DIAGNOS Secures $400,000 Government Contribution for International Expansion

BROSSARD, Quebec, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Diagnos Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture: ADK, OTCQB: DGNOF, FWB: 4D4A), a pioneer in early detection of critical health issues through the use of its FLAIRE platform based on Artificial Intelligence (AI), announces today that it was granted a financial contribution of up to CA$400,000 from the Canada Economic Development for Quebec Regions organization (CED) to implement an international marketing strategy for CARA (the “Project”).

The financial assistance agreement signed between DIAGNOS and CED commits CED to making a refundable contribution of up to $400,000 to DIAGNOS, calculated at 50% of eligible expenses related to the Project, for the period of June 7, 2024 to June 30, 2026. Repayment of the contribution by DIAGNOS will begin 24 months after the end of the Project and span over 60 months, no interest bearing.

Mr. André Larente, President and CEO of DIAGNOS, said “We would like to thank CED for its support and trust in DIAGNOS. We are proud to be recognized by the Government of Canada as being a key asset in the Canadian economy.”

The financial contribution from the Government of Canada aligns with DIAGNOS' long-term strategic goals and growth plans in several ways. Firstly, it enables the company to invest in an international marketing strategy for its CARA application, which is a cost-effective tool for real-time screening of large volumes of patients using the FLAIRE AI platform. This investment will help DIAGNOS expand its global presence and reach new markets, ultimately driving revenue growth and increasing market share.

Secondly, the funding supports DIAGNOS' continuous innovation and product development efforts. By investing in the enhancement and promotion of its CARA application, DIAGNOS can stay competitive in the global clinical diagnostics market and maintain its reputation as a leader in early detection of critical health issues using AI.

Lastly, the government support validates DIAGNOS' innovative approach to healthcare and further strengthens its reputation in the market. The recognition and support from the Government of Canada signal to potential customers, partners, and investors that DIAGNOS is a reliable and trustworthy player in the global clinical diagnostics market.

In conclusion, the financial contribution from the Government of Canada through CED significantly enhances DIAGNOS' competitive position within the global clinical diagnostics market and offers numerous long-term benefits, including increased market share, enhanced brand recognition, access to new markets, attraction of strategic partnerships, and improved financial performance.