Global Access Health (GAH), a social enterprise dedicated to providing affordable medical products for global health, has formally introduced its first portfolio company, Global Access Diagnostics (GADx).
Shutterstock
Business people shaking hands, finishing up meeting. Successful businessmen handshaking after good deal.
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 with the manufacturing and scale-up capability of its sister company, Global Access Diagnostics (GAD).
GADx is a social enterprise where all surplus is re-invested to deliver 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. The initiative is 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 Foundation. Through this transaction, the group acquired Mologic and GAD to harness expertise in developing and manufacture of rapid diagnostic technologies.
GADx also offers 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 decentralised research, development, and manufacturing in and for the Global South, GADx aims to address gaps in the provision of global diagnostics.
Mark Davis, CEO of GADx R&D (formerly Mologic), said: “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. 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, added: “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. 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 1 million tests per day.”
