ResApp Health (ASX:RAP), formerly Narhex Life Sciences, has re-commenced trading on the Australian Securities Exchange after successfully raising $4 million.
Proceeds will be used to accelerate additional clinical trials required to bring products to commercialisation.
Its path to commercialisation is significantly lower cost and time intensive compared to any of its peers due its unique software based application, which requires no hardware development or additional capital costs.
ResApp holds an exclusive licence from the University of Queensland to develop and commercialise mobile medical applications for the diagnosis and management of respiratory diseases.
These include pneumonia, bronchitis, chronic obstructive pulmonary disease (COPD) and asthma.
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.
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