Advancing Integration & Innovation: Building a Diagnostics Powerhouse
The full report is attached and can also be found here: https://qlifeholding.com/en/investors/finansiella-rapporter
Financial summary - third quarter 2025
- Revenue in the period amounted to kSEK 65 (39). Revenue from sales of Egoo.Health devices and capsules for the device.
- EBITDA for the period amounted to kSEK -6,398 (-27,151), and net loss kSEK -6,764 (-28,087).
- The total cash flow in the third quarter amounted to kSEK 2,336 (2,979).
- Earnings per share before/after dilution for the quarter amounted to SEK -0.75 (-0.12), calculated on weighted average number of shares in the period.
Significant events - third quarter of 2025
- On 9. July Qlife resolves to carry out a directed set-off issue of approximately SEK 2.47 million in accordance with previously announced credit facility agreement.
- On 21. August Qlife announces that it has finalized its clinical study with the Egoo PHE self-test for children and young people under 18 years of age with good results. The Egoo PHE self-test is entering its final phase ahead of submission to a Notified Body for self-testing approval in the UK and under the IVDR for EU markets.
- On 21. August Qlife informs that it has increased the size and extended the maturity of the credit facility originally announced on 29 January 2025. The credit facility is increased with SEK 4.5 million, from SEK 5.6 million to SEK 10.1 million.
- On 27. August Qlife updates on the RTO process that both parties remain fully committed to completing the transaction announced in the Letter of Intent signed on 5. June 2025. Hipro is working on the next steps involving certain formal processes in China required by Chinese law to sign a Share Purchase Agreement.
- On 15. September Qlife announces additional product line and progresses two new tests into clinical trials. The company is advancing two additional biomarker tests-nt-proBNP and potassium-into clinical trials targeting Congestive Heart Failure.
- On 22. September Qlife announces the outcome of the exercise of warrants series TO 6 that were issued in connection with Qlife's directed issues in August 2024. A total of 2,371,026 shares were subscribed for through the exercise of warrants, corresponding to an exercise rate of 100 percent. Qlife will receive proceeds of approximately SEK 4.7 million before transaction costs.
Significant events after the end of the third quarter of 2025
- On 5. October Qlife extends the Letter of Intent with Hipro Biotechnology Co., Ltd. regarding reverse takeover. The term and exclusivity of the Letter of Intent have been extended, and the Transaction would be conditional upon, inter alia, the signing of a share purchase agreement no later than 31 December 2025. The other material terms and conditions of the Transaction as previously communicated by the Company remain unchanged.
Letter from the CEO -
Advancing Integration & Innovation: Building a Diagnostics Powerhouse
The Merger Process
During the quarter, we have made significant progress toward realizing our vision of an integrated company through the contemplated merger between Qlife and Hipro. Both organizations remain fully committed to the completion of this merger, and we are diligently navigating the necessary legal and regulatory processes.
At present, our primary focus is on securing formal approvals in China, a process that requires the establishment of a foreign ownership structure for Hipro to enable a public listing in Europe. While these formalities are complex, progress remains steady, and we anticipate signing the SPA before Christmas. All legal teams involved are working collaboratively to achieve this milestone.
Following the signing the SPA, additional fillings - including Swedish and Chinese regulatory approvals, preparation of listing documents, and the final listing process - will follow. Although it remains challenging to predict exact timelines, our teams are fully aligned and committed to bringing this merger to fruition.
Strategic Integration and Product Portfolio
We have initiated the integration of our product portfolios to define a unified company strategy and identify key market segments. This is an exciting phase, as our combined capabilities position us to deliver substantial innovation and value:
- Egoo Q/P300: Qlife's self-test PHE product for the rare disease PKU, soon to be submitted for IVDR approval. This serves as our proof-of-concept for the Egoo 300 product line. Following the PHE submission, our focus will expand to major markets including heart and kidney failure.
- Egoo P200: Our jointly developed, cost-efficient self-test platform, designed for high sensitivity and affordability, enabling direct-to-consumer access to essential biomarkers.
- Hipro A1: Hipro's flagship POCT product line, featuring a broad test menu and currently deployed in thousands of hospitals across China. Notably, Hipro A1 recently received FDA approval for the HbA1c diabetes biomarker, paving the way for entry into the U.S. market.
This integrated portfolio uniquely positions us to achieve our shared vision: bringing laboratory-quality biomarker testing into patients' homes and making advanced diagnostics accessible to all.
Market Opportunities and Future Directions
We see substantial opportunities in three primary market segments:
- Hospital at Home: Supporting patients to remain at home for as long as possible.
- Pharmacies: Empowering pharmacies to take greater responsibility for public health by offering close-to-patient diagnostic services.
- Direct-to-Consumer: Providing consumers with access to lab-quality testing platforms in the comfort of their own homes.
These segments are driven by demographic trends and the rising costs of hospitalization. We believe that the future of healthcare will increasingly emphasize patient self-sufficiency, supported by integrated digital and AI-powered solutions. Our successful implementation of Egoo.AI on our website is a testament to this direction, and we plan to further expand AI-driven analytics and interpretation in future Egoo Apps, reducing the need for direct physician involvement in many cases.
Pilot Projects and Regulatory Progress
We are actively conducting pilot projects across all three market segments in collaboration with strategic partners. While details remain confidential until project completion, we are optimistic about securing a foothold in each segment.
Following the successful PKU clinical trial in Birmingham, UK, we are preparing to submit our pivotal Egoo PHE System for regulatory approval. We have engaged a Notified Body and established a firm schedule. This submission represents a world-first: a laboratory-quality immunodiagnostic product approved for self-testing by laypersons.
Outlook
While uncertainties remain regarding the exact timing of the merger and associated regulatory approvals, our motivation and dedication is clear. The combined strengths of Qlife and Hipro - spanning product innovation, business models, and market reach - positions us to build a diagnostics powerhouse with global reach, uniquely suited to the evolving landscape of direct-to-patient healthcare empowering individuals to monitor and prevent disease more effectively.
With Hipro's documented product optimization, regulatory approvals and sales deliverables coupled with established profitability we are confident that a merged company can also deliver an exceptional business opportunity for our shareholders.
We are committed to executing our strategy as swiftly as possible.
Göteborg, 12th November 2025
Thomas Warthoe, CEO
This disclosure contains information that Qlife Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 12-11-2025 08:30 CET
For more information please contact:
Thomas Warthoe, CEO
tw@egoo.health
+45 21 63 35 34
Qlife is a Swedish company based in Göteborg, which develops and markets an innovative medical technology platform, Egoo.Health ("Egoo"), with the goal of giving people access to clinical biomarker data when testing at home. The company is listed on the Nasdaq First North Growth Market (ticker: QLIFE). G&W Fondkommission is the Company's Certified Adviser. For additional information, please visit www.qlifeholding.com.