Quantum eMotion Signs a Commercial Agreement with Greybox
First application of the Sentry-Q platform to the Digital Therapeutics market
Montreal, Quebec--(Newsfile Corp. - February 7, 2023) - Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) (FSE: 34Q) ("QeM" or the "Company") announced today a broad commercial and technical Agreement with Greybox Solutions, of Montreal. This partnership will enable Greybox's Digital Therapeutic product to take advantage of QeM's Quantum-Safe cryptographic platform.
Digital Therapeutics refers to the use of technology-driven solutions, such as mobile apps, wearable devices, and telemedicine, to deliver evidence-based interventions for the prevention, management, and treatment of various medical conditions. It aims to enhance patient outcomes by leveraging the benefits of technology such as patient health records convenience, accessibility, and real-time monitoring and feedback.
Strong Cybersecurity protection is crucial in Digital Therapeutics as cybercriminals often consider patient health records as one of their main targets. According to various reports, data breaches affecting the healthcare industry have been on the rise in recent years, and millions of patient records have been compromised. The impact of these breaches can be severe, both for the individuals whose personal and sensitive information has been stolen, as well as for the organizations responsible for securing that data.
Digital Therapeutics is the corner stone of the telemedicine market that is rapidly growing due to the increasing adoption of virtual healthcare solutions amid the COVID-19 pandemic. The market is expected to reach USD 191.9 billion by 2026, growing at a CAGR of 18.0% from 2020 to 2026. Factors driving growth include the increasing use of telemedicine for remote patient monitoring, growing demand for home healthcare, and advancements in technology.
Montreal-based Greybox Solutions Inc. is establishing itself as one of the world leaders in this space. Already present in Quebec, the Company is accelerating its commercial activities in Germany to provide effective care for patients with heart failure and other conditions such as diabetes, mental health, and other complex chronic conditions.
The agreement establishes QeM as Greybox's cybersecurity partner and this collaboration will integrate and promote QeM's cybersecurity technology with Greybox's TakeCareTM product, helping health professionals and patients manage their treatment plan at home to reduce hospital readmissions and improve health outcomes.
Francis Bellido, CEO of QeM, commented: "QeM is thrilled to announce this commercial partnership with Greybox . We are accelerating the integration of quantum-safe cybersecurity solutions like Sentry-Q into Greybox products and meet the necessary standards to comply with DIGA, MDR IIa, and CE regulatory processes. The final step to activate prescription and reimbursement of the integrated product in Germany is planned for Q3 2023."
"We are proud to take the final major step in commercializing a safe, certified, and validated digital technology to enhance patient-centered care. Our TakeCareTM platform has the potential to positively change the way we provide care for patients with serious chronic conditions. Our goal is to improve health, reduce hospital readmissions and make better use of healthcare resources. The agreement with QeM will help us achieve these goals and accelerate many other partnerships" added Pierre Bérubé, CEO and Founder of Greybox Solutions Inc.
About Greybox Solutions:
Greybox Solutions is a growing Montreal-based health technology company specializing in innovative software development to improve patients' lives. Its mission is to find digital transformation solutions to address healthcare system challenges and reduce the burden of managing chronic illnesses. Greybox distributes its digital health platform, TakeCareTM, to redefine the relationship between patients and their healthcare team.
The Company's mission is to address the growing demand for affordable hardware security for connected devices. The patented solution for a Quantum Random Number Generator exploits the built-in unpredictability of quantum mechanics and promises to provide enhanced security for protecting high value assets and critical systems.
The Company intends to target the highly valued Financial Services, Healthcare, Blockchain Applications, Cloud-Based IT Security Infrastructure, Classified Government Networks and Communication Systems, Secure Device Keying (IOT, Automotive, Consumer Electronics) and Quantum Cryptography.
For further information, please contact:
Francis Bellido, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Corporation's periodic reports including the annual report or in the filings made by Quantum from time to time with securities regulatory authorities.
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