Join our daily newsletter At The Bell to receive exclusive market insights
- Mobile healthcare company ResApp Health (RAP) has used the June quarter to progress its partnerships and commercial pipeline
- The company has expanded its trial with Medgate and partnered with Ilara Health to bring its diagnostic ResAppDx smartphone app to Kenya
- Additionally, ResApp recruited its first patient in its clinical study of chronic obstructive pulmonary disease (COPD) in Indigenous Australians
- ResApp ended the quarter with more than $6.58 million in total available funding, representing four quarters of use
- Shares in ResApp are trading in the grey at 4.1 cents at 11:32 am AEST
Mobile healthcare company ResApp Health (RAP) has used the June quarter to progress its partnerships and commercial pipeline.
ResApp’s device, ResAppDx, uses machine learning algorithms to analyse the sound of a patient’s cough to diagnose diseases and provide quick and accurate information.
It is a software-only solution that runs on smartphones, meaning it does not require additional hardware or accessories.
CEO and Managing Director Tony Keating is pleased with the success of the quarter.
“Our focus for the quarter has been on progressing our commercial pipeline, closing deals with Ilara Health and Doctors on Demand, the extension of the Medgate pilot and progressing a number of commercial discussions in our key areas of strategic focus,” Dr Keating said.
“These deals not only increase the direct use of our technology by clinicians and patients but also demonstrate to telehealth providers, healthcare systems, clinicians and patients globally that our technology adds significant value to the diagnosis and management of respiratory disease.”
Operations
Medgate trial
Since March, Medgate has been undertaking a pilot trial of ResAppDx across its telemedicine platform.
The program was extended by two months in June to collect further data and optimise the integration of ResAppDx within its services.
Negotiations are now under way for the commercial deployment of ResAppDx.
Ilara Health agreement
In early May, ResApp partnered with Ilara Health to bring its ResAppDx smartphone app to Kenya.
Under the partnership, Ilara will promote, market and sell the app over a three-year term.
At the end of the period, the partnership may be renewed for successive 12-month periods and may be terminated by either party with 90 days notice.
ResAppDx is now being used in a number of Ilara’s clinics with expansion expected over the coming months.
Indigenous Australians clinical study
During the quarter, ResApp recruited its first patient in its clinical study of chronic obstructive pulmonary disease (COPD) in Indigenous Australians.
The aim of this study is to demonstrate the health and economic benefits of using ResApp’s COPD screening algorithms to identify COPD in rural and remote settings.
COVID-19
ResApp recruited its first participants in a US clinical study to investigate the relationship between coughs and COVID-19 to develop an instant COVID-19 screening smartphone app.
Finances
Throughout the quarter, ResApp spent $1.72 million with the majority going towards staff costs.
Additionally, the company invested $2000 in property, plant and equipment.
ResApp ended the quarter with more than $6.58 million in total available funding, representing four quarters of use.
Shares in ResApp are trading in the grey at 4.1 cents at 11:32 am AEST.
