VANCOUVER, BC, Jan. 27, 2025 /CNW/ - Light AI Inc. (CBOE: ALGO) ("Light AI" or the "Company"), a global healthcare technology company focused on developing artificial intelligence health diagnostic and wellness applications, today announced the appointment of George Reznik to Chief Financial Officer ("CFO") and Corporate Secretary effective January 27, 2025.
"We are very excited to add George to our team and look forward to his strong leadership and experience at Light AI," says Peter Whitehead, President & CEO of Light AI. "George brings extensive financial and operational, technology and capital markets expertise with more than twenty-five years of experience in executive finance and operations leadership roles with high growth public technology companies. George's vision and deep expertise makes him an integral addition to our team to commercialize Light AI's solutions with a positive impact on global healthcare and wellness."
Mr. Reznik has extensive expertise in international corporate finance, strategic business planning, mergers and acquisitions, business restructuring and growth management, investor relations, and operational management. Mr. Reznik is formerly the CFO of Tantalus Systems, a clean technology company (TSX: GRID). Prior to joining Tantalus, Reznik was CFO and Corporate Secretary of Intrinsyc Technologies until its successful acquisition by Lantronix (Nasdaq: LTRX), CFO of DDS Wireless, CFO and COO of Infowave Software, and the Vice President of Finance at Pivotal Corporation where he played a leadership role through its IPO on the Nasdaq and its subsequent rapid business and revenue growth from US$10M to over US$140M over a three year period.
Mr. Reznik previously was the Corporate Finance Valuation Practice Leader of Deloitte based in Canada and the UK. Mr. Reznik is a Chartered Professional Accountant – Chartered Accountant (CPA, CA), a Chartered Business Valuator (CBV), a Certified Fraud Examiner (CFE) and holds a Bachelor of Commerce (Honors) degree from the University of Manitoba. He is the Chair of the BC Hi Tech CFO C-Council and was the recipient of the BC Public Company CFO of the Year award.
"The convergence of artificial intelligence (AI) and precision medicine promises to revolutionize health care" states George Reznik. "Light AI has made tremendous progress on its mission to optimize and enhance healthcare and wellness. I am excited to join Light AI as it addresses the large emerging market opportunity presented by the convergence of AI and healthcare while making a positive global societal impact."
About Light AI Inc. (CBOE: ALGO)
Light AI Inc. is a healthcare company focused on developing artificial intelligence health diagnostic applications. Light AI is developing a technology platform which represents the next generation of patient management: it applies AI algorithms to smartphone images—starting with images of StrepA—to identify the disease in seconds. Its patented, app-based solution requires no swabs, lab tests or proprietary hardware of any kind—its hardware platform is the 4.5B smartphones that exist in the world today.
In pre-FDA validation studies, Light AI's algorithm demonstrated remarkable accuracy in differentiating between viral and bacterial pharyngitis, specifically targeting Group A Streptococcus (GAS). The algorithm achieved an accuracy rate of over 96%, with a 97% accuracy rate that is comparable to the "Gold Standard" swab culture currently used for diagnosing GAS. Furthermore, the algorithm attained a Negative Predictive Value (NPV) of 100%, indicating its high reliability in confirming the absence of Streptococcus A infection. Viral and GAS pharyngitis affects over 600 million people annually worldwide. If left untreated, GAS pharyngitis can lead to serious complications such as Rheumatic Heart Disease (RHD), which imposes a global economic burden exceeding $1 trillion annually. Light AI's technology offers a significant advancement in the accurate and timely diagnosis of GAS pharyngitis, potentially reducing the incidence of RHD and its associated costs. Light AI's approach to applying AI to smartphone images can be expanded to other throat conditions, as well as other areas of analysis, such as the human eye and skin. Light AI's vision is to combine the smartphone with AI in-the-Cloud to create a Digital Clinical Lab that provides quick and accessible diagnosis for countless conditions that today require expensive and time-consuming imaging or lab processes. For more information, please visit: https://light.ai/
Forward-Looking Information:
This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the contributions to be made by George Reznik, the anticipated inflection of the business, the opportunity related to the commercialization of Light AI's software and other offerings, and other statements that contain words such as "believe," "expect," "project," "should," "seek," "anticipate," "will," "intend," "positioned," "risk," "plan," "may," "estimate" or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release and Light AI disclaims any intention or obligation to update or revise any forward-looking information contained in this new release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this news release is expressly qualified in its entirety by this cautionary statement.
