- ResApp Health has entered an agreement with Sanofi, a biopharmaceutical company, to develop a respiratory consumer product
- The deal will see ResApp grant Sanofi’s consumer healthcare business unit a licence to expand its smartphone application for respiratory diseases
- On top of that, Sanofi can choose to negotiate and acquire exclusive rights to develop and manufacture a respiratory self-assessment application for consumers
- Company shares are up 1.85 per cent and trading for 27.5 cents each
ResApp Health has entered an agreement with Sanofi, a biopharmaceutical company for the development of a respiratory consumer product.
The deal will see ResApp granting Sanofi’s consumer healthcare business unit an exclusive licence to use the outcomes generated under the Startup Creasphere incubator program.
Early last month, ResApp joined the Startup Creasphere Digital Health Program to expand business development opportunities for its respiratory product.
Startup Creasphere, which is powered by Plug and Play, was established in 2018 and is the first health-focused accelerator in Munich.
The companies will collaborate on building a smartphone application which will leverage ResApp’s cough-based respiratory disease diagnostic algorithms to give consumers at-home support.
“We are pleased to be working with the global consumer healthcare team on a unique and important standalone product that neatly complements the solutions in our existing portfolio,” ResApp CEO and Managing Director Tony Keating said.
Sanofi is a pharmaceutical company headquartered in Paris, France. However, it maintains a global presence, particularly in Australia and New Zealand, which targets consumer healthcare.
Its aim is to make consumers as in-control and aware of their health and wellbeing by making medication, vitamins and personal care as accessible as possible.
In addition, Sanofi will have the option to negotiate and acquire exclusive rights to develop, manufacture and commercialise a respiratory disease self-assessment application for consumers. It has until March 7 2020 to exercise the option.
If Sanofi chooses this option, the companies will have six months to negotiate the licencing terms.
Company shares are up 1.85 per cent and trading for 27.5 cents each at 11:47 am AEDT.