- Medibio (MEB) shares have jumped 14.3 per cent following the award of a patent for its method and system for assessing mental state
- The health tech company offers mental wellness solutions for businesses in Australia and the U.S. and develops products to serve healthcare providers
- The U.S. Patent and Trademark Office awarded the patent, which enriches Medibio’s intellectual property
- It applies to MEB’s computer-implemented method of assessing mental state via a sequence of heartbeat data samples collected over three sleep periods
- At present, the company is trailing its MEB-001 medical software, which is designed to identify depressive burden in patients suffering sleep disturbance
- Medibio shares are trading at 0.8 cents each
Medibio (MEB) shares have jumped 14.3 per cent after the health tech company was awarded a patent for its method and system for assessing mental state.
Headquartered in Melbourne, Medibio offers mental wellbeing solutions for businesses in Australia and the U.S. and develops products to serve the healthcare provider market.
The patent, which was granted by the U.S. Patent and Trademark Office, relates to MEB’s computer-implemented method of assessing a subject’s mental state via a sequence of heartbeat data samples collected during distinct pre-sleep, sleep and post-sleep periods.
Significantly, the patent enriches Medibio’s intellectual property and strengthens strategic protection across the company’s key commercial markets, including clinical, corporate and consumer.
At present, Medibio is conducting trials to validate its MEB-001 medical software, which is designed to identify depressive burden in patients suffering from sleep disturbance.
The software uses sleep algorithms, overlaid by overnight heart rate and heart-rate-variability algorithms to analyse depressive burden in patients.
Importantly, MEB considers misdiagnosis — due to subjective methodology— to as a significant barrier to effective care for patients suffering from depression.
The company is therefore focussed on combining its biological understanding of depression with advanced artificial intelligence and a deep learning algorithm methodology, to provide reliable, objective and evidence-based diagnostic tools.
On the market this afternoon, Medibio shares have jumped 14.3 per cent to trade at 0.8 cents at 1:29 pm AEST.