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EKF Diagnostics Hldg (EKF)
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Tuesday 10 September, 2019
EKF Diagnostics HldgPreferred Partner Arrangement with Mount Sinai
RNS Number : 7322L
EKF Diagnostics Holdings PLC
10 September 2019
EKF Diagnostics Holdings plc
("EKF", the "Company")
Preferred Partner Arrangement with Mount Sinai
Opportunity to support digital health platform for Inflammatory Bowel Disease
?
EKF Diagnostics Holdings plc (AIM: EKF), the?AIM listed point-of-care business, announces that it has entered into a non-exclusive Preferred Partner Arrangement (the "Agreement") with Mount Sinai Innovation Partners ("MSIP"). MSIP is responsible for driving the real-world application and commercialisation of discoveries and inventions made within the Mount Sinai Health System ("MSHS"), New York's largest integrated healthcare delivery system, encompassing eight hospitals, a leading medical school, and a large network of ambulatory practices throughout the greater New York region.
EKF has established a longstanding and close working relationship with MSIP, through the highly successful spin-off of Renalytix AI plc, the developer of artificial intelligence-enabled diagnostics for kidney disease, and in collaboration with the Icahn School of Medicine at Mount Sinai ("Mount Sinai"), the medical school of MSHS. This new agreement provides EKF with advanced access to further innovative commercial opportunities arising from MSHS owned technologies managed by MSIP. Such opportunities benefit from a clinician and demand-focused approach to developing commercially relevant healthcare products and services, and access to deep domain expertise in clinical disciplines and academia, commercial healthcare enterprises and other key stakeholders in the US healthcare market. EKF has had considerable success in developing and commercialising healthcare technologies internationally, both directly and with major partners.
In connection with the Agreement, the Company has signed a non-binding term sheet with Mount Sinai, which will allow the Company to explore the opportunity to support the licensing of technology originating from Mount Sinai to establish a novel digital health platform for earlier intervention in and better management of patients with Inflammatory Bowel Disease ("IBD").
IBD, including Crohn's disease and ulcerative colitis, is one of the most costly and complex incurable disease categories, with up to $31.6 billion estimated to be spent