XPhyto Therapeutics Corp. has signed a master supply agreement with Beovita GmbH & Co. KG and Tackleberries GmbH for PCR Tests.
Beovita GmbH & Co. KG and Tackleberries GmbH, two German diagnostics, testing, and medical logistics companies, run ten COVID-19 test centres in Berlin, Germany. There is a strong demand for reliable and rapid testing to monitor the changing dynamics of the pandemic throughout the summer and the high travel season.
Delivering the tests
COVID-ID Lab sample processing will occur directly at the sample collection site. This represents a significant shift from conventional PCR testing models whereby samples are collected and then shipped to large centralised and automated labs for processing. XPhyto’s decentralised testing model is expected to yield faster results, more versatile test centre options, and cost effectiveness at lower testing volumes.
Hugh Rogers, CEO and Director, said: “This is a major commercial milestone for XPhyto. The successful launch of our first diagnostic product, COVID-ID Lab, represents significant validation of our rapid point-of-care care diagnostic business strategy.
“Our portable COVID-ID Lab is designed to be one of the fastest PCR systems in the world, while our platform is economic at low to mid-range sample volumes. We anticipate strong and sustainable demand for our rapid and versatile PCR system and look forward to further expanding our reach.”
Dr Ismail Özkanli, CEO of Beovita GmbH & Co. KG, added: “For many countries, only PCR tests are accepted to travel there. Especially in the metropolitan area and around transportation hubs like train stations and airports, we see great potential for rapid PCR tests, which can be performed on the way and the results are then already available digitally upon arrival at the train station or airport. This will eliminate many time delays and organisational difficulties that not only business travellers but also tourists currently have to deal with.”
“Rapid, reliable and decentralised PCR tests are exactly what the market needs right now; precisely because incidence rates are falling and therefore sample numbers are decreasing. Large, centralised laboratories will no longer operate profitably due to their high-throughput testing equipment or alternatively, they will have to wait for sufficient sample numbers, therefore delaying results,” stated Michael Kretzer, CEO of Max Pharma, pharmaceutical wholesaler and XPhyto’s distribution partner.
“There will be areas of application where rapid, reliable, and universally recognised results are always required. Accordingly, we see a specialised and sustainable opportunity for the COVID-ID Lab and anticipate a steep order volume uptake in the near future.”
The COVID-ID Lab
COVID-ID Lab is a rapid RT-PCR test for the qualitative detection of SARS-CoV-2 based on the reverse transcriptase polymerase chain reaction (RT-PCR) method. To perform the test, COVID-ID Lab requires only a 20 minute PCR run time without prior RNA extraction as part of sample preparation. After the RT-PCR, the SARS-CoV-2 virus is detected on a test chip within five minutes and if SARS-CoV-2 is present, the result can be read visually immediately.
As commercial relationships progress, manufacturing volumes and costs, as well as sales volumes and revenue are established, the Company will provide economic details and forecasts associated with COVID-ID Lab.
The Company is not making any express or implied claims that its product has the ability to eliminate, cure, or contain the COVID-19 pandemic.