Avant Technologies and Ainnova Tech Form Joint Venture to Commercialize AI-Powered Retinal Disease Detection Platform

Avant Technologies, Inc. (OTCQB: AVAI) and Ainnova Tech, Inc. have announced a joint venture and licensing agreement through the formation of Ai-nova Acquisition Corp (AAC) to advance and commercialize Ainnova's technology portfolio, including its VisionAI platform and versatile retinal cameras. This partnership represents a significant development in healthcare technology, particularly in the field of early disease detection using artificial intelligence.

Ainnova will contribute its proprietary technology portfolio to AAC, including VisionAI and retinal camera technology, along with licensing rights for development, maintenance, and commercialization in North America and Europe. Avant Technologies will be responsible for providing the capital requirements to operate AAC. The VisionAI platform represents a cutting-edge advancement in medical diagnostics, capable of detecting diabetic retinopathy and other retinal diseases with high accuracy and speed using retinal scans. More remarkably, the technology can also identify diseases unrelated to the retina, including cardiovascular disease and potentially Alzheimer's disease.

The implications of this technology are substantial given the global healthcare landscape. With over 500 million people living with diabetes worldwide, VisionAI addresses a critical need for early detection of diabetic retinopathy, which is the leading cause of blindness among working-age adults. Statistics indicate that over 30% of those living with diabetes will develop diabetic retinopathy, a condition that can be prevented with accurate diagnosis. The platform's ability to analyze retinal images with precision, reliability, and speed helps bridge the gap between the shortage of ophthalmologists and the tens of thousands of people requiring testing.

According to Ainnova, the diagnostic error rate in diabetic retinopathy is approximately 49%, highlighting the significant improvement VisionAI offers for patient care. The partnership aims to make retinal scanning a new standard in primary care and basic health services by offering a scalable and accessible solution for early disease diagnosis. Ainnova's next-generation versatile retinal cameras are seamlessly integrated with VisionAI, creating comprehensive diagnostic systems that AAC can commercialize through SaaS and hardware offerings to opticians and eye care centers across North America and Europe.

The joint venture aligns with substantial market growth projections, as the AI in healthcare market is expected to grow from $6.9 billion to $67.4 billion by 2027, representing a compound annual growth rate of 46.2%. Ainnova's existing commercial agreements with pharmaceutical companies, clinics, insurance providers, and medical service companies provide AAC with established pathways into the North American and European markets. More information about Avant can be found at https://avanttechnologies.com.