Rising Demand for AI in healthcare: A Glance at BRN, OPL and LBT

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Summary

  • The innovations and advancements in healthcare technology have been the key driving factors for economic progress.
  • BrainChip has started manufacturing its neuromorphic processor chip for edge AI devices, while Opyl has hit a significant milestone concerning clinical trial recruitment platform development.
  • LBT Innovations updated the progress for the appointment of additional distributors for the APAS® Independence.

Undoubtedly, technology has a substantial role in every sector, and healthcare is no different. The application of various technologies in the healthcare sector has proved to a boon for physicians, researchers, and scientists. It is continually evolving to meet the changing demands for the transformation of the healthcare sector.

Furthermore, the innovations and advancements in healthcare technology have emerged as the major driving factors for economic progress and healthcare space rebuilding.

Within the healthcare space, artificial intelligence (AI) refers to using complex algorithms and software mimicking human intellect to assess complex medical information. Further, the use of AI is booming in popularity with the immense capacity to unleash innovations in expenditure, quality, as well as access.

With this backdrop, let us discuss three ASX-listed healthcare shares that are engaged in transforming healthcare with the help of AI - BrainChip Holdings Ltd, Opyl Limited and LBT Innovations Limited.

Let us zoom lens and discuss these three shares in detail-

BrainChip commences volume production of Akida AI Processor

A leading provider of ultra-low-power and high-performance AI technology, BrainChip Holdings Ltd (ASX:BRN) has started volume manufacturing of its Akida™ AKD1000 neuromorphic processor chip for edge AI devices. The Company is anticipating the production units to be available around August 2021.

BrainChip Early Access Program (EAP) customers in strategic end markets purchased Akida evaluation systems for several edge applications. Following the evaluation of the AKD1000 engineering samples, the Company focussed on improving the design in performance, efficiency, and scalability. It also added additional operating modes for even lower power consumption compared to its original design.

Akida NSoC is designed for use as a stand-alone implanted accelerator or as a co-processor and incorporates interfaces for ADAS sensors, audio sensors, as well as other IoT sensors.

BrainChip CEO, Peter van der Made, commented:

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The Company recently disclosed that it has applied to upgrade to the US OTCQX market driven by growing interest from the investors in the world’s largest economy.  

Stock Information: On 16 April 2021, BRN shares closed the day’s trade at A$0.0615, up 6.956%.

Opyl’s clinical trial recruitment platform achieves first major milestone

A new generation Australian company, Opyl Limited (ASX:OPL), updated the market on reaching a significant milestone concerning the clinical trial recruitment platform’s development.  The platform is continuing its development pathway and on track for market launch on 20 May 2021.

Source: © Nastyazhi | Megapixl.com

As predicted in OPL’s half-year announcement, the clinical trial recruitment platform achieved its first significant milestone of data going live on the platform on 31 March 2021.

The Company stated the platform’s official launch would be at the International Clinical Trials Day on 20 May 2021.

The upcoming milestones for the development pathway include a series of focus groups and onboarding several clients prepared to trial the platform. The first of a series of five customer and patient focus groups began on 8 April 2021 and will continue through May 2021 end.

The Company's recent placement was oversubscribed, and uptake of the share purchase plan (SPP) is developing well with strong interest.

Stock Information: On 16 April 2021, OPL shares last traded at A$0.205, up by 10.810%. 

LBT Innovations to appoint additional distributors

Australian medical technology leader in technology automation using AI, LBT Innovations Limited (ASX:LBT), provided an update to the market on the Company’s progress for the appointment of additional distributors for the APAS® Independence.

Through its 50% owned joint venture (JV) company, Clever Culture Systems, LBT has a two-fold commercialisation strategy for its APAS® Independence in each major international market.

  • The first element includes obtaining regulatory authorisation and then building market awareness via key opinion leaders' appointment.
  • The second is the appointment of a highly credentialed channel partner for APAS® Independence sale on a wider scale, without the requirement to generate a broad salesforce infrastructure, process, and system.

The Company anticipates that the US agreement will encompass superior responsibilities more aligned to a comprehensive distribution partnership.

LBT Innovations updated that the US appointment, including the Beckman Coulter’s role as Marketing Agent for the EU, will be a significant milestone and a huge step forward in establishing the resources to commercialise the APAS® Independence worldwide.

Brent Barnes, the CEO and Managing Director of LBT commented-

      

Stock Information: On 16 April 2021, LBT shares last traded at A$0.098, down 2.001%. 

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