Qlife collaboration agreement with Hipro biotechnology - potential value of 500 MSEK
Qlife has received many questions related to the potential value of the agreement, and consequently updates as follows:
Qlife has on Monday 4th of December entered into a final collaboration agreement with Hipro Biotechnology. The parties will from now on work diligently towards achieving market clearance for Egoo Health from the China FDA – expected to take 12-18 months for 3 Egoo tests initially.
From the time of market clearance, the value of the collaboration on the Chinese market in the first full year is estimated to be 10-20 percent of Hipro unit sales which currently is approx. 25 million tests per year. Hence the value of the agreement is estimated to be sales in the range 100-200 MSEK (ratio 80/20 tests/devices).
After five years it is expected that the collaboration with Hipro will enable an extensive menu of at-home tests on the Egoo system generating sales in the range of 300-500 MSEK from the Chinese market.
Thomas Warthoe CEO of Qlife comments: We are very satisfied with this agreement, the value of the agreement is in our view significant and a testament to how overwhelmingly big the Chinese market is and can be very profitable provided you work with the right partner. We will from now on focus on making the numbers come true together with Hipro. Our technical team is already now in China to work on product integration, so we certainly do not plan to waste any time.
You can read the initial press release here: https://news.cision.com/se/qlife-holding-ab/r/qlife-signs-collaboration-agreement-with-hipro-biotechnology,c3887350
For more information please contact:
Thomas Warthoe, CEO
tw@egoo.health
+45 21 63 35 34
About Egoo Health
Egoo Health is bringing Qlife’s vision to life, with a product platform that enables advanced biomarker testing, an easy-to-use device and accessibility to everyone, anywhere. The aim is to give people access to important health data at the clinical-grade level - something that has never been possible like this before. The Egoo System is an integrated platform, consisting of a small diagnostic device, a blood-to-plasma collector, disposable capsules that contain test reagents for a specific biomarker/virus, and the supplementing smartphone app - a system that can be used for self-testing at home or at the point of care.