Egoo Health | Top In Vitro Diagnostic Solutions Company In Europe 2022

MedTech Outlook Magazine

Egoo Health
QLIFE)

Thomas Warthoe, CEO, Egoo HealthThomas Warthoe, CEO
Until recently, reliable testing for a chronic illness required the patient to be seen by a physician, samples to be sent to a microbiology laboratory for testing with a long turnaround time. However, there has been a paradigm shift from traditional diagnostics to rapid molecular testing, out of the laboratory, closer to a patient. This was made possible by the inclusion of advanced technologies such as genetic testing, molecular diagnostics, and next-generation sequencing. The surging prevalence of chronic illnesses, such as cancer and infectious diseases has also increased the demand for POC testing. Today, several molecular testing companies are providing patient diagnosis and monitoring therapeutic responses. A specialist among these is a Denmark-based company, Egoo Health that is revamping the clinical biomarker market by taking it out of the lab and into homes. Enabling tests at home in healthcare, access to important health information is facilitated, contributing to better treatment and potentially preventing diseases.

Egoo Health Systems Transforming Healthcare

Today, one might have their blood work done once a year, or even less. Access to blood biomarker information is not easily accessible. To this end, the corporation offers an integrated at-home biomarker diagnostics platform with the long-term goal of giving people access to safe and validated blood biomarker data at home. Egoo Health system gives people access to clinical biomarker information to actively monitor specific conditions having to do with their heart, metabolism, diabetes thyroid or many other health concerns. Egoo is the world’s first connected molecular and immune-diagnostics self-testing platform. Furthermore, the Egoo Optics is unique as it measures at several wavelengths and methodologies covering a wide spectrum of biomarkers.
Each biomarker test is optimized to take between 2-30 minutes (DNA/RNA tests are the 30 minutes ones, while immune-test varies between 2-10 minutes). The firm has spent years on integrating all the technical modules without compromising the clinical-grade quality to make it easy to use. Additionally, the system works with smartphone, laptop or tablet and can send data to various databases, HIS/ LIS etc. The Egoo Health system has been used in a variety of industries. As an instance, Egoo made it possible for the professional football leagues in Denmark to play all matches of the 2020 season despite the coronavirus pandemic. In connection with the European Football Championship in Copenhagen in the coming weeks, the company expanded its testing capacity for Covid-19 to give more people access to RT-PCR tests using the Egoo Health-platform with guaranteed response within 8 hours (same day results). All test results were notified to the relevant authorities and an international electronic travel certificate was issued.

The Platform’s PCR Technology

Egoo uses a one-time Sars-CoV-2 capsule and runs 1 test in 30 minutes with a proper internet connection to deliver results directly in a system. The Sars-CoV-2 capsule is initially CE-marked for professional-use and targeting a CE-mark for home-use later. An enzyme is added which separates the DNA strands. The temperature is stable at 44°C. The two single stranded DNA will be used as a template for the creation of new DNA copies. The temperature is kept at 44°C. The DNA enzyme “Polymerase I Large fragment” is now able to copy the DNA strands. The temperature is kept at 44°C. The enzyme enables the enterprise to increase the pace of chemical reactions and that the analysis can be created isothermally at 44°C in comparison to the RT-PCR. Further, the analysis takes as less as 30 minutes.

Other aspects that set Egoo Health apart in the in vitro diagnostics space is its focus on professional sports centered around COVID-19 testing, which the company offers in collaboration with IT partner KMD.
COVID-19 testing contracts have been closed with various domestic sports unions, such as Divisons for eningen, DBU, and Badminton Denmark. The company is now opening up to the rest of Europe, starting with a focus on professional cycling in cooperation with Geelmuyden Kiese (GK). A contract has already been signed with Trek-Segafredo. The enterprise decided to offer its multi-sample testing capacity to the sports community due to the clear need for larger volume testing. In the short term, they will also offer their core product platform – the little Egoo device – as soon as it is validated and ready to roll-out to selected clients. Egoo Health is witnessing a demand from the sports world to self-test on-site with the flexibility that the Egoo platform offers. The company will continue to offer testing services for professional sports athletes. This ensures the best possible basis for top performances by athletes and consequently, the most entertaining and exciting sports events. Being able to deliver volume COVID-19 testing and on-site testing with its core product underlines the versatility of Egoo Health system offering and an operational setup that has proven to work satisfactorily.

