Transcription of Discussion by ResApp Health Limited (ASX:RAP) Managing Director and CEO, Tony Keating
So ResApp Health Limited (ASX:RAP) is a digital health company that’s developing tools for managing and diagnosing respiratory disease. Essentially we turn the smartphone in your pocket into a true medical device. We founded the company in late 2014. But the technology’s been developed by the University of Queensland since 2009, where it was funded by the Bill and Melinda Gates Foundation. We listed on the ASX in July of 2015; we now have a market cap of just under $150 million.
So the technology that we have developed, alongside the University of Queensland, are machine loading algorithms that look at signatures in a person’s cough sound, and match those signatures to disease. So think of how shazam works for matching music to an artist and a title, think our Siri works and recognises your voice and converts your speech into text. Similar sort of algorithms, similar sort of idea underlines the technology.
We’ve initially demonstrated in the clinic that we can diagnose the majority of childhood diseases, from pneumonia to asthma, to bronchiolitis, to croup, to upper respiratory tract infections. And we’re now moving into an adult clinical study, to see if we can move to adult diseases as well.
So the paediatric clinical studies at Joondalup and Princess Margaret Hospitals, both in Perth, we have about 600 patients enrolled in that clinical study, over the last six months. And as I’ve said, we’ve demonstrated that we can very accurately diagnose diseases from that clinical group. So we kicked off the adult clinical study in December of last year, initially at Joondalup Hospital in Perth. We’ve just announced that we’ve extended that study to run out of the Wesley Hospital in Brisbane, as well. We have about 100 patients through that study. We expect some results from that study in the next quarter.
So we see a very large opportunity for us in the Telehealth industry, where we can deliver a respiratory disease diagnostic test, alongside a Telehealth consultation. So our route to market there is through partnership with these Telehealth service providers, who already have tens of millions of Americans as their customers. Our technology is such that we can integrate directly into their platform, giving us immediate access to that large number of customers.
We have $2.7 million of cash in the bank to date and that’s enough funding to take us through a US clinical study, as well as US FDA approval. At that point in time, once we have US approval, we expect our first revenues to come through from US partners. So in 12 months, we should have completed our US clinical study, we should have completed our US FDA approval. And we’ll have a product that is being used by the millions of Americans, who are using Telehealth to date.