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Asep Inc. Signs Joint Venture Term Sheet with Leading Chinese Medical Diagnostic Company Sansure Biotech Inc. in Preparation for the Commercialization of the Sepset(ER) Sepsis Diagnostic Test in China | ||
By: PR Newswire Association LLC. - 28 Jan 2023 | Back to overview list |
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VANCOUVER, BC, Jan. 27, 2023 /PRNewswire/ - Asep Medical Holdings Inc. ("Asep Inc." or the "Company") (CSE: ASEP) (OTCQB: SEPSF) is pleased to announce that it has signed a joint venture term sheet with a leading Chinese medical diagnostic company, Sansure Biotech Inc. (Sansure). The term sheet was signed on September 29, 2022. Both parties will continue to negotiate the specific collaboration terms toward the goal of entering into a definitive agreement in the coming months. The deal highlights the growing global interest in Asep Inc.'s early sepsis diagnostic, developed using artificial intelligence, which has proven highly accurate in clinical studies to date and is projected to save lives, significantly impact hospitals' bottom line, and reduce antibiotic usage in non-sepsis patients thus preventing antibiotic resistance. The term sheet is a road map for a joint venture in preparation for the research, development, use, sublicensing and commercialization of SepsetER, Asep Inc.'s first-generation sepsis diagnostic kit for use in the Chinese market. As part of this agreement, Sansure will make a capital investment in the joint venture, and Asep Inc. will sublicence its SepsetER patent rights for the Chinese marketplace and receive a royalty when the test is marketed. According to the US-based National Center for Biotechnology Information (pubmed.ncbi.nlm.nih.gov), in 2015, nearly 2 million people died in China from sepsis.1 The frequency of deaths in that country is unusually high (66.7 per 100,000 people), which is why Chinese biotechnology companies are interested in a more advanced diagnostic tool. A 2021 meta-analysis by the Department of Emergency Medicine, Tianjin Medical University General Hospital and published by BioMed Central Ltd. (biomedcentral.com) concluded that "the frequency and mortality of sepsis and septic shock in China were much higher than North America and Europe countries." 2 "Sansure is one of the largest companies selling PCR-based diagnostic assays, which is the technology utilized in our SepsetER test," stated Dr. Robert E. W. Hancock, Founder, CEO and Board Chair of Asep Inc. and developer of the SepsetER test. "This represents an endorsement of the potential of our assay and its importance to human medicine." ABOUT SANSURE BIOTECH INC. ABOUT ASEP MEDICAL HOLDINGS INC. Sepset Biosciences Inc. (sepset.ca) is developing a diagnostic technology that involves a patient gene expression signature that predicts severe sepsis, one of the significant diseases leading to antibiotic failure, since antibiotics are the primary treatment for sepsis. Despite this, sepsis is responsible for nearly 20% of all deaths on the planet. The SepsetER test is a blood-based gene expression assay that is straightforward to implement, and results are rapidly obtained based on blood samples taken in the emergency room or intensive care unit. This proprietary diagnostic technology differs from current diagnostic tests in enabling diagnosis of severe sepsis within 60-90 minutes of initiating the test, while other diagnostics provide a diagnosis after ~15 hours but can be as long as five days. Asep Inc. believes this will enable critical early decisions to be made by physicians regarding appropriate therapies and reduce overall morbidity and mortality due to sepsis. ABT Innovations Inc.'s (abtinnovations.ca) peptide technology covers a broad range of therapeutic applications, including bacterial biofilm infections (medical device infections, chronic infections, lung, bladder, wound, dental, skin, ear-nose and throat, sinusitis, orthopaedic, etc.), anti-inflammatories, anti-infective immune-modulators and vaccine adjuvants. FORWARD-LOOKING STATEMENTS —
View original content to download multimedia:https://www.prnewswire.com/news-releases/asep-inc-signs-joint-venture-term-sheet-with-leading-chinese-medical-diagnostic-company-sansure-biotech-inc-in-preparation-for-the-commercialization-of-the-sepseter-sepsis-diagnostic-test-in-china-301732815.html SOURCE ASEP Medical Holdings Inc. |
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