Cloudscreen

CHICAGO, IL / ACCESSWIRE / January 23, 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 that it has successfully completed the acquisition of Cloudscreen®, a cutting-edge Artificial Intelligence (AI) powered platform. The acquisition is pursuant to the purchase agreement announced on October 11, 2023. Cloudscreen is a multimodal platform specialized in drug repurposing, a process that involves uncovering new target proteins or indications for existing drugs for use in treating different diseases. The platform focuses on identifying new therapeutic uses for drugs that have already been tested for safety and efficacy. This approach also includes the exploration of abandoned drugs for potential application in treating different diseases, thereby broadening the scope of possibilities in finding effective treatments through repurposed pharmaceuticals. Cloudscreen integrates 1D and 3D data into an AI algorithm, which comprehensively interrogates the druggable proteome (the complete set of proteins) and variome (the whole set of genetic variations), to provide accurate predictions for existing drugs towards new indications. The platform is complemented with real time validation towards effectiveness and toxicity predictions. Cloudscreen Engine: Drug repositioning AI algorithm based on 3D & 1D structural information of drug targets. Repurposed discoveries offer several advantages compared to traditional drug development, including higher success rates of 1/10 versus 1/1000 for traditional discovery. Additionally, these discoveries benefit from heightened safety profiles and significantly shorter impact times, ranging from 2-5 years as opposed to the 10-15 years in traditional drug development, all while being substantially more cost-effective, with expenses of around $5 million on average compared to over $1.5 billion on average in traditional methods. Cloudscreen is committed to disrupting the field of drug repurposing by addressing the significant limitations of current methodologies. Traditional approaches in this domain have predominantly relied on textual data and faced the challenge of limited protein structural information, covering only about 20% of the Proteome. This often results in contradictory information within the extensive big data sets. Cloudscreen's strategy involves the integration of 3D structural information to provide a more accurate molecular level focus, transcending the limitations of textual data. The company is also dedicated to expanding its database to include 100% of the Proteome space, thereby filling a critical gap in protein structural information. Additionally, Cloudscreen employs advanced Machine Learning (ML) algorithms to enhance the reliability and confidence in its predictive models, offering a more sophisticated and dependable solution in drug repurposing. From 2024 to 2029, Cloudscreen is strategically focusing on developing repurposed drugs in five key therapeutic areas: obesity, rare diseases, infectious diseases, cancer, and autoimmune diseases. This ambitious initiative will be executed through a series of meticulously planned steps. It begins with simultaneous platform upgrades and active pharmaceutical ingredients (APIs) selection during 2024-2025, with API selection extending into 2026. In parallel, from 2024 to 2028, the development and utilization of AI-powered predictions will play a crucial role in identifying potential drug repurposing opportunities in these specific areas. To ensure the validity and applicability of these AI insights, expert validation will be conducted concurrently until 2029. This phase will be complemented by experimental validation from 2025 to 2029, where the theoretical predictions will be tested in practical scenarios. The final step in this comprehensive process is the preparation and filing of patents from 2025 to 2029, securing the intellectual property rights for the innovative therapeutic uses discovered. This holistic approach integrates advanced technology and expert knowledge to revolutionize drug repurposing in these critical areas of healthcare. The global drug repurposing market is experiencing significant growth, with MarketWatch projecting its value to reach $30.6 billion by 2028, of which $10 billion relates to the EU market. This growth is being fueled by advances in computational power and the emergence of new approaches such as AI and Machine Learning, which are enabling more cost-effective solutions for drug repurposing. In the U.S. drug discovery market, ΑΙ is most commonly applied for drug optimization and repurposing, as depicted in the accompanying graph. Cloudscreen's founders and its senior scientific team will continue to lead the research and execution of new drug repurposing projects. Each project has the potential to lead to patent filing upon successful completion of the in vitro validation. Greg Siokas, Chief Executive Officer of Cosmos Health, stated: "Today marks another significant milestone in our ongoing transformation into a full-fledged pharmaceutical company. Drug repurposing has emerged as a key strategy for pharmaceutical companies to fuel innovation and growth. Through the acquisition of Cloudscreen, Cosmos is not just investing in drug repurposing but also, in particular, in its AI-powered applications. This strategic move positions Cosmos to potentially capture a larger share of the lucrative multi-billion dollar global drug repurposing market. "Cloudscreen has already demonstrated impressive results. For instance, we recently announced the acquisition of rights arising from a patent for addressing certain central nervous system (CNS) cancers. This patent was made possible by Cloudscreen's AI drug repurposing platform. We anticipate carrying out multiple repurposing projects over the coming years. "Moreover, sharing their confidence in our vision, as well as our belief that our share price is undervalued, Cloudscreen's founders have agreed to accept Cosmos stock at a price well above the current share price. Going forward, we plan to capitalize on Cloudscreen's momentum, which will further advance and accelerate our ambitious R&D aspirations. This brings us closer to our goal of spinning off our R&D division into a standalone, publicly listed biotech company, which we believe will unlock significant value for our shareholders. Overall, this represents a transformative moment for Cosmos that introduces a new dimension and source of value.

