Qlife signs letter of intent with major industry partner as part of a the b2b strategy to enter major markets with Egoo Health, through hospital-at-home partnerships.
Qlife is pleased to announce that it has signed a Letter of Intent (LOI) with major industry player, Hipro Biotechnology, to introduce Egoo Health to the Chinese market. Qlife anticipate finalizing a comprehensive collaboration agreement by the end of this year.
The technology and overall strategy
Qlife has invested more than SEK 300 million in the development of Egoo Health, a unique biomarker self-testing system for measuring and monitoring blood data at clinical-grade level at-home, during clinical trials and for other purposes. The technology was successfully commercialized during the COVID19 pandemic and is now ready and in the process of being prepared for approval and commercialization with other test assays together with industry partners. The new focal point is hospitals and the so-called ‘hospital-at-home’ concept. This new b2b strategy and strategic focus is seen as a faster, more cost effective and also more scalable route-to-market, relative to the direct b2c strategy which has been the primary focus to date. Qlife maintains the end-goal of offering its technology directly to users/patients b2c on a global scale in due time.
The LOI
Qlife is pleased to announce that it has signed a Letter of Intent (LOI) with major industry player, Hipro Biotechnology, to introduce Egoo Health to the Chinese market. Qlife anticipate finalizing a comprehensive collaboration agreement by the end of this year.
The collaboration will be executed in two distinct phases:
- Regulatory Approvals: Hipro Biotechnology will navigate the regulatory landscape to secure vital approvals from the China Food and Drug Administration (CFDA) for Egoo Health which consist of the software, hardware and three test capsules. Hipro Biotechnology will cover all associated costs during the approval phase for Egoo Health.
- Commercialization in China: Following regulatory approvals, Hipro Biotechnology will lead the commercialization of Egoo Health in China, which includes marketing, sales, and distribution through Hipro’s distribution network directly to Chinese hospitals, along with overseeing the associated financial responsibilities.
Qlife’s Expansion Strategy
At the recent AACC event, Egoo Health was applauded by industry professionals for its outstanding integration capabilities, particularly in relation to the emerging "hospital-at-home" concept addressing a global healthcare challenge.
This collaboration with Hipro Biotechnology signifies a step in Qlife's strategic plan to establish a foothold in major markets such as the USA, China, India, UK, and Japan.
Recognizing the diverse healthcare infrastructure across these nations and European countries, Qlife focuses on forming partnerships with well-established entities in the USA, China, India, UK, and Japan to ensure the effective deployment of hospital-at-home solutions. Additionally, Qlife is diligently working towards gaining approvals and expanding its distribution network in European countries.
“We are very happy to be able to sign this letter of intent, we look forward to entering the final collaboration agreement, and in parallel start preparations for working together. Hipro is a significant player in the Chinese market, with sales to more than 14,000 hospitals. The company has a strong interest in being a first mover into the at-home hospitalization market for which there is great interest and large potential in China”, says Thomas Warthoe, CEO of Qlife.
“When we first saw the Egoo Health technology at the AACC conference in Anaheim in July this year, we immediate could see a big potential for such technology in the Chinese market. We think Egoo can become a significant product-line for patients in China that can be monitored from home, and we want to develop many important disease biomarker tests on the Egoo platform in the future”, says Shushun Hao, CEO & President of Hipro Biotechnology.
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 14-09-2023 09:57 CET.
For more information please contact:
Thomas Warthoe, CEO
tw@egoo.health
+45 21 63 35 34
About Hipro Biotechnology and Egoo Health
Hipro Biotechnology
Hipro Biotechnology Corp, founded in 2006, is a leading point-of-care company in China with sales to more than 14.000 hospital in China. The company provides first-in-class products to its customers in China and other parts of the world. Hipro focuses on R&D, manufacturing, marketing, and relevant services of Point-of-Care products. Hipro has a production base in Hebei Province, Beijing, Suzhou, Chengdu, Guangzhou, and recently launched 3.69 acres industrial park project in China Medical City. Furthermore, the company has an R&D Center in Silicon Valley, USA and instrument R&D Center in Freiburg, Germany,
Egoo Health
The idea emerged 20 years ago, and ever since, the concept has been tried, tested, and optimized over and over again. The result is Egoo Health. Invented and produced in Scandinavia and made up by the Egoo Device, Egoo Blood-to-Plasma Collect, Egoo Capsule and Egoo Smartphone App. The vision is that Egoo Health will assist everyone on the path towards prevention of disease and a better understanding of one’s health status. Every Egoo Capsule entail 1-2 biomarker tests, and the menu will continue to grow. Egoo is the size of a coffee mug, doesn’t take up much space, and fits into the shelves of any home.