Our client Qlife is a high-tech medical device company that seeks to revolutionize clinical biomarker testing through a low-cost, decentralized, easy to use solution – taking testing out of the lab and into homes or other remote places where people need it the most. QLife recently underwent IPO and is now listed on Nasdaq First North Growth Market in Sweden.
The company has already come far in developing its EGOO Health System as an integrated platform consisting of a compact diagnostics device and a scalable range of complementary disposable capsules, each of which testing for a specific biomarker. The device integrates with a digital infrastructure for sharing data with the doctor, clinic or hospital, and health institutions via smartphone and/or computer. The accuracy of its analysis is on a par with current gold standard lab methods. In the last years the platform has been successfully developed to a level where patients themselves can carry out different types of biomarker analysis based on a small amount of blood (currently for biomarkers of chronic diseases such as phenylketonuria, rheumatoid arthritis and cancer).
Now, under the impression of the current Corona Crisis, Qlife has announced that it has closed a license and supply agreement with Aidian Oy to access and incorporate their patented SIBA® Technology into the Egoo.Health platform. The SIBA technology will enable the Egoo device to test for viruses, first and foremost the SARS-CoV-2 virus to test for COVID-19. The two companies have conducted a joint successful first test of integrating Aidian’s SIBA technology into the platform.
The product development and registration activities initiated now requires investments of approximately 6 MDKK over the coming months. The company is presently evaluating different funding options, including relevant grants. You can read more on Qlife and the potentials of their technology here.