- The agreement sets a roadmap for the commercialisation of Q-POC™ and its assays in China
- The two companies will collaborate to accelerate the development of new assays on the Q-POC™ platform
- Offers potential for component sourcing and manufacturing optimisation
NEWCASTLE UPON TYNE, UK, 6 September 2022. QuantuMDx Group Limited (“QuantuMDx”), today announces it has entered into a cooperation agreement with Sansure Biotech Inc. (“Sansure”), an in-vitro diagnostic solution provider based in Changsha, Hunan province, China, to accelerate the regional commercialisation of Q-POC™ and its assays, in China.
Under the terms of the agreement, QuantuMDx and Sansure will enter a global R&D, manufacturing and commercial partnership aimed to bring a comprehensive array of innovative, high-performance molecular diagnostic assays to the Q-POC™ platform. QuantuMDx will grant Sansure exclusive rights to Q-POC™ in China, for which QuantuMDx will receive licensing and royalty payments. QuantuMDx will also have the exclusive rights to sell Sansure-translated assays outside China.
This agreement follows a £15 million equity investment in November 2021, from Vita Spring IVD Fund, L.P., a Hong Kong-based venture capital firm focused on early and growth-stage medical companies with disruptive technologies and global market potential.
Financial terms of the agreement were not disclosed.
Jonathan O’Halloran, Chief Executive, QuantuMDx, said: “Sansure is an excellent partner for QuantuMDx in China as we look to increase our global presence. This cooperation agreement will now enable both companies to explore and leverage reagent, components of the Q-POC™ instrument and cassette assays for cost down opportunities and scalability in China, with an expectation to reduce our cost of goods. Coupled with Sansure’s expert knowledge of commercialising molecular diagnostics in the region, I believe we are well placed to build a strong presence in China and other territories in this important market.
“This agreement comes at a pivotal time for QuantuMDx following the recent launch of our new respiratory panel Q-POC™ SARS-CoV-2, Flu A/B & RSV Assay. As we all know, the attractiveness of Point of Need devices increases significantly with a wide assay menu. This agreement will enable us to rapidly expand our menu as well as help to drive our costs down.”
Dr. Jia Liu, VP of R&D at Sansure, said: “The ability to use QuantuMDx’s Q-POC™ platform across multiple indications, demonstrated by the recent launch of its respiratory panel, is very exciting. There is a serious unmet need for accurate Point of Need testing, and we are looking forward to working with the innovative team at QuantuMDx, with the ultimate goal of bringing precision healthcare solutions to Chinese patients with this highly innovative diagnostic platform and a tailor-made portfolio of assays.”
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Notes to editor:
About QuantuMDx
QuantuMDx is a progressive MedTech company passionate about empowering the world to control disease and reduce suffering. QuantuMDx solves real-world diagnostic problems by creating multiplex molecular solutions for the Point of Need.
QuantuMDx has global operations and strategic partnerships – keeping it at the forefront of molecular diagnostics.
Q-POC™ is a rapid, simple to use, portable, sample to answer multiplex PCR device. It has been designed for use in a range of real-world healthcare settings.
Q-POC™ and its tests, Q-POC SARS-CoV-2 Assay, a multiplex COVID-19 detection assay and Q-POC SARS-CoV-2, Flu A/B & RSV Assay, a multiplex, multi-disease target assay, are CE marked under the In Vitro Diagnostics Directive (98/79/EC) enabling use within Europe. Q-POC SARS-CoV-2 Assay is CTDA approved allowing use in UK. Q-POC SARS-CoV-2, Flu A/B & RSV Assay is under CTDA review. On 26th May the Q-POC instrument was CE marked under IVDR enabling continued use in Europe following the change in regulation.
QuantuMDx plans to launch a range of syndromic multiplex testing assays over the coming months and years.
For more information about QuantuMDx and Q-POC™, its rapid PCR point of care system, go to: www.quantumdx.com.
About Sansure:
Sansure is an in-vitro diagnostic solution provider founded in Changsha, Hunan province, China in 2008, with over 2,000 employees and a broad product portfolio. It is engaged in research and development, production and sales of diagnostic reagents and instruments. Sansure listed on the Shanghai Stock Exchange’s STAR Market on 28 August 2020 raising RMB2.0 billion (c.US$300 million), and as of 27 July 2022 had a market capitalisation of approximately RMB17.5 billion (c.US$2.6 billion). It was also one of the first molecular diagnostics companies to have its SARS-CoV-2 test kits approved in China, which are now sold to over 160 countries. Sansure’s founder and Chairman, Dr Li Zhong Dai, is a scientific advisor to Vita Spring. For more information about Sansure, go to: www.sansureglobal.com
For media enquiries and interview requests:
Emma Long, Marketing Communications Manager, QuantuMDx, M: +44 (0) 7495 341 930 T: +44 (0) 870 803 1234 E: emma.long@quantumdx.com
Chris Gardner, Matthew Neal and Lindsey Neville, Consilium Strategic Communications, +44 (0)20 3709 5700 / quantumdx@consilium-comms.com
For investor enquiries:
David Wilson, Nigel Barnes and Robin Sturken, WG Partners (Financial Adviser to QuantuMDx), +44 (0)20 3705 9330 / quantumdx@wgpartners.co.uk