Cosmos Health Inc. announces acquisition of Cloudscreen®, an AI-powered platform for drug repurposing. Cloudscreen® is a multimodal platform for drug repositioning and repurposing. It integrates both 1D and 3D data types into its AI algorithm, which thoroughly analyzes the druggable proteome and variome, offering accurate predictions for repurposing of existing drugs toward new indications. The platform is accompanied by validation for both toxicity and effectiveness. The planned acquisition of Cloudscreen® encompasses the software, its registered trademark, and associated know-how. The founders of Cloudscreen® and its senior scientific team would continue to lead and manage the research, initiation, and execution of new drug repurposing projects. As a starting point, Cloudscreen's team is anticipated to undertake five repurposing projects, with the potential for each project to lead to patent filing upon successful completion of the in vitro validation phase. According to MarketWatch, the global drug repurposing market size is anticipated to reach USD 30.1 billion by 2028, up from USD 24.5 billion in 2021, reflecting a CAGR of 2.9% over the 2022-2028 period. Drug repurposing, often referred to as re-profiling, is the process of identifying new therapeutic applications for approved and marketed drugs that have already been through safety and efficacy testing, and has emerged as a key strategy by the vast majority of pharmaceutical and biopharmaceutical companies to fuel significant business expansion. Notably, between 2007 and 2009, 30-40% of all biologics approved in the U.S. were either repurposed or repositioned drugs. Finding new therapeutic applications for previously researched drugs can offer patients quicker access to novel treatments. Such a strategy not only benefits developers by reducing time and costs but also retains the original IP protection. Especially for high-cost conditions like cancer, exploring anti-cancer potentials in a vast array of off-patent drugs, which have already established their safety profiles, is a powerful tactic preferred by most leading pharmaceutical enterprises. The total investment is expected to exceed $5 million through 2029. This amount includes an initial purchase price of approximately $1 million: €300,000 in cash and a stock consideration valued at $700,000, based on an issuance price of $2.50 per share. Additionally, there will be an ongoing annual investment of €400,000 for the initiation of repurposing projects, along with the recruitment of key scientific and technical personnel. Greg Siokas, Chief Executive Officer of Cosmos Health, stated: "Today is a great day for Cosmos, a transformative moment propelling us to unprecedented levels and new groundbreaking territories. Cloudscreen is a revolutionary, cutting-edge platform that has already demonstrated impressive results. Drug repurposing is the future, and so is artificial intelligence. By bringing them together, as well as recruiting a team of top-notch scientists and engineers, we're positioning ourselves to effectively tap into the lucrative, multi-billion dollar global drug repurposing market. In fact, we foresee our successful repurposing projects producing a tremendous return on our investment, generating value in the billions of dollars. This is an inflection point for our Company and the industry at large, creating a new dimension and new source of value. Moreover, as a testament to our prudent capital allocation strategy, Cloudscreen's founders, who will remain onboard, have agreed to accept Cosmos stock as the primary component of the acquisition price, at a price well above the current share price, reflecting their confidence in our vision and direction. We intend to build upon Cloudscreen's momentum and turn it into a leading powerhouse. This move marks a game-changing direction for Cosmos, a new important chapter in our story. In short, this is a big moment!" Minos Matsoukas, Co-Founder of Cloudscreen, stated: "We are delighted to become a part of Cosmos. Cloudscreen is truly unique, capitalizing on the hottest trends in AI and drug repurposing. Our groundbreaking technology has been thoroughly validated. We have already embarked on our first repurposing project, which is patent-pending, and have several more in the pipeline. We anticipate that each successful project will generate tremendous value. We look forward to accelerating our efforts and share a common vision with Greg Siokas and the Cosmos team. Cloudscreen is well-positioned to become a market leading technology in the field of drug repurposing.