  • We are on a Mission to Change how Diagnostic Clinical-Grade Data is Used to Actively Monitor our Health


Towards a Brighter Future

In the long term, the company’s goal is to expand into the growing consumer market for self-testing, and thus giving everyone the opportunity for greater insight into their own health. The strategy is to initially launch the products in the Nordic countries, followed by the rest of Europe, the USA and the rest of the world. In the short term, the system will be launched in well-defined segments of chronically ill patients where there is a great need for frequent monitoring. The firm will continuously develop additional biomarkers for use in various disease areas and health conditions.

Top 10 In Vitro Diagnostic Solutions Companies In Europe - 2022

Company
Egoo Health

Management
Thomas Warthoe, CEO

Description
A medical technology company with an innovative medical technology platform with the long-term goal of giving people access to safe and validated blood biomarker data at home. The platform called Egoo.health consists of a small diagnostic device with individual capsules containing each a specific biomarker test that can be measured by a single drop of blood from the fingertip. Egoo Health is on a mission to change how diagnostic clinical-grade data is used to actively monitor health

Egoo Health News

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 has taken a significant step in its B2B strategy to penetrate major markets with Egoo Health by signing a Letter of Intent (LOI) with Hipro Biotechnology, a major player in the industry, to introduce Egoo Health to the Chinese market. The comprehensive collaboration agreement is anticipated to be finalized by the end of this year.
Technology and Strategy: Qlife has invested over SEK 300 million in developing Egoo Health, a unique biomarker self-testing system for measuring and monitoring blood data at a clinical-grade level at home, during clinical trials, and for various applications. The technology was successfully commercialized during the COVID-19 pandemic and is now being prepared for approval and commercialization with other test assays in collaboration with industry partners. The primary focus is on hospitals and the "hospital-at-home" concept, which is considered a faster, more cost-effective, and scalable route-to-market compared to the direct B2C strategy. However, the ultimate goal remains to offer the technology directly to users/patients on a global scale through a B2C approach in due time.
The LOI: Qlife is pleased to announce the LOI with Hipro Biotechnology, outlining their collaboration in two phases:
a. Regulatory Approvals: Hipro Biotechnology will navigate the regulatory landscape to secure approvals from the China Food and Drug Administration (CFDA) for Egoo Health, including the software, hardware, and three test capsules. Hipro Biotechnology will cover all associated costs during this approval phase.
b. Commercialization in China: Following regulatory approvals, Hipro Biotechnology will lead the commercialization efforts for Egoo Health in China. This involves marketing, sales, and distribution through Hipro's network directly to Chinese hospitals, along with managing the associated financial responsibilities.
Qlife's Expansion Strategy: Qlife's strategic plan involves establishing a presence in major markets such as the USA, China, India, UK, and Japan. Recognizing the diverse healthcare infrastructure in these regions, Qlife seeks partnerships with established entities to effectively deploy hospital-at-home solutions. Additionally, Qlife is actively pursuing approvals and expanding its distribution network in European countries.
Thomas Warthoe, CEO of Qlife, expressed enthusiasm about the LOI, highlighting Hipro's significance in the Chinese market and their shared interest in the at-home hospitalization market, which holds substantial potential in China.
Shushun Hao, CEO & President of Hipro Biotechnology, recognized the potential of Egoo Health in the Chinese market and their intent to develop vital disease biomarker tests on the Egoo platform in the future.
This disclosure aligns with Qlife Holding AB's obligations under the EU Market Abuse Regulation (EU nr 596/2014) and was submitted for publication through the designated contact person on September 14, 2023, at 09:57 CET.