Dear Shareholders,
As we close out our first year as a publicly-traded company, your team at
At the core of our evidence-based health platform is an architecture that puts the individual in control of their mental health. Our personalized insight system helps people identify alternative natural remedies for common conditions and optimizations for the mind and body. Users can also connect online with a circle of trusted health practitioners, such as medical doctors, naturopaths, therapists, herbalists and nutritionists.
Mental Health
The rise of mental health challenges from the COVID-19 pandemic cannot be overstated. In 2022, we continued to see the traditional medical community grappling to meet the growing demand for services to help individuals deal with general mood conditions, such as anxiety and depression. Pharmaceutical drugs and conventional medicine play an important role, however, there are evidence-based alternatives that are therapeutically beneficial as well. There is significant consumer interest in therapeutic healing options, such as plant-based natural remedies, psychotherapy, behavioural conditioning tools and educational self-guided programs with consumer-friendly technology.
Investments in the behavioural health industry in 2021 were at a record high, and investments this year are on track to be the second highest on record. From Amazon’s
Natural Solutions
While mental health conditions are on the rise, there is also increasing consumer interest in natural remedies as an alternative to pharmaceutical drug treatments. Health-conscious consumers in the West are gaining greater exposure to affordable and accessible herbal remedies used in centuries-old therapeutic practices, such as Ayurvedic Medicine and Traditional Chinese Medicine. Health regulators, such as
Global food and drug companies continued to invest in the natural remedy industry this year, as demonstrated by Nestle’s majority stake investment in Orgain, a
Personalized Medicine
Finding the right natural remedy treatments for mental health conditions has its challenges, given the uniqueness of each individual. The field of personalized or precision medicine seeks to tailor treatments that take into account differences in people’s genes, environments, and lifestyles. While pharmacogenomics may help identify the right pharmaceutical drug to work well for a person’s unique DNA, nutrigenomics can show how an individual’s genetic makeup may affect whether a particular food benefits health and wellness.
With last year’s acquisition by 23andMe of telehealth platform company
Product Suite
Given the rise in mental health conditions and the interest in natural and alternative treatments, we believe there is a significant market opportunity for a self-care platform that helps people find the right natural remedy for their particular mental health condition. Our PanGenomic platform has been designed to generate revenue from individual or bundled products through a combination of subscription-based pricing and one-time fees.
Our consumer app Nara and accompanying nara.care website curate natural remedies for individuals, and users will be charged subscription fees to access premium content. Our clinical decision support platform PlantGx helps track the efficacy of treatment programs using our proprietary biomarker panel, aiding health practitioners to optimize regimens for better patient outcomes. Health practitioners will be charged for access to premium content and diagnostic tests through subscription and one-time fees. Both of our Nara and PlantGx products leverage genetic test results from 23andMe and Ancestry consumer DNA tests.
With our recent acquisition of
As one of
Finally, we wish to thank all of our shareholders for their valued support of our mission to help people with their mental wellness journeys.
Regards,
Maryam Marissen
President & CEO
CEO,
About
This news release includes certain statements that may be deemed “forward-looking statements”, including statements respecting the services to be provided by PanGenomic and the consideration to be paid to PanGenomic. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward looking statements. Although PanGenomic believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because PanGenomic can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in PanGenomic’s disclosure documents which can be found under PanGenomic’s profile on www.sedar.com.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
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