XPhyto Supplies 10 Test Centers in Berlin with 25-minute COVID-19 PCR Test
- XPhyto signs master supply agreement with operator of 10 COVID-19 test centers
- The test will be offered to customers as a rapid PCR test with sample processing on site
- Commercial operations expected to commence upon delivery of kits
Vancouver, Canada, and Frankfurt, Germany (June 30, 2021) – XPhyto Therapeutics Corp. (CSE:XPHY / OTC:XPHYF / FSE:4XT) (“XPhyto” or the “Company”) is pleased to announce that it has signed a master supply agreement with Beovita GmbH & Co. KG and Tackleberries GmbH, two German diagnostics, testing, and medical logistics companies that run ten COVID-19 test centers 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.
“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,” said Hugh Rogers, CEO and director. “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.”
The delivery of approximately 1,000 Covid-ID Lab tests to test centers in Berlin will begin this week and will kick off a short trial period to integrate and evaluate XPhyto’s new PCR test system. 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 centralized and automated labs for processing. XPhyto’s decentralized testing model is expected to yield faster results, more versatile test center options, and cost effectiveness at lower testing volumes.
“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 organizational difficulties that not only business travelers but also tourists currently have to deal with,” noted Dr. Ismail Özkanli, CEO of Beovita GmbH & Co. KG.
“Rapid, reliable and decentralized PCR tests are exactly what the market needs right now; precisely because incidence rates are falling and therefore sample numbers are decreasing. Large centralized 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 recognized results are always required. Accordingly, we see a specialized and sustainable opportunity for the Covid-ID Lab and anticipate a steep order volume uptake in the near future.”
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 5 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.
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