ResApp receives final design files for wearable devices

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ResApp Health (ASX:RAP), a digital health company developing smartphone applications for the diagnosis and management of respiratory disease, says it has received a set of final design files, reports and supporting documents for the handheld and wearable devices under development by Avanti Med and OSI Electronics.

The Android-based handheld device is a low-cost option for using ResApp’s respiratory disease diagnosis apps in specific in-person clinical environments.

The wearable monitor provides a worn, unobtrusive platform for up to three days of continuous monitoring of patients with chronic respiratory disease.

The company said clinical, electrical and usability evaluation is underway, and the results will be combined with the design files to form the CE Mark Technical File. CE Mark approval is on target to be achieved in the first half of this calendar year.

It said receipt of design files of both devices satisfies the second of three milestones under the device development agreement. ResApp will make a payment of $500,000 for each device and it has elected to pay in shares. A total of 9,090,909 shares will be issued at a deemed price of $0.11 (calculated using 80 per cent of the volume-weighted average price of shares in the 30 days preceding the satisfaction of the milestone). The shares will be issued under the company’s 15 per cent placement capacity.