Aspira Women’s Health Announces OvaSuite(SM) Distribution Agreement in the Philippines

Rhea-AI Summary

Aspira Women’s Health Inc. signs a 5-year distribution agreement with Hi-Precision Laboratories, the largest medical laboratory in the Philippines, to market and distribute the OvaSuite portfolio in the country. The agreement includes royalties to Aspira for each test performed. This partnership aims to improve the detection of early-stage ovarian cancer in Filipino women, addressing the higher risk of ovarian cancer in the Philippines compared to other parts of the world.

Positive

• Partnership with Hi-Precision Laboratories opens up a new market for Aspira's OvaSuite portfolio
• The agreement includes royalties for each test performed, ensuring a steady stream of revenue for Aspira
• The partnership aims to address the higher risk of ovarian cancer in the Philippines compared to other parts of the world

Negative

• None.

Insights

Market Research Analyst

The exclusive distribution agreement between Aspira Women's Health Inc. and Hi-Precision Laboratories represents a strategic move to expand the reach of Aspira's OvaSuiteSM products. The Philippines, with a population exceeding 100 million, offers a substantial market for women's health diagnostics. The partnership leverages Hi-Precision Laboratories' extensive network and reputation, potentially accelerating market penetration and adoption of the OvaSuiteSM tests.

It is essential to consider the market dynamics and consumer healthcare spending patterns in the Philippines, which may influence the success of the product launch. The demand for advanced healthcare services is growing, reflecting an increasing awareness and willingness to invest in preventive health measures. The agreement could lead to increased revenues for Aspira through royalties, contingent upon the tests' adoption and the successful navigation of the local regulatory landscape.

Medical Research Analyst

Ovarian cancer detection is a critical area in women's health, with early diagnosis significantly improving patient outcomes. The Clinical Performance of a Multivariate Index Assay study highlights the potential impact of the OvaSuiteSM products in improving early-stage ovarian cancer detection rates. The Philippines' higher risk profile for ovarian cancer accentuates the importance of such diagnostic tools.

The distribution of OvaSuiteSM in the Philippines could not only enhance the standard of care but also provide valuable data for further research. The outcomes of this agreement will likely contribute to the body of evidence supporting the efficacy of Aspira's diagnostic tools, potentially influencing future adoption in similar markets.

Financial Analyst

The financial implications of the distribution agreement for Aspira Women’s Health Inc. hinge on the successful commercialization and adoption of the OvaSuiteSM portfolio in the Philippines. Royalty payments from Hi-Precision Laboratories present a recurring revenue model, which could improve Aspira's financial health. However, the upfront costs associated with market entry and regulatory approval processes must be weighed against anticipated royalties.

Investors should monitor the progress of regulatory approvals and the initial uptake of the tests post-launch. The ability of Hi-Precision Laboratories to effectively market and distribute the OvaSuiteSM products will be crucial in determining the long-term financial impact of the agreement on Aspira's earnings and stock performance.

Hi-Precision Laboratories, one of the largest medical laboratories in the Philippines, signs a 5-year OvaSuit^SM commercial distribution agreement

AUSTIN, Texas, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Aspira Women’s Health Inc. (“Aspira” or “the Company”) (Nasdaq: AWH), a bio-analytical based women’s health company focused on the development of gynecologic disease diagnostic tools, today announced the signing of a 5-year distribution agreement granting Hi-Precision Laboratories the exclusive right to market and distribute the OvaSuite^SM portfolio in the Philippines. The commercialization of OvaSuite products in the Philippines will commence upon receiving approval from the local regulatory authority. In consideration of the licenses and rights granted by Aspira, Hi-Precision Laboratories will pay royalties to Aspira for each test performed in the Philippines.

“We are thrilled to partner with one of the largest medical laboratories in the Philippines, an important step towards achieving our goal to make OvaSuite available worldwide,” said Nicole Sandford, President and Chief Executive Officer of Aspira. “Moreover, the Clinical Performance of a Multivariate Index Assay in Detecting Early-Stage Ovarian Cancer in Filipino Women study clearly demonstrated improvements in the detection of early-stage ovarian cancers when an Aspira test was incorporated in the clinical assessment of women presenting with an ovarian mass.”

