(RTTNews) - Hepion Pharmaceuticals, Inc. (HEPA), a clinical stage biopharmaceutical company, Wednesday said it has entered into a binding letter of intent (LOI) with New Day Diagnostics LLC, a developer of non-invasive diagnostic tests, to commercialize diagnostic tests for celiac disease, respiratory multiplex (Covid/Influenza A/B and RSV), helicobacter pylori (H. pylori) and hepatocellular carcinoma (HCC).
These tests represent an addressable market size of more than $15 billion.
Currently, celiac, respiratory multiplex and H. pylori tests have CE marks and can be marketed across Europe.
"The CE marked tests provide Hepion with the ability to generate near term revenues in European Union countries by leveraging the existing distributor network relationships that New Day Diagnostics has established," said John Brancaccio, Executive Chairman and Interim Chief Executive Officer of Hepion.
"This alliance represents a strategic step forward in our mission to bring accessible, high-impact diagnostics to patients around the world," said Eric Mayer, CEO of New Day Diagnostics.
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