MCI Onehealth Announces Investment in Ariel Precision Medicine
Investment further enables disease discovery and therapeutic development
TORONTO, April 29, 2021 (GLOBE NEWSWIRE) -- 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.
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.