Qlife announced that it has signed a Letter of Intent (LOI) with Precision Biosensor, to introduce Egoo Health to the South Korean market. Qlife anticipates finalizing a comprehensive collaboration agreement over the next months. The agreement is focused on two distinct phases: Regulatory Approvals: Precision Biosensor will navigate the regulatory landscape to secure product registration from the Korean Ministry of Food and Drug Safety (MFDS) for Egoo Health.

Commercialization in South Korea: Following registrations, Precision Biosensor will lead the commercialization of Egoo Health in South Korea, which includes marketing, sales, and distribution to primary care, including doctors' offices, disease institutions, and hospitals. Sales are expected to start during Fourth Quarter 2024 and will contribute positively to Qlife's aim of becoming self-financed during 2025. This LOI and later collaboration agreement with Precision Biosensor signifies an additional step in Qlife's strategy to establish a foothold in major markets.

South Korea is a strong tech country known for its ability to be a first mover in health technologies, which was especially seen during the Covid pandemic, when South Korea was one of the most efficient countries to contain the virus rapidly.