TSX.V: CHIP.H
CALGARY, March 29, 2021 /PRNewswire/ -Health Logic Interactive Inc. ("Health Logic" or the "Company") (TSX.V: CHIP.H),is pleased to announce its wholly owned operating subsidiary, My Health Logic Inc. ("My Health Logic"), has entered into a license agreement (the "License Agreement")with an arm's length third party (the "Licensor") pursuant to which My Health Logic has a worldwide, exclusive license to the UAL-Chip, a patent pending lab-on-chip ("LOC") technology that has the potential to be used in a smartphone connected, hand-held device to provide rapid point-of-care ("POC") diagnosis of Chronic Kidney Disease ("CKD").
CKD is a life-changing chronic condition that is harmful for patients and extremely expensive to treat unless caught early. Over 850 million people globally and 37 million people in the United States have CKD, and total healthcare costs for treatment of CKD in the US exceed $120B per year. The key to preventing the major harms from CKD, such as kidney failure, kidney dialysis, and death, is early testing and treatment; however, approximately 90% of those afflicted by CKD do not realize they have it. We believe that providing patients and caregivers a low-cost, accessible tool for early diagnosis and treatment is an opportunity to help millions of at-risk patients and start to bend the cost curve for health systems worldwide.
UAL-Chip technology has the potential to drive a much-needed disruption of the legacy systems used for CKD testing and accelerate the trend towards automation, digitization and personalization in the healthcare industry. The UAL-Chip can utilizemicrofluidic technology to test for the albumin levels in urine and deliver rapid results to a users' smartphone and their healthcare practitioner. Currently, <50% of at-risk patients are tested; we expect that introducing digitally connected home testing solutions would increase this number by removing one of the current barriers to testing, being attendance at a central lab, and would also provide My Health Logic with the opportunity to develop a robust platform for continuous digital patient monitoring and care for CKD of all stages.
"CKD is common, costly and harmful for patients and communities. It is also under-recognized. Bringing the CKD diagnosis into the home is a disruptive approach that could bridge the screening gap for millions of patients, allowing early detection and treatment, preventing harms for millions, and reducing health costs by billions" Dr. Claudio Rigatto, Co-Inventor, Seven Oaks General Hospital
"Our lab-on-chip platform can give accurate results rivalling central laboratories in precision but in an accessible, low cost and rapid form usable in the home, fulfilling the dream of true point-of-care diagnosis and personalized medicine." Dr. Francis Lin, Lead Inventor
Highlights of the Market:
Highlights of the Technology:
The Technology was invented by the world-renowned team of nephrologists at Seven Oaks General Hospital including Dr. Navdeep Tangri, Dr. Paul Komenda, and Dr. Claudio Rigatto, and biomedical engineering LOC expert Dr. Francis Lin. The team of inventors are expected to play an active role in the ongoing development of the lab-on-chips, and MATLOC device as we pursue regulatory approvals with Health Canada and the US Food and Drug Administration ("FDA") via an accelerated 510K pathway. In addition to the ongoing guidance from the inventors, the Company plans to on board and engage strategic industry thought leaders and experts to best guide My Health Logic through the development process to successful commercialization, for which there is no guarantee.
My Health Logic's obligations under the License Agreement include: (a) developing, manufacturing and selling products that incorporate the licensed technology ("Licensed Products"); (b) marketing Licensed Products in the US and Canada within 6 months of receiving regulatory approval; (c) reasonably filling market demand for Licensed Products following marketing; (d) obtaining all necessary governmental approvals for the activities in (a); and (e) spending at least $650,000 on the development of Licensed Products during the first four years of the License Agreement. As consideration for the license and other rights under the License Agreement, My Health Logic will pay Licensor annual royalties on net sales of Licensed Products, cover past patent costs, pay annual license maintenance fees and make certain payments upon the occurrence of milestone events in the regulatory approval process with respect to Licensed Products.
The Company is also pleased to announce that it plans to conduct a non-brokered private placement for gross proceeds of up to $1.4M, subject to approval of the TSX Venture Exchange.
