Mindbio Therapeutics seeks to expand in South America

Executive Summary

• Mindbio Therapeutics Corp. has deployed a team of software engineers to Chile to collaborate with health and mining officials on developing a protocol for voice-based drug and alcohol screening.
• The company is leveraging its AI technology to address high rates of substance use in the South American mining industry, aiming to provide a scalable, non-invasive alternative to traditional testing methods.
• Management cites significant market potential, noting that over 75% of Chilean mining workers consume alcohol and nearly 40% are problem drinkers, creating a large addressable market for the company's voice analytics solution.

Key Details

• Deployment Location: The engineering team is initially deployed to Chile, with plans to expand more broadly across South America and globally.
• Technology Focus: Development of a voice analytics enterprise solution for intoxication detection using artificial intelligence.
• Target Industries: Initially focused on the mining industry, with potential applications in aviation and construction.
• Market Statistics (Chile):
  • Alcohol consumption among mining workers exceeds 75%.
  • Proportion of problem drinkers is above 40%.
  • Drug use is estimated in 9% of the more than 200,000 mining workers in the country.
• Market Statistics (International): 20 to 25% of all occupational accidents are directly or indirectly linked to substance use.
• Company Technology: The AI prediction model uses over 50 million data points to predict alcohol intoxication with high accuracy via voice analysis; the company is currently collecting data to expand the tool to other types of intoxication.

Notable Quotes

• "Mindbio is seizing its first mover advantage in voice activated AI digital health diagnostics by investing heavily to develop scalable solutions for workplace health and safety related to drug and alcohol intoxication. We are excited by the response we have received and look to provide a solution to the mining industry initially in Chile and then more broadly in South America and globally." — Justin Hanka, CEO