MINDCURE Files Provisional Patent Application For iSTRYM, its Digital Therapeutics (DTx) SaaS Platform
Company Now Is In Two High Growth Rate Global Markets With iSTRYM In The DTx Market, Projected To Reach $56 Billion By 2025 And The Global Psychedelic Market Projected To Reach Over $7.5 Billion By 20281
Mind Cure Health Inc. (CNSX: MCUR) (OTCMKTS: MCURF) an industry leader in advanced proprietary technology for psychedelic therapy, that also identifies, develops, and commercializes various proprietary products that enhance mental health and wellness, ease suffering, and increase productivity, is pleased to announce that it has submitted a provisional patent application with the United States Patent and Trademark Office to cover iSTRYM, the company’s proprietary AI digital therapeutics (DTx) tool, designed to enhance effectiveness of psychedelic-assisted therapies for practitioners and patients.
iSTRYM is an investigating technology that focuses on patient feedback and data-driven insights into the efficacy of treatments in order to assist in the application of more effective and more efficient diagnosis techniques and treatments. It’s a technology that is targeted for both therapists and patients.
MINDCURE is investing significant resources into its near term revenue strategy, developing the proprietary iSTRYM technology and digital therapeutics (DTx), targeting the value that these tools offer to the emerging markets of psychedelics and psychedelic-assisted therapy. DTx are evidence-based therapies delivered via software to complement existing treatments. What is unique about DTx compared to other health care technologies is that they require approval from regulatory bodies, unlocking the potential for insurer paid revenue streams. One approved by regulatory bodies, our technology and the fact based developed & more efficient therapies it gives birth to, will be adopted and utilized across a majority of practitioner therapists and patients, and become the service tool of choice. Its designed to be the model platform that becomes the industry backbone to identify and aggregate the best and most efficient protocols optimized by AI. It quantifies a number of therapies to create a universe of personalized and precision medical therapies identified in trials and individually recommended for each patient’s unique situation and needs.
iSTRYM will arm therapists with better tools and patient insights rooted in data while providing quantified care at scale to individuals who go through the therapeutic process.
When people think of MINDCURE, I want them to see us as the leader in technology and specifically digital therapeutics for the psychedelics industry. We intend to build iSTRYM into the world’s largest data repository of psychedelic experiences, backed by science and built on trust. This is why we were so thrilled to recently receive ethics approval from Veritas for our integration protocol research study, and why we view this provisional patent application as the next milestone for iSTRYM. Digital therapeutics (DTx) were gaining popularity as tools to help slash the $3 trillion annual spending (in the US alone) on chronic disease, and the pandemic has vaulted digital therapies into that spotlight. We are at the right place in time and we believe that could bode well for our shareholders.Kelsey Ramsden, President and CEO, MINDCURE.
Pre-pandemic, the global DTx industry was projected to reach $13.8 billion in 2025 at a tremendous CAGR of 20.5 percent, but the increased acceptance and reliance on digital health care brought about by COVID-19 has increased this projection significantly, as new forecasts anticipate the DTx market to be a $56 billion global opportunity by 2025.2
“We believe that iSTRYM has the potential to revolutionize the way mental health is treated across the world, and know the importance of patent protection as we invest significant resources in its development and commercialization,” said Geoff Belair, CTO, MINDCURE.
The patent application was submitted on March 22, 2021 as App. No. 63/167,611.
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