Qlife Holding AB: Qlife reports first milestone achieved and on track with Chinese collaboration
UPDATE: Qlife has previously reported the potential of its Chinese collaboration and is now updating accordingly: Qlife's collaboration with Hipro Biotechnology to bring home-hospital blood biomarker testing into the Chinese market and elsewhere - is progressing according to plan and has been further expanded with a focus on additional biomarker tests.
The collaboration consists of four major parts:
1. Integration of reagents
2. Regulatory approval in China
3. Distribution and sales in China
4. Production of Egoo in China
Integration of reagents
The parties have worked diligently for several months towards integrating Hipro's proven and commercialized biochemistries into the Egoo system - and the output is now reported and documented in the form of excellent data. The prerequisite for moving forward is that the data fulfills certain performance criteria - and for the assays in focus, they are all well within those performance criteria.
More assays
Due to the fact that data is very promising, the parties have decided together to increase the contractual 3 focus assays to 5-7 focus assays - all within major disease fields. Initially, the focus was on cardiovascular disease, and now it also includes diabetes, stroke, and inflammation. All disease fields that have large market potential to transition from testing in hospitals and public facilities into near-patient settings and the home.
Regulatory approval
Qlife is additionally focused on setting up Chinese subsidiary in Beijing to a) remain the legal manufacturer of the Egoo system in China; b) fulfill Chinese requirements for being a local manufacturer and not a foreign entity. As soon as all formalities are taken care of, audited, and approved by Chinese authorities, the parties plan to move towards analytical protocols and clinical trials.
CEO, Thomas Warthoe on the status of the collaboration:
"We are extremely pleased with the collaboration and working together - the collaboration is progressing at full pace with a lot of motivation, good spirit, and diligence on both sides. I feel we have been very fortunate to meet a partner who shares the same vision as us and has the competency required and the power to sell into the world's largest market efficiently. There is only one way for us, and that is forward and making it happen in China".
Other partnerships
Qlife continues to work diligently towards entering new important partnerships for home diagnostics and will update in the near future on the status of such discussions.
HCA and AP live
On Monday and Tuesday, 19th and 20th February, Thomas Warthoe will further elaborate on the Hipro collaboration, new partnership opportunities, and the ongoing rights issue.
Sign up for Monday's webinar here with HC Andersen Capital: https://www.inderes.dk/videos/qlife-qlifes-2024-with-ceo-thomas-warthoe
Find the Tuesday's webinar here with AP Live: https://www.aktieportfoljen.se/