CHICAGO, IL / ACCESSWIRE / March 21, 2024 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today the initiation of the development of Cloudscreen 2.0, the new iteration of its groundbreaking Artificial Intelligence (AI) drug repurposing platform.
As previously announced, on January 23, 2024, Cosmos Health completed the acquisition of Cloudscreen. Building on the success of its predecessor, Cloudscreen 2.0 represents a significant leap forward in computational predictions for drug repurposing, aiming to unlock unknown actions of existing drugs on the market.
With the integration of cutting-edge AI and machine learning technologies, Cloudscreen 2.0 builds on successful drug-protein interaction prediction algorithms, using advanced deep learning models and graph embedding techniques. It aims to predict interactions across the human proteome's complete structural landscape. Furthermore, mutagenesis data for specific populations or diseases will be integrated, along with prediction tools for disordered proteins, which have emerged as significant players in several disease phenotypes.
Significant improvements in prediction methods are expected to result from utilizing datasets of chemical and biological data that are over 100 times larger than those used in the original platform, with the goal of creating more robust predictions and achieving higher confidence scores. The updated planned infrastructure, in addition to Graphics Processing Unit (GPU) cloud services, will enable the scaling up to such amounts of data with updated prediction capabilities, setting a new standard for AI approaches in drug repurposing.
The integration of AI not only accelerates the identification of new therapeutic uses for existing drugs, but also enhances our current comprehension of the molecular underpinnings of drug action and disease mechanisms.
Greg Siokas, Chief Executive Officer of Cosmos Health, stated: "We are extremely excited to launch Cloudscreen 2.0, which elevates our R&D efforts to new heights. By integrating AI and machine learning technologies with drug repurposing, we are confident that we possess the necessary tools to maximize the likelihood of success in new discoveries, patents, and product launches. Consequently, positive outcomes from Cloudscreen 2.0 could have a game-changing impact on Cosmos."
About Cosmos Health Inc.
Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe® and C-Sept®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency, it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com, www.skypremiumlife.com, www.cana.gr, www.cloudscreen.gr, and www.zipdoctor.co, as well as LinkedIn and X.
Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
BDG Communications
cosm@bdgcommunications.com
+44 207 0971 653
SOURCE: Cosmos Health Inc.
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