Vannessa Ongsue, Vice President, Medical Services at Hi-Precision Laboratories stated, “Hi-Precision is excited to make the OvaSuite portfolio available to women and clinicians in the Philippines as research has suggested that women in the Philippines have a higher risk of ovarian cancer than in other parts of the world. Aspira’s blood tests are very valuable tools for clinicians that will lead to a higher standard of care for women in the Philippines.”

Hi-Precision Laboratories, the largest medical laboratory in the Philippines, provides a wide array of services from routine to esoteric specialty tests and is internationally certified and accredited by the Philippine Accreditation Bureau. With branches nationwide, Hi-Precision Laboratories conducted 79 million tests between 2014 and 2022 and has consistently received recognition as a top-quality service provider in the Philippines.

About Aspira Women’s Health Inc.
Aspira Women’s Health Inc. is dedicated to the discovery, development, and commercialization of noninvasive, AI-powered tests to aid in the diagnosis of gynecologic diseases.

OvaWatch^SM and Ova1Plus^® are offered to clinicians as OvaSuite^SM. Together, they provide the only comprehensive portfolio of blood tests to aid in the detection of ovarian cancer for the 1.2+ million American women diagnosed with an adnexal mass each year. OvaWatch provides a negative predictive value of 99% and is used to assess ovarian cancer risk for women where initial clinical assessment indicates the mass is indeterminate or benign, and thus surgery may be premature or unnecessary. Ova1Plus is comprised of two FDA-cleared tests, Ova1^® and Overa^®, to assess the risk of ovarian malignancy in women planned for surgery.

Our in-development test pipeline is designed to expand our ovarian cancer portfolio and addresses the tremendous need for noninvasive diagnostics for endometriosis, a debilitating disease that impacts millions of women worldwide. In ovarian cancer, our OvaMDx test is designed to combine microRNA and protein biomarkers with patient data to further enhance the sensitivity and specificity of our current tests. In endometriosis, EndoCheck^SM is the first-ever noninvasive test designed to identify endometriomas, one of the most commonly occurring forms of endometriosis. The EndoMDx^SM test is designed to combine microRNA and protein biomarkers with patient data to identify all endometriosis.

Forward-Looking Statements
This press release may contain forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including those relating to the timing and completion of any products in the pipeline development that are predictive in nature. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties, and other factors. These forward-looking statements generally can be identified by the use of words such as “designed to,” “expect,” “plan,” “anticipate,” “could,” “may,” “intend,” “will,” “continue,” “future,” other words of similar meaning and the use of future dates. Forward-looking statements in this press release and other factors that may cause such differences include the satisfaction of customary closing conditions related to the offering and the expected timing of the closing of the offering. These and additional risks and uncertainties are described more fully in the company’s filings with the SEC, including those factors identified as “risk factors” in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law.

Investor Relations Contact:
Torsten Hombeck, Ph.D.
Chief Financial Officer
Aspira Women’s Health
Investors@aspirawh.com

FAQ

What is the nature of the agreement between Aspira Women’s Health Inc. and Hi-Precision Laboratories?

The agreement is a 5-year distribution agreement granting Hi-Precision Laboratories the exclusive right to market and distribute the OvaSuite portfolio in the Philippines.

What is the ticker symbol for Aspira Women’s Health Inc.?

The ticker symbol for Aspira Women’s Health Inc. is AWH.

What is the goal of the partnership between Aspira Women’s Health Inc. and Hi-Precision Laboratories?

The goal is to make the OvaSuite portfolio available worldwide and improve the detection of early-stage ovarian cancer in Filipino women.

What is the significance of the partnership with Hi-Precision Laboratories for Aspira Women’s Health Inc.?

The partnership opens up a new market for Aspira's OvaSuite portfolio and aims to address the higher risk of ovarian cancer in the Philippines compared to other parts of the world.