Malaria is one of the most severe healthcare problems and a leading cause of death worldwide. About half the world’s 3.3 billion people live in areas that have some risk of malaria transmission. While Africa has the largest number of people living in areas with high risk of malaria, South-East Asia and South America are also endemic regions.

Worldwide, there are 247 million cases of malaria annually, of which nearly 1 million people die, many of them children. One of the most pronounced problems in controlling the disease is limited availability and access to accurate at-home or point-of-care diagnosis. Artemisinin combination therapies (ACTs) are recommended as the first line of treatment for malaria.  However, artemisinin is extracted from a plant, making production inefficient and unreliable, and often resulting in inadequate supply.

Nigeria, our primary target market, is one of the most rapidly emerging African economies, attracting investors who are interested in new "frontier markets" that have lower correlation to the brewing crisis in global financial markets. It is the most populous nation in Africa (145 million people) and has an expanding middle class with markedly increased purchasing power. According to the International Monetary Fund, in 2007 Nigeria attracted $10.3 billion in direct and portfolio investments, an amount expected to rise in 2008 to $11 billion, despite a looming global recession.