Rennova Health Inc (NASDAQ:RNVA)
Rennova Health Inc (NASDAQ:RNVA) has announced an agreement with its subsidiary Advanced Molecular Services Group, Inc. and Certainty Health, LLC. Rennova is a vertically integrated provider of leading supportive and diagonistic software solutions for healthcare providers. Certainty Health is a provider of cloud-based mobile applications for patient-focused health information. The mission behind the partnership is to develop innovative smartphone tools to allow patients, families, and healthcare providers to access crucial patients’ genetic background and assist in making treatment decisions for various psychiatric diseases.
Certainty Health President and COO, Dr. Chris Yoo, said they expect their partnership with Rennova Health Inc (NASDAQ:RNVA) to help his company in expanding the precision medicine platform so as to address the unmet demands among patients and caregivers for molecular information affecting psychiatry. He added that Rennova has a large database of pharmacogenomic drug metabolism data spanning over a decade of real-world diagnostic results for multiple diseases.
Under the agreement, Rennova Health Inc (NASDAQ:RNVA) will be in charge of marketing consumer-facing genetic tests developed by the Advanced Molecular Services Group using the Certainty Health brand. The first product to be sold through the partnership includes tests to determine how an individual will respond to a variety of pharmaceutical drugs used in treating psychiatric disorders. According to data from the National Alliance on Mental Illness, NAMI, 43.8 million people in the U.S are being treated for psychiatric disorders plus around 66% more people can’t access the treatment. The partnership is expected to make test results available to physicians, patients and other involved parties.
The collaboration will deliver test results for these patients, physicians, and other stakeholders in the circle of care team to increase the chances that the right drug will be chosen for the right patient in the right amount. According to Advanced Molecular Services Group, the molecular tests will be available by the fourth quarter of 2017. The technology produced by the group integrates patented laboratory testing results and artificial intelligence interpretation to offer treatment options for patients and their physicians.
Advanced Molecular Services Group CEO, Dr. Scott Jenkins, says although precision medicine in a great and important science, it is largely inaccessible to the average family due to high costs.
Rennova Health Inc (NASDAQ:RNVA) closed the Tuesday session with an impressive +12.85% or +$ 0.050 raise to close the session at $ 0.440
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.