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MIAMI, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Ehave, Inc. (OTC Pink: EHVVF) ("Ehave" or the "Company"), a provider of digital therapeutics for the psychedelic and mental health sectors, announced today it has entered into a Memorandum of Understanding ("MoU") with Brain Scientific Inc. (OTCQB: BRSF) ("Brain Scientific") that will allow the two companies to leverage both data and AI to correlate biomarkers for the identification of chronic pain, depression (major and persistent), PTSD, bipolar disorder, general anxiety, ADHD and schizophrenia. The terms of the MoU call for Ehave and Brain Scientific to collaborate to exploit graph based AI, linked data protocols with respect to such AI, and leverage such data and AI to develop neural net algorithms. As an initial matter, one purpose of the neural net algorithm would be to upload already trained neuronet into a specialized chip that Brain Scientific is developing into a temporary E-Tattoo.
As part of the MoU, Ehave would integrate Brain Scientific's NeuroCap and NeuroEEG to acquire data from patients in real time, or put such data into a cloud. Ehave could also seek to deploy NeuroCap and NeuroEEG in clinical settings with Ehave's partner healthcare providers, such as psychiatrists, psychologists, psychotherapists and general practitioners. This will allow Ehave to capture the data around the electrophysiological changes in brain pre, mid and post psychedelic drug administration, and possibly build or partner with a functional lab to be equipped with NeuroCap and NeuroEEG devices to conduct market studies and collect data on various brain related physiological and mental disorders. These market studies and data collection activities are likely to begin in Australia and could be implemented in other parts of the world where Ehave operates. This same functional lab can be used to study consumer behavior and psychology in markets Ehave operates for further commercialization of Ehave's data and technologies.
Brain Scientific is seeking to improve neurology by modernizing the brain diagnostic market with its cutting-edge technology. As part of the MoU, Brain Scientific would provide its proprietary data signal acquisition devices, NeuroCap and NeuroEEG, for the Ehave platform. Brain Scientific will also provide the training and support needed to operate the installed equipment, the necessary software and hardware for the development of the technology and products, and will develop and validate products within three months of receiving any specifications from Ehave.
All data from any transactions contemplated by the MoU will be jointly owned by both Ehave and Brain Scientific. Ehave will cover the cost of testing and certification for products developed under this MoU and will receive full rights to all related intellectual property, including the right to sell and distribute any such products, on a 50/50 split basis after all expenses, including research and development.
The transactions contemplated by the MoU are subject to the negotiation, execution and delivery by the parties of definitive final agreements.
Victor S. Dorodny, MD,ND,PHD,MPH (www.DrDorodny.com), Medical Advisor to Ehave, said "This revolutionary technology might discover the mechanism of the dissociative effects of Ketamine. Ketamine actually "brakes" the pathological neuronal associations of the disease, and by doing so resets the normal brain activity."
Alfred Farrington II, CIO @Ehave, Inc. said, "The brain data in this platform is being compiled to help mental health researchers and give expertise to help practitioners make more informed decision about mental health care. We believe that data will revolutionize mental health, digitizing and analyzing it will give the health industry the opportunity to learn from this data while providing longitudinal insights that can link brain analysis and psychedelics."
"Our current EEG device is about the size of a stamp. By shrinking the technology, the system allows for continuous measurement during a person's normal activities, while providing a non-intrusive way to monitor various disorders," said Boris Goldstein, Chairman of Brain Scientific. We believe the future of EEG testing will be centered around the ability to gather more precise data through non-invasive measures of the brain via 3D temporary imprint or implanted graphene electrodes. By utilizing graphene, which has been called a "wonder material of the 21st century", Brain Scientific believes the size of the electrodes can be thinner than a human hair and will allow brain activity monitoring with minimal distraction from everyday life."
Ben Kaplan, CEO of Ehave, Inc. said, "One major goal of biomarker research is to improve the accuracy of diagnosis to improve patient outcomes. Biomarkers are measurable and do not define how a person feels or functions. There are currently 250 biochemical markers measured by assay to provide information about a broad range of the body's organic systems and their state of function, as well as how well the body responds to a treatment for a disease or condition." Mr. Kaplan continued, "This approach has been successful for some disorders, but for psychiatric disorders it still poses challenges. This MoU between Ehave and Brain Scientific could utilize graph based AI and linked data protocols to aid in the development of biomarkers for psychiatric disorders."
Additional Ehave Inc. Information
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About Ehave, Inc.
Ehave, Inc. (EHVVF) is a leader of digital therapeutics delivering evidence-based therapeutic interventions to patients. Our primary focus is on improving the standard care in therapeutics to prevent or treat brain disorders or diseases through the use of digital therapeutics, independently or together, with medications, devices, and other therapies to optimize patient care and health outcomes. Our main product is the Ehave Telemetry Portal, which is a mental health informatics platform that allows clinicians to make objective and intelligent decisions through data insights. The Ehave Infinity Portal offers a powerful machine learning and artificial intelligence platform with a growing set of advanced tools and applications developed by Ehave and its leading partners. This empowers patients, healthcare providers, and payers to address a wide range of conditions through high quality, safe, and effective data-driven involvement with intelligent and accessible tools. Additional information on Ehave can be found on the Company's website at: www.ehave.com.
About Brain Scientific:
Brain Scientific is a commercial-stage healthcare company with two FDA-cleared products, providing next-gen solutions to the neurology market. Its smart diagnostic devices and sensors simplify administration, shorten scan time and cut costs, allowing clinicians to make rapid decisions remotely and bridge the widening gap in access to neurological care. To learn more about Brain Scientific's corporate strategy, devices or for investor relations please visit: www.brainscientific.com or email at firstname.lastname@example.org.
Forward-Looking Statement Disclaimer
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company's research, manufacturing and other development efforts; (ii) the Company's ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company's products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company's industry and introduction of competing products; (vi) the Company's ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading "Risk Factors" in Ehave, Inc.'s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC's website, http://www.sec.gov.
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