Qlife receives 3,45 MUSD funding from FIND to develop a respiratory assay in global fight against COVID-19 and influenza
COVID-19 represents one of the toughest global health challenges, as does recurrent influenza outbreaks. FIND, in the context of the Access to COVID-19 Tools (ACT) Accelerator diagnostics pillar, aims to accelerate development and delivery of affordable point-of-care, molecular diagnostics in low and middle-income countries. With this funding, Qlife joins forces with FIND to bring its diagnostic tests to people worldwide to defeat COVID-19 and other respiratory viruses.
Qlife has signed an agreement with FIND, the global alliance for diagnostics, for an funding of 3,45 MUSD for a 12-month project to develop a novel two-in-one assay for the detection of influenza and SARS-CoV-2 viruses in decentralized healthcare settings.
“It is a unique opportunity for Qlife to enter into a partnership with FIND of this scale. We will be able to participate in making a difference to people and communities in these countries in the near term. We are excited to put our specialist knowledge to work in developing a two-in-one respiratory assay” says Thomas Warthoe, CEO of Qlife.
The funding will be paid out in three milestone-based payments, with each payment following certain R&D achievements in the development process. Development will ultimately culminate in clinical trials in one or more LMICs, and a submission of a dossier for regulatory authorization by the World Health Organization Prequalification Programme.
In this project, Qlife intends to offer the Sars-CoV-2/influenza test to LMIC’s at under USD 15, with the ultimate goal of reducing the price to under USD10 as manufacturing capacity ramps up.
“For our company, when looking beyond the first development phase, this cooperation opens up new markets. We hope to continue our collaboration beyond this development funding with FIND to ensure production and launch in the LMICs”, says Thomas Warthoe.
For more information about FIND and ACT-Accelerator:
About FIND
FIND, the global alliance for diagnostics, seeks to ensure equitable access to reliable diagnosis around the world. We connect countries and communities, funders, decision-makers, healthcare providers and developers to spur diagnostic innovation and make testing an integral part of sustainable, resilient health systems. We are working to save 1 million lives through accessible, quality diagnosis, and save US$1 billion in healthcare costs to patients and health systems. We are co-convener of the Access to COVID-19 Tools (ACT) Accelerator diagnostics pillar, and a WHO Collaborating Centre for Laboratory Strengthening and Diagnostic Technology Evaluation. For more information, please visit www.finddx.org
About the ACT-Accelerator
The Access to COVID-19 Tools (ACT) Accelerator is a global coalition of organizations developing and deploying the new diagnostics, treatments and vaccines needed to end the acute phase of the pandemic. Pooling the expertise of its many partners, the ACT-Accelerator has quickly ushered in rapid, affordable tests and effective medicines for low and middle-income countries and established the COVAX facility for the equitable procurement and distribution of vaccines in low- and lower-middle-income countries. The ACT Accelerator partnership was formed at the onset of the pandemic in response to a call from G20 leaders, and was launched by WHO, the European Commission, France, and the Bill & Melinda Gates Foundation. For more information, plese visit www.who.int/initiatives/act-accelerator
This disclosure contains information that Qlife Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 20-12-2021 16:00 CET.
For more information please contact:
Thomas Warthoe, CEO
tw@egoo.health
+45 21 63 35 34
Qlife is a medical device company that seeks to revolutionize the clinical biomarker market for whole blood testing by taking it out of the lab and into the homes. This will facilitate easy access to blood sample results and in turn facilitate increased monitoring of parameters that enables care improvement.
Shares for Qlife are being traded on Nasdaq First North Growth Market in Stockholm with G&W Fondkommission as certified advisor (phone: +46 (0) 8-503 000 50, e-mail: ca@gwkapital.se).
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