Nightingale secures availability of its at-home tests with a strategic partnership and minority investment in Weavr Health

Translation: Original comment published in Finnish on 06/29/2021 at 14:23

On Tuesday June 29, Nightingale announced it has renewed its agreement with and made a strategic investment in the healthcare technology company Weavr Health (former Boston MicroFluidics). Weavr is the manufacturer of the Velvet™ device, which Nightingale uses in its at-home pilot launched in the second quarter of 2021.

The agreed strategic partnership enables global scalability of Nightingale's at-home testing solution and Nightingale announced it will launch its commercial at-home testing offering directly to consumers and to partners in the first half of 2022. As a part of the strategic partnership and renewed commercial terms, Nightingale invested around EUR 3.5 million to Weavr in the form of a convertible loan.

This partnership and agreement help Nightingale secure the long-term availability of Weavr’s technology by agreeing on usage rights to Weavr’s intellectual properties, so we believe the company now has clear preconditions to expand at-home testing. According to the release, the samples remain stable for up to 28 days at room temperature, which we believe enables serving an expansive geographical area without having to invest in new local laboratories. Last week, Nightingale reported on the progress of its at-home test and we commented on the news here.