With the number of Americans 65 and older projected to outnumber children for the first time in U.S. history by 2030—census estimates show all baby boomers will be older than 65 then, expanding the size of the older population to 78 million—healthy aging is ever more important. And the Centers for Disease Control and Prevention, meanwhile, lists mental health among its key indicators of health and well-being.
Seeing the opportunity, Mynd Analytics Inc. (Nasdaq: MYND) has launched a behavioral health program through wholly-owned subsidiary Arcadian Telepsychiatry Services LLC to provide patients of skilled nursing and assisted living facilities access to telepsychiatry, teletherapy and other mental health services using video conferencing equipment.
The Mission Viejo-based predictive analytics company’s Psychiatric EEG Evaluation Registry, or PEER Online, allows medical professionals to exchange patient treatment outcome data. Information is based on a standard electroencephalogram test of brain activity. The tool is designed to help doctors better match patients with medication. Its market cap is nearly $8 million.
In November it acquired Arcadian, which manages telepsychiatry and telebehavioral services through a nationwide network of licensed and credentialed psychiatrists, psychologists and master’s-level therapists.
It launched the program last month at Bayside Health and Rehabilitation in Florida. The 120-bed skilled nursing facility is a subsidiary of Pensacola, Fla.-based Gulf Coast Health Care, which operates 42 skilled nursing and assisted living facilities throughout Florida and Mississippi. It employs over 6,000.
Arcadian Chief Executive Robert Plotkin said the company hopes to roll out the program across the Gulf Coast’s entire network. “Our telebehavioral health services are ideally suited for patients within both skilled nursing and assisted living centers, as this population often lacks access to mental health services due to both a shortage of mental health providers, as well as the difficulties the elderly and disabled often face traveling to appointments.”
Mynd Chief Executive George Carpenter said the company plans to combine its telemedicine platform with its PEER report to “reduce trial and error.”
Evolus Drug Slowed
Evolus Inc. (Nasdaq: EOLS) recently resubmitted a drug application for lead product candidate DWP-450 to the Food and Drug Administration after getting a letter from the FDA in May requesting additional data. Deficiencies the FDA cited “were isolated to items related to chemistry, manufacturing and controls processes” and are unrelated to “clinical, non-clinical or safety matters,” according to a company press release.
DWP-450 is a Type A neurotoxin developed by Daewoong Pharmaceutical Co. for which Evolus is seeking approval to treat frown lines. It produces similar cosmetic effects to Botox’s.
Chief Executive David Moatazedi said the company resubmitted its request well ahead of a guided 90-day timeline. “We look forward to receiving notice next month of the FDA’s acceptance of our resubmission and the assignment of a new FDA action date,” he said. It plans to commercially launch the product next spring.
The Irvine-based medical aesthetics company has a $552 million market cap.
Aerie Pharmaceuticals Inc. (Nasdaq: AERI) announced it received early notification from the FDA of glaucoma drug Roclatan and that it anticipates getting approval in March, about a month ahead of its projected schedule.
“If approved, we expect to be fully prepared to launch Roclatan using our existing sales force, which is already making excellent progress in the early months of our Rhopressa launch,” said Chief Executive Vicente Anido.
The ophthalmic pharmaceutical company has two glaucoma drugs, Rhopressa and Roclatan. The former received FDA approval in December.
The longtime Irvine-based company moved its headquarters in March to Durham, N.C. It continues to maintain significant local operations, including sales and marketing. Its market cap is $2.5 billion.
AI Medicine
The University of California-Irvine and the UCI Health System recently opened the UCI Center for Artificial Intelligence in Diagnostic Medicine.
“Our goal is to empower health care providers, researchers and patients through the use of artificial intelligence in healthcare,” said Peter Chang, neuroradiologist in the medical school’s department of radiological sciences. He and fellow Daniel Chow led the initiative.
The center will serve as a central research hub enabling faculty, doctors and researchers to collaborate and develop AI-based clinical tools, a goal reflected in research by Chang, Chow and colleagues.
Chang was recognized in June by the American Society of Neuroradiology for his work in developing a customized deep-learning system with more than 97% accuracy in near-real-time detection and quantification of brain bleeds. The system was applied to more than 10,000 imaging exams at UCI Health and is being prepared for clinical use in the UCI Medical Center emergency department.
