QLIFE signs exclusive European distribution agreement with Aidian
Qlife has signed an exclusive European distribution agreement with Aidian Oy, for the Egoo.Health device and Sars-CoV2-capsule for the clinical diagnostics market. Aidian Oy is a market leading In Vitro Diagnostics (IVD) company based in Finland.
The agreement covers a range of European countries, including Sweden, Norway, Finland, Germany, Netherlands, Belgium, Luxembourg, Austria, Switzerland, Poland, Czech Republic, Hungary, Slovakia, Romania, Slovenia, and Baltics, and applies immediately.
Aidian is a market leader in the clinical diagnostics market offering solutions and services with a customer-focused mindset, high-quality products, and an established and widespread salesforce in Europe.
“The agreement with Aidian is a major milestone for Qlife and builds on the long-term overall strategy of adding strategic partnerships for prioritized markets. Qlife’s strategy is to establish a strong base in the clinical diagnostics market for home use monitoring of clinical-grade biomarkers before we move to the consumer market. We do not intend to build a sales force ourselves in the clinical diagnostics market but work through strategic partnerships with companies that already own their market. This partnership is an execution of that strategy”, says Thomas Warthoe, CEO at Qlife.
The contract is exclusive for the above-mentioned countries and runs initially for 3 years with the option from both parties to be prolonged. Aidian and Qlife is planning a fast roll-out and continuous increased sales activities are expected over the contract period. The value of the contract for the first 12 months is estimated to be around SEK 40-50 million covering the Egoo.Health device and Sars-CoV-2 capsule alone. The parties will be adding other test capsules to the contract as Qlife production capacity can sustain further deliveries.
“With the competencies within immuno and molecular chemistry and an experienced salesforce Aidian is well positioned to accelerate Qlife’s commercialization process. This agreement builds on the positive collaboration we established during the development of the SARS-CoV-2 capsule. It manifests the demand for tests of laboratory quality combined with fast results, which the Egoo.Health platform delivers. We are proud to accelerate our international commercialization together with Aidian”, says Thomas Warthoe.
“Aidian's patented isothermal amplification technology SIBA®, together with Qlife's Egoo.Health platform bring to life a high-quality and compact molecular assay for detection of SARS-CoV-2", comments Juho Himberg, CEO of Aidian. "This combination of a small analyzer with the robust SIBA assay enables easy access molecular Covid-19 testing without high investment needs for larger instrumentation and the product is a great fit to our European wide customer base. We look forward to the collaboration and a partnership for the future that will focus on bringing more test capsules to the market", concludes Himberg.
The Egoo.Health rapid PCR test for detection of the coronavirus SARS-CoV-2 delivers a result in 30 minutes with less than a minute of hands-on time to prepare the sample. The SARS-CoV-2 test can be utilized in multiple settings where actionable test results are needed to make informed treatment decisions quickly. The test delivers near-patient results with the same level of performance as in reference labs.
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 21-04-2021 13:07 CET.