The directors of Acuvax Ltd have announced that, subject to a satisfactory outcome on due diligence, the company has negotiated an acquisition of a sophisticated non-invasive early detection diagnostic technology.
The Technology has been developed over many years by an Israel-based company and is designed to diagnose more than 200 illnesses, disorders and diseases in humans. Several clinical trials have been completed to date and the medical device product is now ready for full commercialisation.
The Technology can be used as a point-of-care first-stage screening tool able to identify specific pathologies in the general population, prior to advancing patients to appropriate confirmative diagnostic tests. It can provide immediate feedback at the general practitioner level and has the potential for use in the medical industry to increase population health by alerting medical practitioners to problems earlier and before major surgery is required, thus helping address the current crisis in many countries by reducing the burden on hospitals and national health systems. There is also the potential to develop derivative screening devices for the alternative medical sectors.
Revenues from the Technology are able to be generated from both upfront device purchases and ongoing ‘per use’ patient tests. Acuvax is poised to benefit from consolidating and controlling all aspects of the Technology including: research and development (incorporating clinical trials), intellectual property (“IP”) protection, manufacture, market positioning and pricing model flexibility.
Acuvax will also negotiate distribution arrangements with parties already in talks for device orders for South Africa, Australia and parts of Asia.
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