Partnership will expand Firefly’s FDA Cleared BNA™ technology to more hospitals and physician offices
TORONTO, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Firefly Neuroscience, Inc. (“Firefly,” “we,” or the “Company”) (NASDAQ: AIFF), an Artificial Intelligence (“AI”) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders, today announced a strategic partnership with Zeto, Inc. (“Zeto”), a leading innovator in EEG brain monitoring technology. Under the agreement, Firefly will act as a non-exclusive distributor of Zeto’s FDA-cleared EEG headset devices, cloud platform and services, expanding Firefly’s accessibility to healthcare providers and institutions. This collaboration will also integrate Firefly’s proprietary Brain Network Analytics (BNA™) technology with Zeto’s advanced EEG platform, which is currently being used in more than 200 hospitals and neurology offices across the country.
"This collaboration of two progressive technology companies represents a major step forward in addressing an unmet medical need in brain health," said Jon Olsen, CEO of Firefly. "By combining Zeto’s innovative hardware with our proprietary BNA™ technology, this partnership will offer healthcare providers deeper insights into neurological conditions that will ultimately improve patient outcomes.”
Zeto’s EEG headsets - WR19 and Zeto ONE - are FDA-cleared, full-montage, and easy to use, making brain monitoring accessible across various clinical settings, including the ICU, ED, hospital, office, and home. Supported by a robust cloud-based platform, Zeto offers nationwide monitoring and interpretation services by neurologists, along with AI-powered seizure detection and video capabilities. As part of the distribution agreement, Firefly will offer Zeto’s devices and cloud services to its customers, allowing healthcare professionals to access, analyze, and store EEG data in real-time. The integration with Firefly’s BNA™ platform enables more precise analysis and expanded use of EEG technology, optimizing diagnostics for a wide range of neurological disorders.
Zeto’s Founder and CEO, Aswin Gunasekar, stated, “We are excited to partner with Firefly to offer customers more valuable tools, helping expand our user base and improving the value of EEG. By integrating Firefly’s BNA™ offering with Zeto’s EEG platform, we are able to advance our mission of positively impacting patients' lives through transformative, user-friendly, and best-in-class solutions.”
For more information on this partnership and the services offered, please visit: https://fireflyneuro.com/.
About Firefly Firefly (NASDAQ: AIFF) is an Artificial Intelligence (“AI”) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders. Firefly’s FDA-510(k) cleared Brain Network Analytics (BNA™) technology revolutionizes diagnostic and treatment monitoring methods for conditions such as depression, dementia, anxiety disorders, concussions, and ADHD. Over the past 15 years, Firefly has built a comprehensive database of brain wave tests, securing patent protection, and achieving FDA clearance. The Company is now launching BNA™ commercially, targeting pharmaceutical companies engaged in drug research and clinical trials, as well as medical practitioners for clinical use.
Brain Network Analytics was developed using artificial intelligence and machine learning on Firefly’s extensive proprietary database of standardized, high-definition longitudinal electroencephalograms (EEGs) of over 17,000 patients representing twelve disorders, as well as clinically normal patients. BNA™, in conjunction with an FDA-cleared EEG system, can provide clinicians with comprehensive insights into brain function. These insights can enhance a clinician’s ability to accurately diagnose mental and cognitive disorders and to evaluate what therapy and/or drug is best suited to optimize a patient’s outcome.
About Zeto, Inc. Zeto, Inc., an award-winning medical technology firm, is at the forefront of advancing EEG brain monitoring and diagnostics for healthcare. Offering wearable devices, Zeto makes brain monitoring accessible across various clinical settings including the ICU, ED, hospital, office, and home. Supported by a feature-rich cloud-based platform, Zeto provides nationwide monitoring and interpretation services rendered by neurologists, alongside AI-enabled detection for conditions such as seizures and epilepsy. Zeto plans to expand its capabilities in the future to recognize and manage conditions such as depression and traumatic brain injury.
Forward-Looking Statements Certain statements in this press release and the information incorporated herein by reference may constitute “forward-looking statements” for purposes of the federal securities laws concerning Firefly. These forward-looking statements include express or implied statements relating to Firefly’s management teams’ expectations, hopes, beliefs, intentions, or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting Firefly will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Firefly’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: risks related to development and commercialization of BNA™ technology; risks related to Firefly’s ability to recognize the anticipated benefits of the merger (the “Merger”) with WaveDancer, Inc. (“WaveDancer”); risks related to Firefly’s ability to correctly estimate its operating expenses and expenses associated with the Merger and other events and unanticipated spending and costs that could reduce Firefly’s cash resources; the ability of Firefly to protect its intellectual property rights; competitive responses to the business combination; unexpected costs, charges or expenses resulting from the Merger; potential adverse reactions or changes to business relationships resulting from the completion of the Merger; legislative, regulatory, political and economic developments; and those factors described under the heading “Risk Factors” in the in the registration statement on Form S-4 filed by WaveDancer with the Securities and Exchange Commission on January 22, 2024, as amended, and declared effective on February 6, 2024. Should one or more of these risks or uncertainties materialize, or should any of Firefly’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. It is not possible to predict or identify all such risks. Forward-looking statements included in this press release only speak as of the date they are made, and Firefly does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Investor Contact KCSA Strategic Communications Valter Pinto or Jack Perkins (212) 896-1254 Firefly@KCSA.com
Media Contact KCSA Strategic Communications Raquel Cona, Vice President (516) 779-2630 Rcona@KCSA.com
