Catalyst Awaiting contract news....Company is in talks with another company (besides Sysmex) for pregnancy tests on your smart phone ....
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In addition, we are in the early stages of developing a unique strip design aimed at the OTC market that would enable the majority of the electronic and power management functions to be run by a smart phone, which would significantly reduce the manufacturing cost of a disposable device. In essence the test strip and our detection sensor would be contained in a disposable cartridge which would plug into a smart phone on which would run a downloaded “app” for the computation, test result display and other features such as the management of historical results.
The market for female wellbeing, which includes digital home pregnancy and fertility testing, was estimated to be worth approximately US$1.5 billion globally in 2012. During the course of 2013 and through to the end of March 2014, we undertook two extensive testing studies for a third party (“A Inc.”) to assess the suitability of our technology to create a disposal pregnancy test kit, using its proprietary test strips. The results of those studies were successful as compared to existing product results. However, A Inc. has determined that a decision to take development further is to be deferred until the early part of 2015, since other projects within their portfolio have been prioritized. We continue to remain close to A Inc., and will seek to re-establish our discussions with them at the appropriate time.
Since the period ended June 2014, we have engaged in discussions with a third party with a view to developing a suitable detection system for that third party’s new OTC DNA based health test, utilizing our proprietary technology, to be aimed at the fitness and health market space, initially in the U.S. Currently, the assay to be detected has been developed as a color change test result; our technology will provide a digital readout to display test results. Currently, this type of OTC test does not require approval from the FDA, reducing significantly both the cost and time to bring a product to market. Discussions are at an early stage, and we are assessing the suitability of our technology to provide the detection system. We have not yet entered into any formal agreement and there can be no assurance that a formal agreement will materialize and be concluded.
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