Brisbane, Australia, 18 February 2020 — ResApp Health Limited (ASX:RAP), a leading digital health company developing smartphone applications for the diagnosis and management of respiratory disease, is pleased to announce that it has successfully completed functional testing of both handheld and wearable device prototypes received from UK-based medical device companies, Avanti Med Limited and OSI Electronics. These devices expand ResApp’s product portfolio to address specific use cases.
The Android™-based, ruggedized handheld device is a low-cost option, complementary to smartphones, for using ResApp’s respiratory disease diagnosis apps in specific in-person clinical environments. The handheld has a high-resolution 5-inch LCD capacitive touchscreen, a high-performance quad-core ARM 64-bit processor, a high-quality microphone and a long-lasting battery powering up to two days of typical use. It is intended to be CE Marked according to European regulations.
The wearable monitor provides an easily worn, unobtrusive platform for up to three days of continuous monitoring of patients with chronic diseases such as chronic obstructive pulmonary disease and asthma.
Tony Keating, CEO and Managing Director of ResApp commented, “We are exceptionally pleased with the performance of the first functional prototypes delivered by Avanti and OSI on schedule. Complementing our ability to deploy ResAppDx on smartphones, this new handheld device will provide customers with a ruggedized option for in-person clinical environments that demand specific features. Looking forward, the wearable monitor provides a unique platform for commercialising new products aimed at assessing and predicting respiratory disease progression.”
Further clinical, electrical and usability evaluation is now underway, with CE Mark approval targeted in the first half of calendar year 2020.
The completion of functional testing of both the handheld and wearable devices satisfies the first of three milestones under the device development agreement (ASX: 29 May 2019). Accordingly, ResApp will make a payment of AU$500,000 for each device and has elected to pay in shares. A total of 4,773,068 shares will be issued at a deemed price of $0.2095 (calculated using 80% of the volume-weighted average price of shares in the 30 days preceding the satisfaction of the milestone). The shares will be issued under the company’s 15% placement capacity.
About ResApp Health Limited
ResApp Health Limited (ASX: RAP) is a leading digital health company developing smartphone applications for the diagnosis and management of respiratory disease. ResApp’s machine learning algorithms use sound to diagnose and measure the severity of respiratory conditions without the need for additional hardware. Clinical studies have demonstrated accurate diagnosis of lower respiratory tract disease, upper respiratory tract infection, pneumonia, bronchiolitis, croup, asthma exacerbation/reactive airway disease, chronic obstructive pulmonary disease, chronic obstructive pulmonary disease exacerbation and obstructive sleep apnoea. ResApp’s smartphone-based acute respiratory disease diagnostic test, ResAppDx-EU, is CE Marked in the European Union and TGA approved in Australia. Potential customers of ResApp’s products include healthcare providers in telehealth, emergency department, urgent care and primary care settings as well as humanitarian organisations in the developing world. For more information, visit www.resapphealth.com.au