Asep Signs Joint Venture Term Sheet with Leading Chinese Medical Diagnostic Company Sansure Biotech

2023-01-30

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Asep Medical Inc. (asepmedical.com) is dedicated to addressing antibiotic failure by developing novel solutions for significant unmet medical needs The deal highlights the growing global interest in Asep Inc.'s early sepsis diagnostic. (Credit: National Cancer Institute Cancer Institute on Unsplash) Asep Medical Holdings Inc. (“Asep Inc.” or the “Company”) (CSE: ASEP) (OTCQB: SEPSF) is pleased to announce that it has signed a joint venture term sheet with a leading Chinese medical diagnostic company, Sansure Biotech Inc. (Sansure). The term sheet was signed on September 29, 2022. Both parties will continue to negotiate the specific collaboration terms toward the goal of entering into a definitive agreement in the coming months. The deal highlights the growing global interest in Asep Inc.’s early sepsis diagnostic, developed using artificial intelligence, which has proven highly accurate in clinical studies to date and is projected to save lives, significantly impact hospitals’ bottom line, and reduce antibiotic usage in non-sepsis patients thus preventing antibiotic resistance. The term sheet is a road map for a joint venture in preparation for the research, development, use, sublicensing and commercialization of SepsetER, Asep Inc.’s first-generation sepsis diagnostic kit for use in the Chinese market. As part of this agreement, Sansure will make a capital investment in the joint venture, and Asep Inc. will sublicence its SepsetER patent rights for the Chinese marketplace and receive a royalty when the test is marketed. According to the US-based National Center for Biotechnology Information (pubmed.ncbi.nlm.nih.gov), in 2015, nearly 2 million people died in China from sepsis.1 The frequency of deaths in that country is unusually high (66.7 per 100,000 people), which is why Chinese biotechnology companies are interested in a more advanced diagnostic tool. A 2021 meta-analysis by the Department of Emergency Medicine, Tianjin Medical University General Hospital and published by BioMed Central Ltd. (biomedcentral.com) concluded that “the frequency and mortality of sepsis and septic shock in China were much higher than North America and Europe countries.” 2 “Sansure is one of the largest companies selling PCR-based diagnostic assays, which is the technology utilized in our SepsetER test,” stated Dr. Robert E. W. Hancock, Founder, CEO and Board Chair of Asep Inc. and developer of the SepsetER test. “This represents an endorsement of the potential of our assay and its importance to human medicine.” Source: Company Press Release

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