Partnership agreement with Abingdon Health
04 May 2020
Concepta customers to access rapid test results and support services from their smartphones
Concepta PLC (AIM: CPT), the innovative UK personalised healthcare company and developer of the proprietary self-test platform ("myLotus®"), the UK's most accurate home-use fertility tracking and pregnancy testing system, announces that it has signed an exclusive global licence agreement with Abingdon Health Limited ("Abingdon Health") for the use of its App Dx IP for human pregnancy and fertility.
App Dx uses cutting-edge software to transform a smartphone into a powerful lateral flow reader, combining rapid results delivery with flexible data management. By utilising in-built smartphone camera functionality, App Dx can read single or multiple test lines to give qualitative or quantitative test results, providing unambiguous lab-quality data for immediate viewing or secure transfer to a clinic or data hub.
App Dx unlocks the potential for Concepta customers to access rapid test results, further information and connectivity with supporting services at home. Tests can be performed in any location , enabling quick decision making and allowing the patient and/or healthcare professional to follow-up for getting the right advice and easy connectivity to a healthcare team. The inclusion of intuitive workflows and in-built visual instructions enhance the patient experience and reduce the chance of user error.
Concepta and Abingdon Health will commence d evelopment work in May 2020 . The partnership follows the recent outsourcing agreement with Abingdon Health for the manufacture of myLotus® and marks Concepta's future strategic intention to provide a complementary technology to the Company's existing portfolio, and a platform that responds to evolving market needs as consumer connectivity in the Femtech space continues to build momentum.
Penny McCormick, Chief Executive Officer of Concepta plc, commented:
"Our App Dx license provides us with a great opportunity to offer enhanced customer value and experience and allows us to help our patients with personalised testing and information in an even more convenient way that is complementary to our portfolio. In Abingdon, we are partnering with a strong and highly experienced development partner who leads in connected technology. Their credibility and depth of knowledge in the rapid diagnostic and software environment makes them a great partner for Concepta. We look forward to collaborating with them on this exciting platform."
Chris Yates, Chief Executive Officer of Abingdon Health, commented:
"Selecting our first consumer application for App Dx has been an important step for us, and in Concepta we have an ambitious partner that is very much looking ahead within the Femtech space. Abingdon's leading-edge App Dx technology is perfectly suited to enhance Concepta's digital health strategy and support this highly engaged user group through their fertility journeys."
Penny McCormick , Chief Executive Officer
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About Concepta PLC ( www.conceptaplc.com )
Concepta PLC is an AIM-quoted pioneering UK healthcare company that has developed a proprietary product, myLotus®, targeted at the personalized mobile health market with a primary focus on hormone testing and increasing a woman's chances of naturally getting pregnant and to provide insight to unexplained infertility.
myLotus® is currently the only consumer product which allows both quantitative and qualitative home (self-test) test measurement of a woman's personal luteinizing hormone (LH) during ovulation and human chorionic gonadotropin (hCG) hormone level during pregnancy, facilitating higher conception rates and early diagnosis of fertility issues. The proposition of myLotus® is to empower women to better understand their hormone levels and menstrual cycle and help women conceive naturally by identifying their window of fertility and optimal time for conception.
The Company has received CE-mark certification for myLotus® and has launched its first product in the UK. The Company is preparing plans to roll-out across the core EU countries in 2020.
myLotus® is expected to be beneficial to users who have been unable to conceive after 6 months of trying. This highly motivated target group of women won't typically be offered medical intervention until after 12 months of unsuccessfully trying to conceive, with IVF not usually offered until after two years of trying to conceive. Research indicates couples start to take positive action ahead of this time typically with little medical support to help them do so.