Qlife receives milestone payment of 1.23 M USD from FIND
Qlife announces today that the company has received a milestone payment of 1.23 M USD within the framework of its agreement with FIND, the global alliance for diagnostics. The payment is made in connection with Qlife achieving key milestones in the development of a new two-in-one test for influenza and SARS-CoV-2 virus.
In December 2021, Qlife signed an agreement with FIND for $ 3.45 million for a 12-month project with the goal of developing a new and cost-effective two-in-one test for influenza and SARS-CoV-2 virus detection in decentralized care environments in low- and middle-income countries (LMIC).
“The collaboration with FIND is very important for Qlife. It enables the development of a completely new test for a specific market with clear needs. We are proud to be part of a development project that can make such a big difference while the development work progresses in accordance with our plan”, says Thomas Warthoe, CEO of Qlife.
The financing is paid out in three milestone-based payments, where each payment follows specific R & D performance in the development process. The first payment was made in connection with the signing of the agreement and now the second research-related milestone has now been reached.
This means that Qlife has completed the milestones relating to the analytical verification protocols which releases a payment of 1.23 M USD. As of date, Qlife has received 2.55 M USD from FIND.
Qlife expects to bring the new influenza/SARS-CoV-2 test capsules to market in select LMICs under a pilot program in 2023.
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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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, please
visit www.who.int/initiatives/act-accelerator