Narhex Life Sciences (ASX:NLS) has completed the acquisition of ResApp Diagnostics Pty Ltd and will now change its name to ResApp Health.
ResApp has an exclusive licence from the University of Queensland (“UQ”) to develop mobile medical applications for the diagnosis and management of respiratory disease.
The technology is based on a machine learning algorithm that uses sound alone to diagnose and measure the severity of a respiratory condition.
This algorithm has been tested for pneumonia and asthma diagnosis in a clinical proof of concept study of 91 patients by UQ through funding from the Bill and Melinda Gates Foundation.
The company plans to conduct clinical studies of the technology.
Narhex had issued 93,750,000 shares and 93,750,000 performance shares to the ResApp vendors as consideration for the acquisition.
The company is now finalising all outstanding ASX conditions for reinstatement and will update the market once a reinstatement date has been confirmed.
It will trade under the new code RAP.
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