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 continuing progress in the development of DeepView SnapShot® M, a handheld diagnostic tool targeted for use in battlefield burn assessment that is based on the Company’s AI-driven DeepView™ System platform.

Burn wounds account for a significant portion of combat-related injuries, often resulting from explosive device detonation, penetrating injuries or other trauma. However, the availability of burn wound assessment and treatment expertise is often lacking in a battlefield setting.

DeepView SnapShot M® is designed to be an integral part of the battlefield triage process by providing a quick and accurate wound assessment so that those with more severe burn injuries can be prioritized for evacuation. Spectral AI’s research and development team has continued to refine the device and is developing features necessary for military use. Among these refinements is the miniaturization of the device’s five cameras which have retained their ability to capture the same depth of wavelength as the Company’s cart-based DeepView™ System with no trade off in tolerance or accuracy. Image capture time remains less than one second and the device’s cameras were optimized to reduce unwanted light, a challenge that is present when imaging patients in a field-based setting rather than a clinically controlled environment.

“Successful burn wound management is essential to patient survival, and this need is magnified in the battlefield setting,” said Peter M. Carlson, Chief Executive Officer of Spectral AI. “Developing technology that can support our nation’s armed forces is a matter of much personal and professional pride for all of us at Spectral AI, and we are honored to be a part of a select group of companies pursuing that objective. We are continuing to advance the evolution of this proprietary AI-driven burn wound assessment technology, and believe that its potential applications can extend beyond military use to serve our first responders and other healthcare providers.”

The Company also announced that an abstract titled, “Advancing Combat Burn Assessment of DeepView’s Handheld Device for Military Field Use” has been accepted for a poster presentation at the upcoming 2024 Military Health System Research Symposium (MHSRS) being held on August 26-29, 2024.

The Department of Defense’s foremost scientific meeting, the MHSRS is a joint symposium that provides a collaborative environment for presenting new scientific knowledge resulting from military-unique research and development.

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