FOXO Technologies Formalizes License Agreement with KR8.ai to Power New Epigenetic Wellness Solutions
22 1월 2024 - 10:30PM
Business Wire
Reports planned commercial launch of VITHAR™ AI
Health Coach Proceeding Ahead of Schedule
FOXO Technologies Inc. (NYSE American: FOXO)
(“FOXO” or the “Company”), a leader in the field of commercializing
epigenetic biomarker technology, today announced it has formalized
its collaboration with KR8.ai Inc. (“KR8”) and secured the
exclusive license to KR8’s AI-based software to support the
development and commercial launch of its new health and wellness
offering - the VITHAR™ AI Health Coach. As previously announced,
the Company is in the process of launching its new
subscription-based, direct-to-consumer product offering that is
designed to provide personalized health and wellness
recommendations, by combining: (i) FOXO’s machine learning models
to analyze epigenetic biomarkers; (ii) the Company’s expertise and
algorithms correlating epigenetic analysis with health outcomes;
and (iii) published, peer-reviewed, clinical data and other
verified, third-party health resources.
Mark White, Interim CEO of FOXO Technologies, stated,
“Formalization of this agreement is an important milestone as we
advance our new direct-to-consumer offering. By leveraging our
epigenetic data, genetic insight and growing patent estate, with
KR8’s AI-driven analytic software and proprietary algorithms, we
aim to provide the most robust direct-to-consumer health and
wellness app in the industry. We believe this offering will provide
consumers with unparalleled insight, including a comprehensive risk
analysis and actionable health insights to understand their
biological age, as well as optimize and better manage their health.
Our goal is to quickly and cost-effectively capture a meaningful
share of the Health and Fitness App Market size, which was valued
at $8.2 billion in 2022 and is projected to reach $35.7 billion by
2030 (Verified Market Research) through an offering that goes way
beyond traditional health apps, coupled with a cost-effective
go-to-market strategy. The new app will simply require users to
send a saliva or blood sample, and the technology will then combine
this information with user health stats, as well as peer-reviewed
clinical studies and other verified health resources to provide
customized AI-driven health recommendations. Since initially
announcing the collaboration, we have made tremendous progress and
are well ahead of schedule with our planned commercial launch. We
could not be more excited about the outlook for VITHAR™ and look
forward to providing further updates.”
About KR8.ai KR8.ai harnesses the power of AI-driven
analytics to optimize social media accounts’ current performance
against their full potential. Their premier mobile application,
aptly named 'the KR8 Coach', provides a comprehensive evaluation of
an account’s current performance against their full potential.
Based on this analysis, it then offers intelligent, AI-derived
suggestions to amplify the reach and effectiveness of their posts.
Beyond this, KR8 AI's innovative solutions are adaptable and can
seamlessly be integrated into third-party, direct-to-consumer
applications. This adaptability not only streamlines processes but
also results in more economically efficient technology
implementations.
About FOXO Technologies Inc. (“FOXO”) FOXO, a technology
platform company, is a leader in epigenetic biomarker discovery and
commercialization focused on commercializing longevity science
through products and services that serve multiple industries.
FOXO's epigenetic technology applies AI to DNA methylation to
identify molecular biomarkers of human health and aging. For more
information about FOXO, visit www.foxotechnologies.com. For
investor information and updates, visit
https://foxotechnologies.com/investors/.
Forward-Looking Statements This press release contains
certain forward-looking statements for purposes of the “safe
harbor” provisions under the United States Private Securities
Litigation Reform Act of 1995. Any statements other than statements
of historical fact contained herein, including statements as to
future results of operations and financial position, planned
products and services, business strategy and plans, objectives of
management for future operations of FOXO, market size and growth
opportunities, competitive position, and technological and market
trends, are forward-looking statements. Such forward-looking
statements include, but not limited to, expectations, hopes,
beliefs, intentions, plans, prospects, financial results or
strategies regarding FOXO; the future financial condition and
performance of FOXO and the products and markets and expected
future performance and market opportunities of FOXO. These
forward-looking statements generally are identified by the words
“anticipate,” “believe,” “could,” “expect,” “estimate,” “future,”
“intend,” “strategy,” “may,” “might,” “strategy,” “opportunity,”
“plan,” project,” “possible,” “potential,” “project,” “predict,”
“scales,” “representative of,” “valuation,” “should,” “will,”
“would,” “will be,” “will continue,” “will likely result,” and
similar expressions, but the absence of these words does not mean
that a statement is not forward-looking. Forward-looking statements
are predictions, projections and other statements about future
events that are based on current expectations and assumptions and,
as a result, are subject to risks and uncertainties. Many factors
could cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to: (i) the risk of changes in the competitive and highly
regulated industries in which FOXO operates, variations in
operating performance across competitors or changes in laws and
regulations affecting FOXO’s business; (ii) the ability to
implement FOXO’s business plans, forecasts, and other expectations;
(iii) the ability to obtain financing if needed; (iv) the ability
to maintain its NYSE American listing; (v) the risk that FOXO has a
history of losses and may not achieve or maintain profitability in
the future; (vi) potential inability of FOXO to establish or
maintain relationships required to advance its goals or to achieve
its commercialization and development plans; (vii) the
enforceability of FOXO’s intellectual property, including its
patents and the potential infringement on the intellectual property
rights of others; and (viii) the risk of downturns and a changing
regulatory landscape in the highly competitive biotechnology
industry or in the markets or industries in which FOXO’s
prospective customers operate. The foregoing list of factors is not
exhaustive. Readers should carefully consider the foregoing factors
and the other risks and uncertainties discussed in FOXO’s most
recent reports on Forms 10-K and 10-Q, particularly the “Risk
Factors” sections of those reports, and in other documents FOXO has
filed, or will file, with the SEC. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and FOXO assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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FOXO Technologies (AMEX:FOXO)
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FOXO Technologies (AMEX:FOXO)
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