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XPhyto Therapeutics reports first order for its rapid coronavirus RT-PCR tests

Published: 08:08 24 Feb 2021 EST

XPhyto Therapeutics Corp. -
Earlier this week, XPhyto said it was eying an initial sales launch of the tests in Europe in April this year

XPhyto Therapeutics Corp (CSE:XPHY) (OTCQB:XPHYF) (FRA:4XT) has received the first order for its rapid coronavirus (COVID-19) RT-PCR test system (Covid-ID Lab), which is expected to be delivered by mid-March this year. 

The order is for 9,600 individual tests, packaged in 200 kits of 48 tests, which will be manufactured in Baden-Württemberg, Germany. 

READ: XPhyto Therapeutics eyeing Europe sales launch of its coronavirus RT-PCR test in April this year

These will mainly be used to supply prospective distribution partners and licensees and government regulators with samples for review.

"We are pleased to report that all steps towards the launch of Covid-ID Lab remain on track within an ambitious timeline," said Hugh Rogers, CEO of XPhyto, in a statement.

"Our experienced market launch team is working quickly to bring the product to market, as well as to establish licensing and distribution partnerships. We are confident that Covid-ID Lab, as a 25-minute PCR test with minimal technical and personnel requirements, will be a stand-out product in the COVID-19 test market."

Earlier this week, XPhyto said it was eying an initial sales launch of the tests in Europe in April this year.

Covid-ID Lab is said to be a rapid, accurate test and was developed by XPhyto's exclusive German diagnostics development partner, 3a-diagnostics GmbH (3a).

3a is expected to receive ISO 13485 medical device manufacturer approval by the end of February and European regulatory approval as a commercial in vitro diagnostic device (CE-IVD) for Covid-ID Lab by early March, the company told investors.

XPhyto is currently in discussions with potential distribution and wholesale partners in Europe and the Middle East.

The company noted it was not making any express or implied claims that the product can eliminate, cure or contain the pandemic.

Notably, XPhyto and 3a are also developing a portfolio of oral biosensor screening tests to detect bacterial and viral infectious diseases and XPhyto is planning the commercial launch of its first biosensor product in the second half of 2021.

XPhyto Therapeutics describes itself as a "bioscience accelerator" focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities.

Contact the author at giles@proactiveinvestors.com

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