MDAI Spectral AI Inc

Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced a 30% increase in its patent portfolio that strengthens and protects its proprietary, AI-driven DeepView System wound assessment platform.

Total patents granted to the Company increased to 26 through July 8, 2024 from 20 at December 31, 2023, consisting of 12 U.S. and 14 international patents. These patents cover various aspects of the Company’s DeepView System platform, including, but not limited to, tissue classification based on multi-spectral imaging, machine learning and healthcare metrics, wound assessments based on multi-spectral imaging, optical biomarkers, machine learning and high precision imaging with multiplexed illumination.

The Company continues to protect its data and processes with an additional 38 pending patent applications worldwide, consisting of seven pending U.S. patents and 31 pending international patents. The patents encompass nine distinct patent families.

“These newly granted patents highlight the novel nature of our DeepView System platform and its ability to deliver an immediate, objective, and grounded assessment of a wound’s healing potential,” said Peter M. Carslon, Chief Executive Officer. “The DeepView System platform reflects years of significant investment in product development and our team is continuing to enhance the underlying technology. Together with our trademarks and trade secrets, these intellectual property assets are keys to our success and will serve as a foundation for our planned product commercialization initiatives set to commence in late 2024 and continuing through 2026.”

“We remain diligent in protecting and enhancing our proprietary technologies,” said Erich Spangenberg, Spectral AI board member, a globally recognized IP expert, and the Company’s largest shareholder. “I am actively engaged in supporting management as it builds and maintains a world-class moat around these critical assets.”

About Spectral AI

Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns and diabetic foot ulcers. The Company is working to revolutionize the management of wound care by “Seeing the Unknown®” with its DeepView System. The DeepView System is a predictive device that offers clinicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal to change the current standard of care, the DeepView System is expected to provide faster and more accurate treatment insight towards value care by improving patient outcomes and reducing healthcare costs. For more information about the DeepView System, visit www.spectral-ai.com. 

Forward Looking Statements Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s strategy, plans, objectives, initiatives and financial outlook. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. 

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, readers are cautioned not to place undue reliance on any forward-looking statements. 

Investors should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s filings with the SEC, including the Registration Statement and the other documents filed by the Company. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. 

Investors: The Equity Group Devin Sullivan Managing Director dsullivan@equityny.com 

Conor Rodriguez Analyst crodriguez@equityny.com