FOXO Technologies Unveils Plans for New Direct-to Consumer Offering Combining the Company’s Epigenetic Data with the Power of AI
Announces Collaboration and Secures Exclusive License with KR8.ai to Power New Epigenetic Wellness Solutions
MINNEAPOLIS, October 30, 2023--(BUSINESS WIRE)--FOXO Technologies Inc. (NYSE American: FOXO) ("FOXO" or the "Company"), a leader in the field of commercializing epigenetic biomarker technology, today announced plans for a new subscription-based, direct-to-consumer product offering that will provide personalized health and wellness recommendations, by combining: (i) FOXO’s machine learning models to analyze epigenetic biomarkers; (ii) the Company’s expertise and algorithms correlating epigenetic analysis with health outcomes; and (iii) published, peer-reviewed, clinical data and other verified, third-party health resources. In connection with the new offering, the Company also announced it has formed a collaboration with KR8.ai Inc. ("KR8") and secured an exclusive license to KR8’s AI-based software to support the development and commercial launch of the new health and wellness offering.
Mark White, Interim CEO of FOXO Technologies, stated, "We are excited to formally unveil plans for our new direct-to-consumer offering. This strategy is designed to leverage our epigenetic data and analytics, which we believe reflects our core strength and includes some of the most advanced capabilities in the industry. Epigenetics is central to understanding how genes are regulated and how lifestyle and environmental influences interact with our biological systems. Fully unlocking the value of epigenetic data has been a challenge due to complexities in data processing and interpretation. By integrating KR8’s advanced AI software, we intend to launch a best-in-class health and wellness offering, including a new consumer app, which will provide individuals with personalized insights to understand their biological age and optimize health. Getting started would simply require users to send a saliva or blood sample and the technology will then combine this information with user health stats, from readily available sources and third-party apps. Moreover, we intend to combine these inputs, through the power of AI, with massive health data sets, such as peer-reviewed clinical studies and other verified health resources, to provide a comprehensive risk analysis and actionable health insights. By leveraging the KR8 software with FOXO’s epigenetic expertise and growing patent estate, we look forward to empowering consumers to better manage their own health."
"To enhance our commercial launch, we look forward to integrating KR8’s AI-driven analytic software and proprietary algorithms to cost-effectively drive social media campaigns, as well as leverage their broad network of social media influencers with a goal of rapidly scaling FOXO’s new direct-to-consumer offering. They have a proven track record working with leading brands, and I truly believe they are the ideal partner for this new endeavor. According to Verified Market Research, the Health and Fitness App Market size was valued at $8.2 billion in 2022 and is projected to reach $35.7 billion by 2030. We believe we are well positioned to capture a meaningful share of this market through an unparalleled offering that goes way beyond traditional health apps, coupled with a cost-effective go-to-market strategy. We look forward to providing regular updates on our progress in the weeks and months ahead, including the product branding, integration with other health apps, launch dates and much more," concluded Mr. White.
Spencer Cliff Christopher, Founder and Chief Technology Officer of KR8, stated, "We are thrilled to announce our strategic partnership with FOXO, an exemplary leader within the epigenetic domain. The integration of KR8’s robust artificial intelligence capabilities with FOXO’s unparalleled expertise in genetics is poised to redefine the standards of wellness coaching. This collaboration underscores our unwavering dedication to innovation and our commitment to empowering individuals with personalized, data-driven insights for their health and well-being. As we embark on this exciting venture, we are confident that this synergy of genetic insight and precision AI will establish a new standard in personalized wellness, offering users an unmatched level of guidance and support. We look forward to not just using AI as a tool, but as a companion in people's health journey."
About KR8.ai
KR8.ai harnesses the power of AI-driven analytics to optimize social media accounts’ current performance against their full potential.. Their premier mobile application, aptly named 'the KR8 Coach', provides a comprehensive evaluation of an account’s current performance against their full potential. Based on this analysis, it then offers intelligent, AI-derived suggestions to amplify the reach and effectiveness of their posts. Beyond this, KR8 AI's innovative solutions are adaptable and can seamlessly be integrated into third-party, direct-to-consumer applications. This adaptability not only streamlines processes but also results in more economically efficient technology implementations.
About FOXO Technologies Inc. ("FOXO")
FOXO, a technology platform company, is a leader in epigenetic biomarker discovery and commercialization focused on commercializing longevity science through products and services that serve multiple industries. FOXO's epigenetic technology applies AI to DNA methylation to identify molecular biomarkers of human health and aging. For more information about FOXO, visit www.foxotechnologies.com. For investor information and updates, visit https://foxotechnologies.com/investors/.
Forward-Looking Statements
This press release contains certain forward-looking statements for purposes of the "safe harbor" provisions under the United States Private Securities Litigation Reform Act of 1995. Any statements other than statements of historical fact contained herein, including statements as to future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of FOXO, market size and growth opportunities, competitive position, and technological and market trends, are forward-looking statements. Such forward-looking statements include, but not limited to, expectations, hopes, beliefs, intentions, plans, prospects, financial results or strategies regarding FOXO; the future financial condition and performance of FOXO and the products and markets and expected future performance and market opportunities of FOXO. These forward-looking statements generally are identified by the words "anticipate," "believe," "could," "expect," "estimate," "future," "intend," "strategy," "may," "might," "strategy," "opportunity," "plan," project," "possible," "potential," "project," "predict," "scales," "representative of," "valuation," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk of changes in the competitive and highly regulated industries in which FOXO operates, variations in operating performance across competitors or changes in laws and regulations affecting FOXO’s business; (ii) the ability to implement FOXO’s business plans, forecasts, and other expectations; (iii) the ability to obtain financing if needed; (iv) the ability to maintain its NYSE American listing; (v) the risk that FOXO has a history of losses and may not achieve or maintain profitability in the future; (vi) potential inability of FOXO to establish or maintain relationships required to advance its goals or to achieve its commercialization and development plans; (vii) the enforceability of FOXO’s intellectual property, including its patents and the potential infringement on the intellectual property rights of others; and (viii) the risk of downturns and a changing regulatory landscape in the highly competitive biotechnology industry or in the markets or industries in which FOXO’s prospective customers operate. The foregoing list of factors is not exhaustive. Readers should carefully consider the foregoing factors and the other risks and uncertainties discussed in FOXO’s most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports, and in other documents FOXO has filed, or will file, with the SEC. 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. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FOXO assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
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