FOXO Technologies Inc. (NYSEAM:FOXO) announced it has completed its strategic review, following recent management changes, and provided a business update on the Company?s progress and plans. Mark White, Interim Chief Executive Officer of FOXO Technologies, stated, ?Since taking the helm just over a month ago, FOXO?s new management team has initiated a significant restructuring of the business, including rationalizing costs across the organization while settling outstanding commercial issues. In particular, we have reduced headcount expenses by approximately 65% and have begun the process of divesting certain assets within FOXO Life, the former business-to-business, agency-focused model, which is expected to further reduce our operating expenses and burn rate going forward.

Most importantly, we are leveraging new artificial intelligence (AI) technologies to both enhance our efficiency, as well as cost-effectively drive our new direct-to-consumer (DTC) go-to-market strategy. This includes our new subscription-based app under development that will utilize existing health and wellness analytic tools, as well as leverage AI, machine learning and epigenetic data, to enhance health, wellness, and longevity.? ?Most recently we were granted an Issue Notification and Notice of Allowance from the United States Patent & Trademark Office (USPTO) for two key patents, respectively.

The first patent leverages an AI and machine learning model to enable the commercialization of epigenetic biomarkers, while the second patent leverages AI and machine learning to estimate aspects of an individual?s health. We plan to integrate these technologies into our new consumer-focused health and wellness offering, by providing critical epigenetic information to individuals, thereby enhancing their ability to make more informed health decisions through advanced diagnostics, therapeutic solutions, and lifestyle modifications. I truly believe the future of medicine lies in preventative care, and the only way to take ownership of one?s own health is to be fully informed about the potential risk factors that could impact longevity and overall well-being.

We believe our Bioinformatics Services offering, a suite of bioinformatic tools to help process, analyze, and interpret epigenetic data, has the potential to save countless lives and improve the quality of life for millions.? ?Despite some of the legacy challenges, FOXO has a rich patent estate with extensive epigenetic data on thousands of individuals, as a result of internally sponsored research and external research collaborations. We look forward to leveraging this powerful data and our advanced AI capabilities, with the goal of establishing FOXO as the foremost leader in the emerging field of epigenetic health data.

Overall, we believe we have built a highly scalable business model, and we look forward to unveiling new initiatives that will enable us to further leverage AI, coupled with an influencer model, to rapidly and cost-effectively drive uptake of our new DTC offering".