MGC Pharma takes 40pc stake in ZAM, an AI healthcare platform that’s ‘ahead of market peers’
Health & Biotech
Health & Biotech
Link copied to
MGC Pharma believes ZAM is a game-changer and has the possibility of personalising medication – not just with cannabis-based drugs, but with all pharmaceutical drugs.
European based Biopharma MGC Pharmaceuticals (ASX:MXC) (LON:MXC) has taken a strategic 40% stake in Zam Software, the UK-incorporated owner of proprietary Artificial Intelligence (AI) data gathering platform, ZAM.
Under the terms, MGC Pharma will issue £700,000 of its own shares to acquire a 40% stake, with the 60% remaining stake still held by software development company Caba Tech, co-developers of the ZAM app.
MGC Pharma believes the ZAM app is a potential game changer in the industry as it enables the possibility of personalising medication – not just with cannabis-based drugs, but with all pharmaceutical drugs.
The app allows patients to log their medical history, providing the user’s doctor with a comprehensive set of data on treatment and medical history.
It also enables qualified medical practitioners to prescribe alternative medication following an online consultation through telehealth services such as MGC Pharma’s MCC based in Australia.
Stockhead reached out to Caba Tech founder, Alessandra Cadavid Doubinina, who told us that ZAM is part of her mission to build positive technology.
“Our goal is to focus on positive technology, and how that can really help shape the future in different spheres,” Cadavid Doubinina said.
“The current challenge in the medical industry is how to personalise medication to give patients the best medical journey, while also helping doctors to give the best medication to them.”
MGC Pharma believes the integration of the AI algorithm is revolutionary in the health sector, positioning the ZAM app far ahead of market peers.
The ZAM app is designed to provide tailored medical information to the patient alongside their health practitioner, increasing the real-time efficiency of patient care in the healthcare system.
Through the collection of patient data, ZAM will provide users with a more complete understanding of their health and treatment impact.
“There’s a huge parsing mechanism behind the technology,” explained Cadavid Doubinina.
“It can read medical articles in 40 different languages and scan 3 million articles in two seconds. For example, it can look at Chinese traditional medicines or medications from Thailand , Africa, or Russia or the US, and store them all into our database.”
The app tracks ongoing progress of a patient by asking them to answer questionnaires on a daily basis while they’re taking medication.
By combining these responses with its own collected data from medical literature , the app allows doctors to provide personalised medical treatment.
“The app will produce progress charts of the patient’s symptoms depending on the answers of the daily question,” Cadavid Doubinina said.
“This will help doctors prescribe the next level of treatment, while giving patients similar to a concise 10-minute doctor visit, all online.”
In time, MGC Pharma envisages that AI platforms globally could use data collected from the ZAM app.
This could include data from academic as well as clinical studies, and will help to predict potential conflicting side effects from multiple treatments.
“When there are patients who are undergoing clinical trials, we can enter those patients’ journey into ZAM,” she added.
“Future clinical trials can then use this information, so those trials could learn from and be shaped by what’s already done in the past.”
Cadavid Doubinina also believes there is a large potential market for the ZAM app in developing countries.
“We can release the app to the masses, particularly in developing countries that are unable to get proper access to medical advice and drugs,” she said.
“In those countries, this app will be like an advisor and become like an AI or artificial doctor for them.”
The app is currently being studied in a live environment.
The first phase of the ZAM release will be undertaken as a “closed release” whereby 100 patients of MGC Pharma’s Australian telehealth business will be given access.
This article was developed in collaboration with MGC Pharma, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.