchange
for a convertible promissory note that is convertible into equity
securities in Ariel upon certain events. The investment supports
the growth of Ariel while establishing a foundation for a
collaborative commercial partnership and future entry for MCI into
the United States market. With Ariel’s focus on precision diagnosis
and targeted therapeutics, this investment is anticipated to
advance MCI’s precision medicine and technology roadmap by
accelerating both clinical and commercial projects with
pharmaceutical, medical device and life sciences companies.
“The addition of Ariel’s solution into MCI’s
increasingly advanced clinical tool kit will create real benefit
for our patients by speeding up time to diagnosis and bringing in
more accurate and targeted therapy,” said Dr. Alexander Dobranowski
MD., CEO of MCI. “As we explore a commercial pilot with Ariel,
we’re thrilled to have Jessica Gibson, Ariel’s Co-Founder and CEO,
bring her experience and unique expertise to MCI in an advisory
capacity.”
Ariel is seamlessly integrating genetic data
into clinical decision-making, empowering doctors and patients to
prevent, mitigate or even reverse disease progression. Ariel’s
innovations enable evidence-based, patient-specific treatment
decisions by bringing together the most advanced insights. Ariel’s
artificial intelligence technologies analyze complex gene-to-gene
interactions as well as lifestyle and environmental factors to
provide a more comprehensive view of disease trajectory and precise
therapeutic options.
“Ariel combines genetic and clinical information
into disease models to help identify early symptoms of disease and
develop patient centered therapies,” said Jessica Gibson, Ariel’s
Co-Founder and CEO. “Both MCI and Ariel share the goal of getting
such tools into the hands of primary care providers to improve
health outcomes and cost. The combination of MCI’s clinical network
and Ariel’s platform will empower both physicians and patients with
insights into each patient’s unique health needs and support
evidence-based decisions for disease prevention and treatment.”
About MCI
MCI is a healthcare technology company focused
on empowering patients and doctors with advanced technologies to
increase access, improve quality, and reduce healthcare costs. As
part of the healthcare community for over 30 years, MCI operates
one of Canada’s leading primary care networks with 25 clinics,
serves over 850,000 patients annually and had over 200,000
telehealth visits last year. MCI additionally offers an expanding
suite of occupational health service offerings that support a
growing list of over 250 corporate customers. Led by a proven
management team of doctors and experienced executives, MCI is
executing a strategy centered on acquiring technology and health
services that complement the company’s current roadmap. For more
information, visit mcionehealth.com.
About Ariel
Ariel is an innovative precision medicine
company, transforming genetic and clinical data into new insights
for the diagnosis and advanced therapeutic alignment and
development for complex health conditions. The company has
developed the AI-fueled ADVANCE® Platform to identify early
symptoms of disease and uncover the causes in each patient and use
those insights to develop/align targeted therapeutics. Initially
targeting pancreatitis, ADVANCE® will be able to accelerate the
early diagnosis and targeted management of other chronic health
conditions. Ariel’s clinical decision support tools integrate
genetic and clinical data, systems biology, automation and
artificial intelligence to determine the biological dysfunction
driving a patient’s condition and link to evidence-based medicine
and treatments tailored for each patient. For more information,
visit www.arielmedicine.com.
For IR enquiries please
contact:Fernando Massalin | Ir@mcionehealth.com | +1
(416) 440-4040 ext 155
For media enquiries please
contact:Braden Rosner | braden@yprcanada.com | +1
(647) 982-8549
Forward Looking Statements
This press release contains forward-looking
information within the meaning of applicable securities
legislation, which reflects MCI’s current expectations regarding
future events, including statements relating to: the impact of the
investment on MCI and its precision medicine and technology
roadmap, the integration of Ariel’s and MCI’s technology and the
foundation for future entry into the United States market. In some
cases, but not necessarily in all cases, forward-looking statements
can be identified by the use of words or phrases such as “plans”,
“targets”, “expects”, “estimates”, “intends”, “anticipates”,
“believes”, or variations of such words or phrases or state that
certain actions, events or results “may”, “could”, “would”, “might”
or “will” occur. Forward-looking information is based on a number
of assumptions and is subject to a number of risks and
uncertainties, many of which are beyond MCI’s control, which could
cause actual results and events to differ materially from those
that are disclosed in or implied by such forward-looking
information. Such risks and uncertainties include, but are not
limited to, the factors discussed under "Risk Factors" in the final
prospectus of MCI dated December 29, 2020. MCI does not undertake
any obligation to update such forward-looking information, whether
as a result of new information, future events or otherwise, except
as expressly required by applicable law.
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