30 Jul, 2019, 14:07 ET
OKLAHOMA CITY, July 30, 2019 /PRNewswire/ -- Progentec Diagnostics, Inc. and Karate Health, Inc. announced today that they have merged, offering laboratory testing and digital technologies for the diagnosis and management of lupus (SLE), multiple sclerosis (MS), and other autoimmune diseases. The combined entity retains the Progentec name and will be headquartered in Oklahoma City, OK.
Building upon the strong partnership between the two companies, this merger is a substantive step towards the Progentec mission of developing comprehensive disease management solutions. "Karate Health provided high-quality digital tools directly to patients for personal health tracking. By combining these insights with Progentec's state-of-the-art diagnostics, we will deliver unparalleled and actionable information to the clinicians tasked with managing autoimmune diseases," shared Mohan Purushothaman, Ph.D., CEO of Progentec.
Progentec was recently awarded a Fast-Track Small Business Innovation Research (SBIR) grant from the National Institute of Allergy and Infectious Diseases (NIAID). The company will continue research efforts to evaluate the accuracy and predictive power of blood biomarker laboratory technologies. Progentec's experienced team of clinical researchers and laboratory operations experts will be joined by Arif Sorathia and Brett Adelman, the co-founders of Karate Health. Sorathia and Adelman will lead digital initiatives including the exploration and development of digital therapeutics, the expansion of direct-to-patient toolkits, and the refinement of 21 CFR Part 11 compliant data-capture tools.
Karate Health developed patient empowerment and engagement solutions for people living with multiple sclerosis (MS), rheumatoid arthritis (RA), Crohn's disease, type 1 diabetes, and other complex conditions. Over 350,000 people have visited the platform, using Stool (a bowel movement tracking app), Tackle Fatigue (a fatigue management app), AutoimmuneOrNot (a symptom tracking tool), FlareCall (voice analysis technology – in development), and health literacy websites to manage their health. Karate Health also collaborated with pharmaceutical company partners to elucidate the patient voice. In a recent such collaboration, Adelman and Sorathia shared a poster presentation on preferences, needs and opportunity areas for US Multiple Sclerosis caregivers at the 2019 Consortium of Multiple Sclerosis Centers (CSMC).
"We are excited to take this step forward in empowering patients and placing their needs at the center of healthcare decisions," said Sorathia. "Hybrid care-management solutions that include objective and subjective measures, powered by artificial intelligence, will help identify personalized best practices."
Added Adelman, "Progentec's solutions will ensure that clinicians are in the best position possible to treat patients with these complex conditions."
The merger was supported by Progentec's existing investors, which include i2E, OCA Ventures, and others. Other participating investors include Entrepreneurs Roundtable Accelerator.
About Progentec Diagnostics, Inc.
Progentec is committed to improving access and health outcomes for patients in therapeutic areas with a high level of unmet need by combining clinically-validated diagnostic interventions with state-of-the-art digital technologies. Through collaborations with research institutions and health practitioners around the world, Progentec is working to reduce mortality and morbidity while improving care management and service delivery for chronic health conditions.
Statements contained herein that are not historical facts are forward-looking statements that represent management's beliefs and assumptions as of the date of this news release based on currently available information. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot assure that these expectations will prove to be correct. Such statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statements.
SOURCE Progentec Diagnostics, Inc.
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