Social Purpose Corporation Statement (2018)
Antimicrobial resistance threatens the very core of human healthcare. ID Genomics’ Social Purpose is simple: to limit bacterial resistance and preserve antibiotics for the good of mankind.
We believe that antimicrobial resistance connects every human on the planet and that everyone has a right to be protected from this threat. While our core business focuses on developing diagnostics to guide precision antimicrobial selection at the point-of-care, we recognize that the threat of antimicrobial resistance is a complex problem that requires action on many fronts. To meet our goals, we draw on our alliances with hospitals, clinics, and world-class scientists to form a protective shield that equips medical teams around the world with the data badly needed to save human lives.
Over the past two years, we conducted an unprecented study across multiple clinical sites and showed that a superbug,E. coli ST1193 is emerging at pandemic levels across the United States. We made this information available to the public and our clinical partners free of cost to further our social mission. These results were also communicated at Life Sciences Innovation Northwest, an event that brings together life sciences professionals from across Washington State. Recognizing the need for quick detection of superbugs to keep our citizens safe, we have partnered with a 501(c)(3) group, the Hopewell Fund. Together with Hopewell, we are expanding our network across the world to introduce a not-for-profit initiative called the Antibiotic Resistance Monitoring, Analysis, and Diagnostics Alliance (ARMADA). A copy of ARMADA’s white paper and funding plan have already been circulated amongst ID Genomics’ Shareholders.
ARMADA is a first-of-its kind centralized biobank that will enable healthcare experts around the globe to identify infectious bacteria and track their repeat occurrences to specific sources while also sharing real-time solutions to life-threatening infections. Imagine a comprehensive crime database for antibiotic resistance. Just as law enforcement agencies share data to stop criminals, researchers and clinicians around the globe will be able to use this resource to identify both specific and common features of infectious bacteria and track their repeat occurrences to specific sources while also sharing real-time solutions to life-threatening infections.
Our revenue models for ARMADA are in line with our social mission, as we intend to bring this effort to low income communities globally at low- or no-cost. To maximize transparency for our social purpose, all contracts and financial efforts associated with ARMADA are approved, maintained, and audited independently by the Hopewell Fund. ARMADA has already attracted national and international partnerships, and will be introduced to the public in Q2 of 2018.
Our social vision is a world where physicians can identify resistant organisms beforethey spread within a community, contain outbreaks before they claim lives, and preserve antibiotics before they are lost to future generations.