ASEP Medical soars on Nasdaq application, Chinese JV

Shares of ASEP Medical (ASEP Medical Stock Quote, Chart, News, Analysts, Financials CSE:ASEP) are leading the CSE today after the company updated its latest developments.

On November 17, Victoria-based ASEP announced that it was in the final stages of the approval process to list its shares of the Nasdaq.

The company, which was formed to address the global issue of antibiotic failure, is divided into three units, including Sepset Biosciences, which is preparing to launch an in vitro diagnostic test to treat sepsis, a disease that often leads to antibiotic failure.

That division, on November 21, announced a joint venture with Chinese medical diagnostic firm Sansure Biotech. That agreement will launch the product in Mainland China, the Hong Kong special administrative region, the Macao special administrative region and the Taiwan area, for eight years.

The company cited a study that found almost two-million people died of sepsis in China in 2015.

ASEP said this would be a major launch in a major market.

“Sansure is one of the largest companies in China with both manufacturing and distribution expertise in PCR-based diagnostic assays, which is the technology we use in our SepsetER test,” ASEP CEO Dr. Robert E. W. Hancock said. “This represents an endorsement of the potential of our assay and its importance to human medicine worldwide, as well as access to one of the largest markets in the world. We look forward to collaborating with the Sansure team as we bring this technology to market in China.”

At press time, shares of ASEP were up 27.8 per cent to $0.345.