ResApp Limited, a University of Queensland (UQ) startup has been acquired by Pfizer, the world number one health, pharmaceutical and biotechnology corporation.
ResApp Health Limited (ASX:RAP), a Brisbane based digital health company developing smartphone applications for the diagnosis and management of respiratory disease was acquired yesterday 26th September by Pfizer in a deal that is said to worth $179 million.
ResApp's Technology which was originally develop by a team of reseachers lead by Associate Professor Udantha Abeyratne of the School of Information Technology and Electrical Engineering works by analysing the sound of the cough and breathing of a patient to determine the state of the respiratory tract simply by using a smartphone.
The technology records a patient’s cough and breathing on a smartphone, analyse the sounds and some other simple symptoms to diagnose and determine the severity of various respiratory diseases such as asthma pneumonia, bronchiolitis and chronic obstructive pulmonary disease using this insight.
While commenting on the outcome of the deal, the elated University of Queensland (UQ) Vice-Chancellor Professor Deborah Terry said,
The acquisition was an outstanding outcome for the company, the University and the associated researchers.
It has been proved that the technology, driven by highly accurate algorithm perform creditably well on a patient who doesn't wear surgical mask and the one who wear it. It has also been proved to be an effective tool for Covid-19 screening.
UniQuest a commercialisation company of the University of Queensland licensed the technology to ResApp.
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