Dublin, Ireland–(Newsfile Corp. – April 12, 2024) – Cosmo Pharmaceuticals NV (SIX: SIX:) (FSE: C43) (“Cosmo”) announces that Medtronic plc (NYSE: NYSE:), a global leader in healthcare technology, showcased the latest advances in artificial intelligence (AI) for endoscopy care at Genius Summit 2024 by unveiling ColonPRO™, the next-generation software for the GI intelligent endoscopy system Genius™ developed by Cosmo IMD, along with a new strategic collaboration designed to improve patient care.
The GI Genius™ System was the first commercially available computer-aided detection (CADe) system that used artificial intelligence to identify colorectal polyps. Its significant impact has been extensively studied with over 30 academic and real-world publications on a cumulative total of over 23,000 patients.1 Based on the current global install base, the GI Genius™ System has the potential to impact 2.7 million patients annually.2 Now, with the launch of ColonPRO™ software, the GI Genius™ system takes a significant step forward in AI-based polyp detection by introducing an improved algorithm, supported by a dataset that is twice the size of its predecessor, with a consequent notable improvement in its detection capabilities. Specifically, there was a 9% reduction in false positives.3 Additionally, the system developed by Cosmo now incorporates a new feature that provides procedural highlights;4 a major milestone in its ability to automate clinicians’ workflow, reduce administrative burdens in documentation, and pave the way for future integration with electronic health records. The update also provides user interface improvements to support third-party application development through the AI Access™ platform, introduced at last year’s Genius Summit.
Medtronic also announced its collaboration with Cosmo and Modernizing Medicine® (ModMed), a pioneer in healthcare technology and electronic health records (EHR), further underscoring its commitment to a synergistic approach to the future of endoscopic care. ModMed’s gGastro® EHR software complements the GI Genius™ system and offers robust documentation solutions.
“Through our collaboration with ModMed, we can continue to help gastroenterologists achieve greater efficiency by optimizing workflows and leveraging enhanced decision making, freeing up valuable time for patient care,” said Raj Thomas, president of the Endoscopy Division , which is part of the Medical Surgical Portfolio at Medtronic. “We are committed to collaborating with industry leaders and focusing on where we can best deliver innovation, addressing unmet clinical needs and raising the standard of care.”
“The new developments at Cosmo on the GI Genius™ system, and in particular the release of the new operating system compatible with the ColonPRO™ software, will accelerate the introduction of new features and simplify the development of the AI Access™ platform,” said Nhan Ngo Dinh, President of Cosmo Intelligent Medical Devices.
Companies will begin testing new features for future integration, moving closer to the shared vision of enabling gGastro® EHR software to receive real-time AI-generated data from the GI Genius™ system, making the documentation process more efficient and enabling doctors dedicate more time to patient care. Medtronic’s announcements at Genius Summit 2024 highlight its commitment to advancing colorectal cancer care with AI-driven innovations and strategic collaborations. Cosmo and Medtronic remain at the forefront of providing solutions that address the needs of both patients and physicians.
About Cosmos
Cosmo is a pharmaceutical company focused on developing and commercializing products to treat select gastrointestinal disorders, to improve endoscopy quality measures by aiding in the detection of colonic lesions, and to treat select dermatologic conditions. Cosmo develops and manufactures products that are distributed globally by select partners including Lialda®/Mezavant®/Mesavancol®, Uceris®/Cortiment®, Aemcolo®/Relafalk® and Winlevi®. Cosmo has also developed medical devices for endoscopy and has a partnership with Medtronic for the global distribution of GI Genius™ which uses artificial intelligence to help detect potential signs of colon cancer. The company also has a rich development pipeline. For more information about Cosmo and its products, please visit www.cosmopharma.com.
Upcoming calendar of events
2023 Annual Report April 30, 2024
2024 Annual General Meeting 24 May 2024
ODDO BHF Nextcap Forum 2024 6 June 2024
Half-yearly results 2024 25 July 20024
Contact
Hazel Winchester
Head of Investor Relations
Cosmo Pharmaceuticals NV
Tel: +353 1 817 03 70
hwinchester@cosmopharma.com
Disclaimer
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are, of course, subject to risks and uncertainties. Factors such as developments in general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause actual events or results to be materially different from those anticipated by such statements. Cosmo makes no representations or warranties, express or implied, as to the accuracy, completeness or current status of such statements. Therefore, under no circumstances will Cosmo and its affiliated companies be liable to anyone for any decision made or action taken in connection with the information and/or statements contained in this press release or for any damages related thereto.
1 https://cosmoimd.com/gi-genius/
2 Medtronic internal data, based on shared colonoscopy volumes by facility
3 CB1708-MN-US: GI Genius™ Systems User Manual
4 CB1708-MN-US: GI Genius™ Systems User Manual
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