BioXcel Therapeutics Included in list of “The Most Innovative Healthcare AI Developments of 2019”
HOUSTON, TX / ACCESSWIRE / January 9, 2019 / Technology has changed in the blink of an eye. Concepts that were nothing more than science fiction, such as artificial intelligence (AI) and machine learning are now quickly disrupting global industries with significant capabilities. In fact, the limitless potential of AI alone is disrupting businesses, the way we conduct our affairs, and even the way financial institutions conduct high-frequency trading. It's impacting the way Salesforce.com, Microsoft, and Google do business.
Artificial Intelligence is even changing the way we look at healthcare in a big way. The global healthcare AI market alone is expected to reach $6.16 billion by 2022, notes Healthcare Informatics. By 2026, experts estimate that AI applications could save the U.S. healthcare economy up to $150 billion, and help address 20% of unmet clinical demand. It could very well improve overall quality of patient care, prevent unnecessary medical costs and procedures while improving on diagnoses and treatment options. It's no wonder 77% of healthcare executives are accelerating investments in AI, according to a New Vantage Partners survey. As such disruptive technology makes its way into the healthcare sector, some of the top stocks to watch include Cognetivity Neurosciences Ltd. (CSE: CGN)(OTCQB: CGNSF), Globus Medical Inc. (NYSE: GMED), and BioXcel Therapeutics, Inc (NASDAQ: BTAI).
Clinical stage biopharmaceutical company, BioXcel Therapeutics, Inc (BTAI) uses AI technologies to design new medications for immune-oncology needs. In fact, the company was just granted Fast Track Designation for its investigational drug BXCL501 by the US FDA.
Dr. Vimal Mehta, Chief Executive Officer of BTI, commented, "Fast track designation for BXCL501 highlights FDA's recognition of our investigational therapy as a possible treatment for acute agitation associated with schizophrenia, bipolar disorder and dementia. This regulatory milestone will help facilitate clinical development and expedite regulatory review of BXCL501, bringing us closer to potentially delivering an optimal therapeutic solution effective for both patients and caregivers."
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