ResApp Health Limited (ASX:RAP) CEO and Managing Director Dr Tony Keating provides an update on the company's growing suite of apps for the diagnosis and management of respiratory conditions and sleep apnoea, discussing its launch of the ResAppDx smartphone-based acute respiratory diagnostic test.
Melissa Darmawan: Hello. Melissa Darmawan for the Finance News Network. Joining me from ResApp Health (ASX:RAP) is CEO and Managing Director Dr Tony Keating. Tony, welcome back.
Tony Keating: Thanks, Melissa.
Melissa Darmawan: ResApp develops smartphone applications for the diagnosis and management of respiratory disease and more recently sleep apnoea. Can you tell us more about this?
Tony Keating: At ResApp we're building smartphone apps to help patients and their doctors diagnose and manage respiratory disease. We've been focused over the last five and a half years on the clinical validation and regulatory approval of those apps, and right now we're in an exciting time that we have regulatory approval here in Australia and Europe. We also have key telehealth deals to bring the product to market here in Australia and Europe.
Melissa Darmawan: Thanks, Tony. And what impact has COVID-19 had on the business?
Tony Keating: Globally, with COVID-19, we've seen an explosion in the use of telehealth. Many, many countries have now adopted telehealth as the primary method for talking to their doctor. For us, that's a huge global market opportunity. We've also seen COVID shine a light on the respiratory disease space, and so in general we've seen a lot of interest in ResApp globally because of the pandemic.
Melissa Darmawan: Now to your markets. Can you tell us more, starting with respiratory disease?
Tony Keating: Sure. Respiratory disease is the most common reason for someone visiting a doctor, and our main focus there is bringing ResAppDX, which allows clinicians to remotely diagnose respiratory disease over a telehealth consult. We think it's a huge opportunity to affect one of the most common reasons for someone calling up to use a telehealth appointment.
Melissa Darmawan: And sleep apnoea?
Tony Keating: Sleep apnoea is an interesting second market that we're accessing. Interestingly, roughly 80 per cent of people with sleep apnoea don't know that they have sleep apnoea, and one of the reasons behind that is that to be diagnosed with sleep apnoea today requires you to sleep in an uncomfortable hospital environment with a number of cables attached to your body. What we provide with SleepCheck is an easy-to-use, at-home sleep apnoea screening tool. It's just simply a smartphone placed on the bedside table that tells you when you wake up in the morning whether you're at risk of sleep apnoea or not.
Melissa Darmawan: In the past, you have spoken about the huge opportunity in US telehealth. Is that still being pursued, and where are you with the FDA approval for ResAppDX?
Tony Keating: Yeah, so US telehealth has seen a massive boom with COVID-19. We're expecting over a billion telehealth visits in the US this year because of COVID-19. Right now, we expect to submit what's called a Q-submission package to the FDA, either late this quarter or early next quarter. That package has what we believe to be a clear pathway forward to get FDA approval for ResAppDX. We're really looking forward to meeting with the FDA and stepping them through that pathway and getting their feedback.
Melissa Darmawan: Can you provide a snapshot on finances?
Tony Keating: As of the end of last quarter, we had $5.8 million in the bank. We also have some significant R&D rebates due in over the next few months. That leaves us really well positioned for all of next year to commercialise the technology.
Melissa Darmawan: Last question, Tony. Is there anything else you'd like to add?
Tony Keating: The key focus for ResApp that gets me really excited is the partnerships that we've been able to secure over the last few months. We're now working with Medgate, one of the leading telehealth providers in Europe. We're working with AstraZeneca, a name that many viewers will know as one of the leading global biopharmaceutical companies. We're really pleased with the traction that we're seeing with partners, and we look forward to now bringing those partnerships to fruition.
Melissa Darmawan: Dr Tony Keating, thanks for the update. Nice to meet you.
Tony Keating: Thanks, Mel.