About the Company
Health Logic Interactive, through its wholly owned operating subsidiary My Health Logic, is developing and commercializing consumer focused handheld point-of-care diagnostic devices that connect to patient's smartphones and digital continued care platforms. The Company plans to use their patent pending lab-on-chip technology to provide rapid results and facilitate the transfer of that data from the diagnostic device to the patient's smartphone. The Company expects this data collection will allow it to better assess patient risk profiles and provide better patient outcomes. Our mission is to empower people with the ability to get early detection anytime, anywhere with actionable digital management for chronic kidney disease. For more information visit us at:www.healthlogicinteractive.com
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forwardlooking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: development, manufacture and sale of Licensed Products; performance of obligations under the License Agreement; plans to engage the inventors and other experts to assist with regulatory approval and commercialization of Licensed Products; plans for and expected benefits of the licensed technology; and the Offering.
These forwardlooking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: My Health Logic's ability to develop, manufacture and sell the Licensed Products, perform its obligations under the License Agreement and otherwise implement its business strategies; My Health Logic's ability to obtain regulatory approval of Licensed Products; and the Company's ability to obtain regulatory approval of the Offering and complete the Offering on the proposed terms.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: My Health Logic will be able to develop, manufacture and sell the Licensed Products, perform its obligations under the License Agreement and otherwise implement its business strategies; My Health Logic will be able to obtain all necessary regulatory approvals with respect to Licensed Products; and the Company will be able to obtain all necessary regulatory approvals with respect to the Offering, and the Company will be able to complete the Offering on the proposed terms.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE Health Logic Interactive Inc.
Read this article:
Health Logic Interactive Inc., Acquires Next-Generation Lab-On-Chip Medical Diagnostic Technology - PRNewswire
- Curt Medeiros on Revolutionizing Precision Medicine and Scaling Ovation - Madrona Venture Group - January 6th, 2025
- Personalized medicine: The pros, cons and concerns - New Atlas - November 16th, 2024
- Precision Medicine, AI, and the Future of Personalized Health Care - November 16th, 2024
- Why precision medicine results in more effective health care, treatment plans - The Business Journals - November 16th, 2024
- Comprehensive Genomic Profiling at Diagnosis Extends Survival in Patients with Advanced Cancer - Inside Precision Medicine - November 16th, 2024
- More Precise Classifications of NonClear Cell RCC Are Required to Improve Personalized Treatment - OncLive - September 13th, 2024
- Bahrain aims to provide residents with personalized healthcare - Healthcare IT News - September 13th, 2024
- Precision Medicine Market Is Expected To Reach Revenue Of - GlobeNewswire - September 13th, 2024
- New Graduates Leverage Genomics Education in Clinical and Research Settings - University of Colorado Anschutz Medical Campus - June 20th, 2024
- Personalized medicine is coming, but who will have access to it? - March 10th, 2024
- Personalized medicine | Definition, Origins, Examples, & Ethical ... - March 10th, 2024
- Innovating for Individual Care: The Impact of USP on Personalized Medicine - March 10th, 2024
- Live Cell Encapsulation Market To Reach USD 313.3 Million at a CAGR of 4% in 2032 - EIN News - April 23rd, 2023
- Cancer Therapeutics and Biotherapeutics Market is estimated to be US$ 506.8 billion by 2032 with a CAGR of - EIN News - April 7th, 2023
- Regenerative Therapies Market is Set to Grow at a CAGR of 8.7% by 2033, Propelled by Advancements in - EIN News - March 13th, 2023
