In vitro diagnostics company Precision Biosensor has begun commercializing personalized diagnostic equipment, Egoo Health System, by collaborating with its Danish partner Qlife.
Qlife, which was listed on the Nasdaq First North Growth Market, an alternative stock exchange for small- and mid-sized growth companies in Europe, in 2020, has launched the Egoo Health System, which simplifies the process from sample collection to measurement, considering the growth potential of the Hospital-at-Home market.
The Danish company is seeking global expansion with a diagnostic portfolio centered on biomarkers that require continuous monitoring, such as CRP, Vitamin D, HbA1c, and phenylalanine.
The global in-vitro diagnostics market is shifting from treatment to prevention and decentralization as digital technologies develop.
The market for point-of-care diagnostic products has grown rapidly during the Covid-19 pandemic as diagnostic results can be checked within 10 to 20 minutes, are easy to use, and do not require a high level of sophistication to interpret the results. Among them, personalized diagnostic products allow patients suspected of having a certain disease to make an initial check on the spot and visit a hospital for a more detailed test to receive a diagnosis and treatment.
In some countries, patients who experience flu symptoms prioritize visiting pharmacies, so diagnostics are performed at highly accessible pharmacies to identify chronic diseases, influenza, and sexually transmitted diseases at an early stage.
Precision Biosensor plans to expand its base in the professional diagnostic market by expanding its automation platform with many tests per hour in immunodiagnosis and clinical chemistry point-of-care platforms. It prepares to enter the personalized diagnosis market, which is expected to create synergy with digital therapeutics currently under development in cooperation with Qlife.
"To strengthen our position in the point-of-care diagnostics market, Precision Biosensor is striving to expand to various platforms by collaborating with domestic and foreign companies through open innovation and self-development," CEO Kim Han-shin said. "We will continue to strive to grow into a company that provides total healthcare solutions that contribute to improving patients' quality of life by creating synergy between Qlife's innovative personalized diagnostic platform and digital therapeutics."
Precision Biosensor sells Exdia TRF, an immunodiagnostic platform specialized for point-of-care diagnostics, and Exdia PT10, a clinical chemistry platform, in global markets, including the United States, Europe, and Japan. The company has been expanding into the domestic diagnostic market by obtaining domestic approval for thyroid hormone diagnostic products Exdia TSH and Exdia fT4.