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In a wave of groundbreaking developments, Cardiol Therapeutics Inc. (Nasdaq: CRDL), Modular Medical, Inc. (Nasdaq: MODD), and Cyngn Inc. (Nasdaq: CYN) each report advancements that promise to reshape the pharmaceutical, medical, and industrial automation landscapes.
Cardiol Therapeutics Progresses Orphan Drug Designation for CardiolRx™
Cardiol Therapeutics (Nasdaq: CRDL) (TSX: CRDL), is advancing its CardiolRx™ drug candidate, which received Orphan Drug Designation (ODD) from the FDA for treating recurrent pericarditis, a rare inflammatory heart condition. This ODD status grants Cardiol Therapeutics advantages such as seven years of market exclusivity, tax credits, and fast-tracked reviews, positioning CardiolRx™ as a significant potential treatment in the cardiac space. Cardiol’s MAVERIC clinical trial program, along with additional research targeting heart failure and acute myocarditis, exemplifies its strategic path forward. With ODD in place, Cardiol Therapeutics is moving CardiolRx™ along an accelerated regulatory pathway, aiming to transform treatments for rare cardiac diseases.
Modular Medical’s Pre-Clinical Success with GLP-1 Weight Loss Therapy
Modular Medical (Nasdaq: MODD) recently reported promising results from a pre-clinical study exploring a pump-based GLP-1 delivery system designed to enhance weight loss and glucose control. By combining a mealtime bolus with basal GLP-1 delivery, Modular Medical (Nasdaq: MODD) achieved a 17% weight reduction over 28 days, demonstrating a 25% improvement over basal delivery alone. CEO Jeb Besser emphasized plans to bring the innovative basal-bolus concept to human trials using the MODD1 device. This technology, with its dosing flexibility, aims to provide a tailored solution for metabolic therapy patients, especially those with sensitivity to side effects of long-acting GLP-1s.
Cyngn Inc. Expands Industrial Autonomy with Advanced Computer Vision
Cyngn Inc. (Nasdaq: CYN), recognized for its autonomous vehicle solutions in industrial applications, recently announced advancements in its computer vision (CV) technology within the DriveMod system. Leveraging NVIDIA’s (NASDAQ: NVDA) accelerated computing and collaborating with notable partners like John Deere (NYSE: DE), DriveMod enhances industrial vehicle performance and intelligence. This technology is already deployed in material handling equipment from manufacturers such as BYD, Motrec, and Columbia Vehicle Group. A significant milestone in Cyngn’s journey is its collaboration with Arauco, which led to a pre-order of 100 DriveMod-enabled forklifts. These advanced forklifts are equipped with capabilities like counting pallet stacks and detecting non-standard pallet pockets, setting new efficiency standards for industrial automation.
As each company pioneers’ new frontiers in their respective fields, these advancements underscore the significant impact of innovation in healthcare, medical devices, and industrial automation, with far-reaching implications for patient care, personalized treatments, and efficient industrial operations.
Peraso Showcases 60 GHz Fixed Wireless Access for Urban Connectivity
Peraso Inc. (NASDAQ: PRSO), a leader in mmWave technology, will attend the 2024 AfricaTech Festival in Cape Town, South Africa, from November 11-14. Representing Canada at booth D2, Peraso aims to promote its 60 GHz Fixed Wireless Access (FWA) solutions designed for dense urban and rural settings. The technology offers high-speed, low-latency broadband connectivity, crucial for Africa’s digital transformation. CEO Ron Glibbery highlighted growing demand across Africa for reliable gigabit connectivity and anticipates strong interest from industry leaders. Peraso’s participation underscores its commitment to expanding digital access in underserved regions.