Noul, an AI-based blood and cancer diagnostic platform company, has signed an exclusive agreement worth about $5.18 million (6.6 billion won) with a Nigerian medical device wholesaler to supply its digital microscopy platform until 2026. 

It was the company's third exclusive supply contract since its listing, following a contract with Saudi Arabia (2.3 billion won) in January and with Côte d'Ivoire (1.9 billion won) in July. 

miLab, the world's first AI-based blood and cancer diagnostic platform, is in high demand in low- and middle-income countries as it can provide accurate microscopy and diagnostic convenience in places with no medical infrastructure. The 2022 UNITAID report referenced it as "the most advanced form of digital microscopy platform that integrates all functions of microscopic diagnostics."

Nigeria is the number one country in the world for malaria incidence and deaths in 2021, accounting for about 27 percent of the world's 247 million malaria cases and 190,000 of the world's 620,000 malaria deaths. 

Africa has about 234 million malaria cases, accounting for about 95 percent of the global total. Malaria is a typical infectious disease affected by climate change. It was concentrated in Africa but has recently spread to Europe, the U.S., and Korea.

"We have seen a visible increase in sales opportunities for miLab's malaria products in Africa and the Middle East, including Saudi Arabia, Côte d'Ivoire, Nigeria, and Angola, after conducting a roadshow in West Africa in the first half of this year," said Shin Sang-yeol, head of sales and marketing at Noul. 

Shin noted that a company in Angola is also eager to use miLab, adding that the company signed an MOU recently and would conclude an official contract.