28 March 2023 | Tuesday | News
Image Source : Public Domain
Noul Co. Ltd (CEO : David Lim) announced that it has signed an agreement with The RIGHT Foundation to conduct a global clinical studies to determine the potential for public market access in malaria-endemic countries of Africa and Asia. Over the next three years, about four billion KRW (3.1 million USD) that Noul received from The RIGHT Foundation will be used to support global clinical studies and cost-effectiveness analysis of the miLab™.
To ensure the credibility of the result, Noul will collaborate with global institutions and national malaria programs such as PATH (Program for Appropriate Technology in Health), Swiss TPH (Swiss Tropical and Public Health Institute), GIDC (Ghana Infectious Disease Center), MNMCP(Malawi National Malaria Control Program) and University of Notre Dame in the U.S.
Malaria is a disease with a high demand for diagnosis, affecting more than 200 million people yearly. It has recently been facing great difficulties in diagnosis due to the increase of genetic mutations that are difficult to diagnose with existing RDT, and drug resistance problem. Through agreement, Noul and The RIGHT Foundation will conduct multi-country clinical studies to compare the diagnostic accuracy of the miLab™ with the result of the microscopic diagnosis and PCR analysis. Also, both parties will analyze the value and cost-effectiveness of the miLab™ in the global healthcare market, and accelerate public market entry through local registration.
David Lim, CEO of Noul stated "Through collaboration with The RIGHT Foundation, Noul will contribute to promoting health equity and the next level business performance based on internationally recognized references. We will continue to collaborate with various institutions to expand the miLab™ to become the global standard for diagnosis of malaria."
The RIGHT Foundation is a global health research funding foundation through the public-private partnership between the Government of Korea, Korean Life Science companies, and Bill & Melinda Gates Foundation, to address the medical and technological needs towards alleviating the burden of infectious diseases especially in developing countries. It provides a platform to catalyze collaborations between Korean and international researchers, product developers and public health workers to develop essential health technologies as global public good with the ultimate goal of improving health and health equity globally.