ASX Health Stocks: Which crypto high-flyer is investing in Singular Health?

Singular Health receives $1 million investment from prominent crypto figure Craig Sellars
Adolescent recruitment into Dimerix’s ACTION3 Phase 3 trial to start after approval
Lumos test distinguishing viral from bacterial infection to be available in Australia and New Zealand

Singular Health Group (ASX:SHG) says it has received the $1m investment from crypto high-flyer Craig Sellars, announced in March and approved by shareholders in June.

SHG says the strategic investment is to be completed via a placement of 6,666,667 new fully paid ordinary shares in the company to Sellars at 15 cents/share, a 42% premium to the last closing price of 10.5 cents/share.

The company says now the funds have been received, the shares are anticipated to be allotted shortly. Sellars is a co-founder of the world’s largest and most commonly used cryptocurrency stable coin, Tether (USDT), and is renowned as a prominent technology executive and investor.

Sellars was attracted to investing in SHG after becoming a user of its 3Dicom technology.

“From the moment I first used the 3Dicom software, I knew that I was looking at the leading edge of medical visualisation technology, miles beyond any other similar offering,” Sellars said in an ASX announcment in March.

“The potential for doctors and patients to navigate the human body in this way using augmented reality will improve health globally.”

SHG believes Sellars brings a wealth of experience, valuable expertise and opportunities to SHG via his significant network, opportunities with blockchain technology, digital identity, consumer-facing technology applications, and privacy-preserving record platforms.

“We are very excited to have someone of such repute involved in Singular Health,” SHG managing director Denning Chong says.

“Craig’s involvement is a strong validation of the value of Singular Health and the demand of its software technology solution on a global scale.”

Dimerix get green light to recruit adolescents in ACTION3

Clinical-stage biopharmaceutical company Dimerix (ASX:DXB) says adolescents can start being recruited into its ACTION3 Phase 3 global clinical trial in patients with rare kidney disease focal segmental glomerulosclerosis (FSGS) after the Independent Data Monitoring Committee (IDMC) confirmed the dose of DMX-200 to be used for the 12-17 years cohort.

DXB says the adolescent approved dose is the same as the 120mg adult dose of its lead drug DMx-200 currently being administered in the ACTION3 Phase 3 trial which is given orally and twice daily.

In making this determination the IDMC reviewed the aggregate interim safety and pharmacokinetic data, including simulations in adolescents, from the adult cohort of the ACTION3 Phase 3 trial taken at the first interim analysis point in March 2024.

DXB says FSGS is a serious and rare disease that attacks the kidney’s filtering units, affecting at least 210,000 people globally with a recognised medical need for a new or improved treatment.

The company announced in March the ACTION3 Phase 3 trial had achieved success in its pre-specified interim analysis of the proteinuria (efficacy) endpoint, based on data from the initial 72 randomised patients.

The interim analysis suggests the potential for a statistically significant and clinically meaningful reduction in proteinuria at the study’s conclusion, which has now formally expanded into Part 2.

DXB says ~15 specialist paediatric nephrology centres across the UK, USA, Mexico, Brazil and Argentina have been selected to recruit adolescent patients with FSGS for the trial.

Lumos test to beat antibiotic overuse available in Australia

Lumos Diagnostics (ASX:LDX) has confirmed it will commence distribution of its FebriDx rapid point-of-care (POC) test to differentiate a viral from bacterial acute respiratory infection in Australia and New Zealand as it steps up its fight against antibiotic resistance.

FebriDx delivers results after 10 minutes from a fingerstick blood test and can be used to help rapidly and accurately manage infectious patients in primary care, emergency Departments, paediatric and other outpatient settings.

LDX, a leader in POC diagnostic technologies, has extended its global distribution to Regional Health Care Group (RHCG), a Henry Schein company in Australia and New Zealand, for its trademarked FebriDx POC test.

Nasdaq-listed Henry Schein is the world’s largest provider of health care solutions to office-based dental and doctors and already distributes FebriX to Portugal, Spain, the Netherlands, the UK and US.

LDX says RHCG is set to sell the FebriDx test throughout Australia and New Zealand with sales and marketing activities starting immediately.

Nasdaq-listed Henry Schein is the world’s largest provider of health care solutions to office-based dental and doctors. The company is the distribution of FebriX to Portugal, Spain, the Netherlands, the UK and US.

According to the World Health Organisation (WHO) antimicrobial resistance (AMR) is one of the top global public health and development threats.

At Stockhead, we tell it like it is. While Dimerix is a Stockhead advertiser, the company did not sponsor this article.