- Gene Therapy Market Size (USD 46.5 Bn by 2030): A Growing Industry and Its Impact on Healthcare Systems - EIN News - March 13th, 2023
- Translating the Microbiome - Inside Precision Medicine - October 15th, 2022
- Enhancing Enrollment in Biomarker-Driven Oncology and Rare Disease Trials - Applied Clinical Trials Online - October 15th, 2022
- Global Cancer/Tumor Profiling Market Research Report to 2027 - Increasing Demand for Personalized Medicine Presents Opportunities -... - October 15th, 2022
- Cambridge biotech raises $168 million to fight cancer and other diseases - The Boston Globe - October 15th, 2022
- Perlmutter Cancer Center Medical Oncologist Provides Personalized Care to People with Breast Cancer - NYU Langone Health - October 15th, 2022
- Concierge Medicine's Continued Rise Illuminated by Specialdocs Consultants at the Industry's Leading Event - PR Newswire - October 15th, 2022
- Hormone Changes: The Star of Every Stage in Women's Sleep - Medscape - October 15th, 2022
- Could Xolair Be the First Biologic Treatment for Food Allergies? - Allergic Living - October 15th, 2022
- Matching Treatments to Your Genes - The Epoch Times - October 15th, 2022
- Global Monoclonal Antibodies (mAbs) Markets, 2018-2021 & 2022-2030 - Increasing R&D Activities Aimed at the Development of Novel Therapeutic mAbs -... - October 15th, 2022
- Xcell Biosciences and aCGT Vector Collaborate to Accelerate Development of Cell and Gene Therapies - Business Wire - October 15th, 2022
- Learn Look Locate Partners with Genetic Testing Leader, Myriad Genetics, in Educational Campaign - PR Newswire - October 15th, 2022
- Important Mission By LG To Reinvent Society With Future Growth - Forbes - October 15th, 2022
- Scientists identify more than 12,000 spots in the human genome associated with height - Inverse - October 15th, 2022
- The future of cancer research | News - ND Newswire - October 15th, 2022
- Kyverna Therapeutics Names Peter Maag, Ph.D., as Chief Executive Officer - PR Newswire - October 15th, 2022
- Call for Accurate Automation in Healthcare Practices to drive the Laboratory Information Systems (LIS) Market | Future Market Insights, Inc. - Yahoo... - October 15th, 2022
- Stem Cell Manufacturing Global Market Report 2022: Widespread Product Utilization in Effective Disease Ma - Benzinga - October 15th, 2022
- Global Precision Medicine Software Market is projected to witness a healthy growth rate of 10% in the upcoming years - Bio-IT World - July 17th, 2022
- The Single-Cell Analysis Market Size To Almost Double By 2026 Due To A Rising Focus On Personalized Medicine As Per The Business Research Company's... - July 17th, 2022
- Northwell Health Partners with Google Cloud to Provide Proactive, Personalized Healthcare - PR Newswire - July 17th, 2022
- Leveraging whole blood based functional flow cytometry assays to open new perspectives for rheumatoid arthritis translational research | Scientific... - July 17th, 2022
- New Approaches Needed To Support Digitization Of Healthcare - Forbes - July 17th, 2022
- Outlook on the Microtome Global Market to 2027 - Increasing Demand for Personalized Medicine Presents Opp - Benzinga - July 17th, 2022
- Precision health perspectives - UCI News - July 17th, 2022
- The Worldwide Compound Management Industry is Expected to Reach $1.4 Billion by 2030 - ResearchAndMarkets.com - Business Wire - July 17th, 2022
- Thrive Pet Healthcare and FidoCure Announce An Expansive Pet Precision Health Partnership - Benzinga - Benzinga - July 17th, 2022
- Access to Myriad Genetics GeneSight Test Improves Depression Remission Rates In Largest Ever Mental Health PGx Randomized Controlled Trial - Yahoo... - July 17th, 2022
- Global Induced Pluripotent Stem Cell (iPSC) Market Report 2022: Rising Applications of iPSCs Fueling Industry Growth - ResearchAndMarkets.com -... - July 17th, 2022
- Research Antibodies and Reagents Market worth $16.1 Billion by 2027 Exclusive Report by MarketsandMarkets - Yahoo Finance - July 17th, 2022
- Global Custom Antibody Market Is Expected To Reach USD 742.27 Million At A CAGR Of 10.3% And Forecast To 2029 - Digital Journal - July 17th, 2022
