News: Zicom Group invests in Singapore growth phase medtech Histoindex

Zicom Group (ASX:ZGL) and Singapore Government agency SPRING Singapore will jointly make their first investment of S$2 million (A$1.9 million) into growth phase medtech start-up Histoindex Pte Ltd.

Histoindex’s state-of-the-art technology is focused on imaging and quantitative analysis of unstained liver tissues for liver fibrosis and cancers which can enable personalised treatment.

The technology has been validated by more than 2,000 patients in China, Europe and U.S. and can be expanded to cover multi-organs as part of its technology road map.

The joint venture is developing a Liver Cloud to digitize the technology as a platform to integrate the entire potential Chinese market that is made up of patients, hospitals, healthcare institutions, research institutes, pharmaceutical suppliers and potentially developing it into an on-line transactional medium for the various users.

Histoindex has entered into a growth stage. Its revenue to 30 June 2015 are expected to reach S$2m.

Revenue growth is expected to increase exponentially in the future when the Liver Cloud is ready and its products obtained regulatory approvals for clinical use in hospitals.

At present the products are basically used in research and drug evaluation.

Zicom’s wholly-owned subsidiary Zicom MedTacc Pte and SPRING have committed S$15 million each to invest growth phase medtech start-ups over the next 4 years.

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