Words from the CEO
Every year, over 320 million people in the world suffer from depression. For many of them, the disease has a major impact on their lives and loved ones. At some point in their life, one in every four Swedes is affected by a depression so severe that it requires treatment. Today, depression is one of the most common causes of sick leave and many need medical treatment. During last year, seven percent of all men and thirteen percent of women in Sweden were prescribed antidepressants.
Due to the high number of patients and relapses, depression is a central and daily challenge in psychiatry that is constantly present for both the patient and the treating physician. Since depression leads to long periods of sick leave and disabilities, it results in high costs for society and employers. In the EU alone, the cost of mental illness is estimated to be around SEK 600 billion per year. In Sweden, mental illness is estimated to cost Swedish society about SEK 75 billion per year, of which around SEK 35 billion is related to depression.
One of the main problems with relapse is that there are no objective diagnostic markers providing information to determine higher/lower risk and to support treatment guidance. Because there are so many people suffering from depression and relapsing into more episodes of depression, improved diagnostics would lead to major cost savings for society. At the same time, improved diagnostics would also enable patients to receive better and safer care. Here, we believe that the EDOR® Test can provide biological and objective information about an increased risk of depressed patients.
In 2019, Emotra gained access to data showing that the EDOR method can identify a risk group that is three to four times more likely to relapse into depression. From our discussions with policy makers, psychiatric specialists and researchers, we have understood that this is a very large problem
area where results from EDOR testing can provide treating physicians with valuable biological information. Given the large number of depressed patients in the world and the high relapse frequency, we see the opportunity to build a unique position in a large global market over time.
In the area of mental illness, and specifically in psychiatry, scientists have made major progress towards a better understanding of the biological processes that affect the brain. At present, there are many interesting treatment, diagnostic and patient/doctor support innovations on their way to becoming part of the standard care offering. Emotra, with EDOR®, has a unique opportunity to contribute more and better information to reduce suffering and increase the wellbeing of patients
CEO, Emotra AB