- Personalized Medicine Coalition - Precision Medicine Advocacy and ... - June 8th, 2022
- Precision Medicine | FDA - June 8th, 2022
- Global Precision Medicine Software Market is anticipated to witness a lucrative CAGR of 10% - GlobeNewswire - June 8th, 2022
- Global Biomarkers Markets Research 2022-2027: Increased Adoption of Biomarkers in Personalized Medicine / Focus on Digital Biomarkers / Increased... - June 8th, 2022
- Every patient in this experimental drug trial saw their cancer disappear, researchers say - CBS News - June 8th, 2022
- The Middle East molecular diagnostics market is projected to reach $1,017.7 million by 2031 from $493.1 million in 2020, at a CAGR of 6.72% during the... - June 8th, 2022
- It's time to move past Aduhelm and focus on a broader Alzheimer's drug pipeline - STAT - June 8th, 2022
- Can the industry elevate the success rate of cancer trials? - OutSourcing-Pharma.com - June 8th, 2022
- Purdue Polytechnic Institute and Purdue University Global collaborating on partnership with the University of Puerto Rico - Purdue University - June 8th, 2022
- Illumina Announces Next Generation Products and Data at AGBT General Meeting to Advance Innovative Customer Solutions - PR Newswire - June 8th, 2022
- AdhereTech and Massive Bio, Two of NYC Digital Health 100 most Promising Start-Ups, Announce AI-Enabled, Patient-Centric Oncology Solutions... - June 8th, 2022
- Time to Rethink Metformin as First-Line Therapy? Perspective from ADA 2022 - Endocrinology Network - June 8th, 2022
- PreludeDx Presents New DCISionRT Data on the Effectiveness of Endocrine Therapy in DCIS Patients at the ASCO 2022 Annual Meeting - 69News WFMZ-TV - June 8th, 2022
- BITS Pilani Hyderabad to conduct 'Precision Medicine 2022' event tomorrow - United News of India - June 8th, 2022
- Global Laboratory Information Systems (LIS) Market to Reach US$2.4 Billion by the Year 2026 - Yahoo Finance - June 8th, 2022
- Medical Nutrition Market Promising Growth Opportunities and Forecast 2027 - Digital Journal - June 8th, 2022
- 57% of Organizations in India are at the Startup Stage of Genomics High-Performance Computing Infrastructure - APN News - June 8th, 2022
- Cellworks Singula TRI Provides Personalized OS and PFS Predictions for 18 NCCN Guideline GBM Therapies - StreetInsider.com - June 8th, 2022
- Inspiration for the laboratory of tomorrow - Chemie.de - June 8th, 2022
- Global Nanomaterials in Personalized Medicine Market (Impact Of COVID-19) Growth, Overview With Detailed Analysis 2022-2028 Queen Anne and Mangolia... - May 8th, 2022
- The global biomarkers market is expected to grow at a CAGR of 11.44%. - Yahoo Finance - May 8th, 2022
- Bioinformatics Market Size, Share, And Trends Analysis Report, By Application (Drug Development, Protein Function Analysis, Gene Therapy, Molecular... - May 8th, 2022
- Link between EBV and MS may give clues to the cause of long COVID - The Arizona Republic - May 8th, 2022
- Improving Cell Cultures with Thermoresponsive Coatings - Genetic Engineering & Biotechnology News - May 8th, 2022
- Reevaluating, Reimagining, And Reinventing Healthcare: Innovation In A Post-Pandemic World - Forbes - May 8th, 2022
- Study of Cancer Genetics to Help with Targeted Treatment - VOA Learning English - May 8th, 2022
- Increased demand for Molecular diagnostics after the COVID-19 outbreak - The Financial Express - May 8th, 2022
- CIOs' 5-year plans for precision medicine and emerging technologies - Healthcare IT News - January 30th, 2022
- SeqOne Genomics Closes 20M Series a to Accelerate the Deployment of Its Genomic Medicine Platform - Business Wire - January 30th, 2022
- Study: In IBS patients, cognitive behavioral therapy modulates the brain-gut microbiome and helps relieve symptoms - UB News Center - January 30th, 2022
- (New Report) Digital Genome Market In 2022 : The Increasing use in Diagnostics, Agriculture & Animal Research, Personalized Medicine, Drug... - January 30th, 2022
- Silencing a faulty gene may uncover clues to rare forms of ALS - National Institutes of Health - January 30th, 2022
- Plants, Bioprinting and Orbital Plumbing Fill Crew's Thursday Schedule - NASA - January 30th, 2022