Health: Tech giant IBM integrates Total Brain’s mental health tech to help vets
Health & Biotech
Link copied to
Shares in mental health and fitness tech company Total Brain (ASX:TTB) jumped 50 per cent on Thursday morning on news $175 billion tech giant IBM was integrating its technology.
Total Brain will be embedded in IBM’s THRIVE360° of Mental Fitness platform as a core functionality.
The platform powers GRIT (Get Results in Transition) to address individual and social determinants of health and well-being, and is being used by the US Department of Veteran Affairs (VA) to help veterans, active-duty service members, and reservists understand and strengthen their mental fitness, social connections, and overall well-being.
Powered by a large standardised brain database, Total Brain’s SaaS platform helps people scientifically measure and optimise their brain capacity while managing the risk of common mental conditions. It is being used by a range of employers across the US.
TTB shares rose to 3.6c before lunch, their highest point since early February.
Kathleen Urbine, emerging technology and mobile lead at IBM Services, said GRIT was the first branded digital solution dedicated to helping populations who live under considerable stress or are going through a significant life transition like leaving the military to re-enter civilian life.
“This is a historic public-private partnership with the VA — one that helps veterans bridge the gap when they are transitioning out of service and at their most vulnerable,” she said. “Our partnership with Total Brain is crucial in supporting the mental health and fitness aspect of this tool and we look forward to continuing this important work.”
Louis Gagnon, CEO of Total Brain, said his company would provide scientific brain assessments and personalised brain and mind training to help users consolidate mental strengths and master weaknesses.
“Our partnership with IBM has the capacity to revolutionise mental health and fitness management across large populations that are exposed to significant stress or material change and uncertainties,” he said.
“We are thrilled to partner with IBM to address the health and well-being of the VA community with easy-to-use, ubiquitous and adaptive technology that recognises the importance of both individual and social determinants. The very concept of well-being is a holistic one; hence, its improvement must come from a holistic solution. Furthermore, we cannot think of a more deserving community.”
MGC Pharma (ASX:MXC) jumps 13 per cent on financial results. A promise to deliver increased revenue has been fulfilled, with MGC reporting a 121 per cent jump to $656,000 in the 2019 financial year. Full-year loss was also significantly reduced, by 72 per cent to $2.3m. The company has been riding a wave of momentum of late amid a range of milestones. Shares hit 4.4c shortly before lunch.
Wellness & Beauty Solutions (ASX:WNB) up 23 per cent on acquisition. The company is acquiring Sydney-based skincare and beauty distributor True Solutions for $500,000. WNB gains access to a distribution network of over 1,000 medical cosmetic clinics, spas and beautician salons, while True Solutions’ products will be launched through WNB’s clinic network and marketed to WNB’s professional spa and salon database.
Paradigm’s (ASX:PAR) drug reduces cartilage degradation in knee osteoarthritis. iPPS, Paradigm’s drug that is kicking arse in Phase II trials in patients with knee osteoarthritis, also demonstrated significant reduction in the levels of two key biomarkers associated with cartilage degradation in knee osteoarthritis. Shares in the company rose 18 per cent to $1.70 on the news.
Kazia (ASX:KZA), Biotron (ASX:BIT) and Elixinol (ASX:EXL) all report FY19 figures:
|FY19 Revenue||FY19 Profit||FY19 Loss||Share movement today|