BEDFORD, England--(BUSINESS WIRE)--Global Access Health (GAH), a social enterprise dedicated to providing affordable medical products for global health, today formally introduced its first portfolio company, Global Access Diagnostics (GADx). GADx has been created to address gaps in the global provision of diagnostics with a focus on expanding affordable access to quality tests. The Company combines expertise in rapid diagnostics development from Mologic Ltd with low-cost manufacturing and scale-up capability of sister company, Global Access Diagnostics (GAD).
GADx is a social enterprise where all surplus is re-invested to deliver quality and affordable diagnostics to those in most need. This includes transferring diagnostic technology to low-middle income countries, delivering tests such as COVID-19 to communities in need, and developing tests for neglected diseases such as dengue, bilharzia, and river blindness. It is a unique initiative set up and supported by GAH which was formed in 2021 by a group of philanthropic funds and investors led by the Soros Economic Development Fund (SEDF), with support from the Bill & Melinda Gates Foundation1. Through this transaction, the group acquired Mologic and GAD to harness industry-leading expertise in developing and manufacture of rapid diagnostic technologies. Combining this expertise under the GADx single brand advances the organisation’s philanthropic goals to maximise its contribution to global healthcare.
In addition to its product portfolio, GADx offers world-leading expertise for contract research and development, as well as helping companies to scale-up manufacturing (prototyping to pilot-scale) with capacity to produce over 2 million test per day, and then facilitate local manufacturing and/or onward distribution throughout the world. Through decentralized research, development, and manufacturing in and for the Global South, GADx aims to address gaps in the provision of global diagnostics, in regions that profit-focused business has failed to address.
“Nearly half of the world’s population have little or no access to diagnostics; and only 1-in-5 people in low and low-middle income countries have basic diagnostic tests available to them." said Mark Davis, CEO of GADx R&D (formerly Mologic). He added: “GADx’s foundation is based on three pillars: leadership in research and development, manufacturing prowess and Our Core Mission: reinvesting surplus. We are building an innovative social enterprise that puts underserved communities above shareholders and aims to create legacies that bring sustainable change to healthcare and business.”
Sumin Koo, CEO of GAH, commented: “To be a leader in R&D, we brought in Mologic, a pioneer in rapid diagnostics and already participants in over 150 international research projects and working with globally recognised partners. The team’s expertise and products are at the forefront of human, animal, and agriculture diagnostics.” Sumin Koo, added: “This is paired with the strength of GAD’s novel manufacturing platform; holding the flexibility and expertise to accommodate one-off orders and scale-up for mass production, over 1million tests per day.”
Mark Radford, CEO of GADx Manufacturing (formerly GAD), added: “This is an exciting next step for GADx, harnessing our individual expertise in lateral flow testing to transform rapid diagnostics. We have very well-established contract manufacturing capabilities to provide custom, flexible and scalable solutions, from low- to high-volume. This single brand portrays our group vision for the future of diagnostic testing, we look forward to progressing this to get the best tests to the most people, for the lowest cost and do so sustainably.”
- Press release: Mologic to become a ‘Social Enterprise’ after acquisition by social impact funders and investors (19th July 2021): https://www.globalaccessdx.com/mologic-to-become-a-social-enterprise-after-acquisition-by-social-impact-funders-and-investors
