Health: Joining a German startup accelerator sends ResApp to two-year high
Health & Biotech
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Long-suffering ResApp (ASX:RAP) shareholders are finally starting to see the light of day — the company’s shares have hit their highest point in more than two years.
RAP shares jumped 15 per cent this morning to 31c, on news the company had been selected to join the health and biotech-focused accelerator Startup Creasphere Digital Health Program in Munich.
Not since July 2017, shortly after announcing a redo of an earlier failed trial, have ResApp shares been so attractive.
Startup Creasphere is a 12-week program, starting this month, that will see ResApp work with subject matter experts and mentors from the consumer healthcare business unit of $165 billion French multinational pharma giant Sanofi to explore opportunities to develop consumer health-focused respiratory disease products.
Tony Keating, ResApp CEO, said the news was the cherry on top of a positive few weeks.
“We are very excited to participate in the Startup Creasphere program to build and pilot a consumer health-focused product using our novel respiratory diagnostic algorithms,”he said.
“Collaborating with the consumer healthcare business unit of Sanofi during the program provides ResApp with an outstanding opportunity to explore the direct-to-consumer market alongside global industry leaders.”
The company has seen its share price grow double in the past month, thanks to a string of regulatory approvals for its software, which is designed to help diagnose respiratory diseases.
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