Lifecare AS (LIFE-ME) has a 25% ownership in Digital Diagnostics AG, who is now
developing a New 5 minute coronavirus test which delivers clear results on
infection.

Lifecare AS has previously established a joint venture with Digital Diagnostics
AG in Germany. Digital Diagnostics (DD) will finance the remaining costs of
completing the development of Lifecare’s implantable continuous glucose sensor
named Sencell. In return, Lifecare AS will give Digital Diagnostics AG a
non-exclusive and non-competitive license agreement for use Lifecare AS’
technology. Lifecare AS keeps all its rights to its existing IP and has full
access to future IP. 

Digital Diagnostics will explore how Lifecare’s technology can be used outside
the field of glucose monitoring and data collection, such as in e-health, big
data and lifestyle technologies. 
Additional technological development by Digital Diagnostics AG has the goal to
rapidly develop a new type of sensor device that can be used for immediate tests
for the new SARS coronavirus. In comparison to currently available rapid tests,
the SARS-CoV-2 MEMS 5 Minute Test™ directly detects the virus over the entire
course of the infection and can be read immediately, without the need for a
laboratory.

The SARS-CoV-2 MEMS 5 Minute Test™ is created as a pocket size lab and can be
used in four steps anywhere on site by general practitioners, paramedics and
nursing staff without any training. The SARS-CoV-2 MEMS 5 Minute Test™ provides
test results with greater accuracy at any point during the course of the
infection than previously available rapid test strips. The first prototypes of
the biosensor will be available in May 2020.        
Compared to previously known rapid tests looking for the presence of antibodies
in the test-liquid, the SARS-CoV-2 MEMS 5 Minute Test™ leads to a clear “YES” or
“NO” result regarding the presence of the actual virus in the test fluid and
eliminates the time- and cost consuming transport of samples to a laboratory.
The new digital diagnostic platform enables the rapid testing of millions of
people and real-time monitoring of the disease spreading. By connecting the
digital sensor to a secure, encrypted analytics platform, regional viral
hotspots can be detected in real-time and immediately contained.

Faster and more accurate than other rapid tests.

The results of the SARS-CoV-2 MEMS 5 Minute Test™ can give a clear “YES” or “NO”
statement about the presence of the virus in the test fluid. The great advantage
of this method is that the virus can be detected directly — with a very high
accuracy. In contrast, all other rapid tests known to date are based on the
detection of antibodies. But antibodies are not detectable in plasma until 7 to
10 days after infection. However, those infected are already infectious in the
first week of contact, which is one of the reasons for the rapid spread of the
pandemic in all countries. There is currently no other reliable, cost-effective
rapid test that can measure the virus directly in near-real time and at a very
early stage during the incubation phase.

Link to the complete press release by Digital Diagnostics can be found at
“Lifecare.no”:

https://www.lifecare.no/blog/lifecare-and-digital-diagnostics-is-now-developing-
a-new-5-minute-coronavirus-test