Colworth Park cased Concepta Diagnostics has signed an exclusive global license agreement with Abingdon Health for the use of its App Dx IP for human pregnancy and fertility.
The UK-personalised healthcare company said the deal will allow its customers to access rapid test results, further information and remain connected with supporting services at home.
A smartphone software, App Dx uses an in-built camera functionality to read single or multiple test lines to give test results and provides ‘lab-quality data’ for immediate viewing in a clinic.
Tests can be performed rapidly in any location, the group outlined, and allows any patient and/or healthcare professional access to advice and easy connectivity to a healthcare team.
Concepta and Abingdon Health will commence development work in May 2020.
The partnership follows a recent outsourcing agreement with Abingdon for Concepta’s home-use fertility tracking and pregnancy testing system, myLotus®.
The group said App Dx represents a platform that responds to evolving market needs as consumer connectivity in the femtech space ‘continues to build momentum.’
According to consulting firm Frost & Sullivan, the femtech market revenue is expected to reach $1.1 billion by 2024, growing at a compound annual growth rate (CAGR) of 12.9%.
Penny McCormick, Chief Executive of Concepta said the licence will help the group’s patients with testing “in an even more convenient way that is complementary to our portfolio.”
“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,” adde Chris Yates, Chief Executive of Abingdon Health.