The Directors of Acuvax Ltd (ACU) are pleased to advise that, subject to a satisfactory outcome on due diligence, the Company has negotiated an acquisition of a sophisticated non-invasive early detection diagnostic technology. The Technology has been developed over many years by an Israel-based company and is designed to diagnose more than 200 illnesses, disorders and diseases in humans. Several clinical trials have been completed to date and the medical device product is now ready for full commercialisation. The medical device is safe, painless, non-invasive, portable, economical and clinical trials to date across numerous areas of patient health have demonstrated a compelling level of accuracy. The Technology can be used as a point-of-care first-stage screening tool able to identify specific pathologies in the general population, prior to advancing patients to appropriate confirmative diagnostic tests.
Revenues from the Technology are able to be generated from both upfront device purchases and ongoing ‘per use’ patient tests. Acuvax is poised to benefit from consolidating and controlling all aspects of the Technology including: research and development (incorporating clinical trials), intellectual property (“IP”) protection, manufacture, market positioning and pricing model flexibility. Acuvax will also negotiate distribution arrangements with parties already in talks for device orders for South Africa, Australia and parts of Asia. It is the Company’s aim to open up new markets by sourcing, vetting and securing either strategic alliances or distribution arrangements with groups that have the infrastructure, expertise, and financial and human resources necessary to maximise sales of devices and ongoing tests in their respective countries; whilst supporting those business partners and distributors with high quality production, continued product R&D and an ongoing peer-reviewed clinical trial program.