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Achiko AG (OTCQB: ACHKF) announced successful validation of its AptameX™ Gen 2 Covid-19 rapid test, showing a remarkable 100% match with PCR results, outperforming competitors Abbott Pan Bio and Clungene. The test demonstrated robust sensitivity and specificity, crucial for effective virus management. Despite production challenges as the company upgrades to Gen 2, Achiko remains committed to meeting demand, aiming to supply over five million tests monthly. Strong backing from investors has bolstered its operational capabilities, setting the stage for impactful growth in the diagnostic sector.
Achiko AG held its Annual General Meeting on December 20, 2022, in Zurich, where all resolutions were passed. Shareholders approved the annual report and a total balance sheet loss of USD 34,568,395. The purpose of the company was amended to include broader diagnostic products and services. Share capital increases were authorized, and key board members were re-elected. CEO Steven Goh emphasized the need to transform the board and improve the balance sheet, highlighting the emergence of sales for their diagnostic product, AptameX™, and plans for further product development.
Achiko AG has announced the convening of its Annual General Meeting (AGM) on December 20, 2022, at 10:00 a.m. CET in Zurich. Due to Covid-19, shareholders will participate via an independent proxy only. Registration is required by December 5, 2022, for voting rights. The full agenda and proposals from the Board of Directors are available on the company's website.
Achiko is known for its rapid Covid-19 testing solutions, AptameX™ and Teman Sehat™, launched in Indonesia in 2021, with AptameX™ receiving CE Mark approval in May 2022.
Achiko AG announces the commencement of commercial deliveries for its AptameX™ saliva-based Covid-19 test, targeting clients in Jakarta, including the large organization Nahdlatul Ulama. This proprietary test uses DNA aptamers bound to gold nanoparticles, enhancing detection even at low viral loads, and has shown superior performance compared to typical rapid tests. A corporate update webcast is scheduled for November 22, 2022, led by CEO Steven Goh, to discuss further developments and company strategies.
Achiko AG has announced the commencement of commercial deliveries of its Generation 2 AptameX™ Covid-19 test kits in Jakarta, Indonesia, partnering with Nahdlatul Ulama (DKI). Following a successful pilot program, the company aims to supply one million tests initially, expanding to five million per month. AptameX is a saliva-based test utilizing DNA aptamers, outperforming traditional rapid tests. CEO Steven Goh expressed enthusiasm for the delivery rollout, marking a significant step after securing materials and establishing production in Indonesia and Taiwan.
Achiko AG has successfully completed a production pilot for its Generation 2 AptameX™ Covid-19 test kit, aiming for mass commercial production. The company plans to fulfill a contract with Nahdlatul Ulama, the world's largest Islamic organization, to deliver 5 million tests monthly by Q4 2022, ramping up to over 10 million in 2023. Despite previous distractions affecting the timeline, Achiko is optimistic about commencing delivery in 2023. The AptameX™ tests are designed to be affordable and efficient, targeting low and middle-income countries.
Achiko AG appointed Lars Birkmann as Chief Financial Officer (CFO) on October 5, 2022, succeeding Adam O’Keeffe. Birkmann has over 20 years of experience in the Swiss life sciences sector, specializing in finance, including accounting and mergers. His previous roles include CFO at Ender Diagnostics AG and Sensile Medical AG. This appointment marks a strategic step towards building a Swiss-representative executive team and advancing the company's transformation into a diagnostics and technology firm.
Achiko reports an EBITDA loss of USD $1.9 million for the first half of 2022, improved from the previous year’s loss of USD $4.6 million. The company achieved major milestones, including a CE Mark for its Covid-19 diagnostic, AptameX™, which demonstrated over 97% sensitivity and specificity. Post-period financing raised CHF 1.25 million from sophisticated investors. Focused on commercialization in Indonesia, Achiko signed key agreements with PWNU and Indofarma, aiming to produce over one million tests per month by late 2022.
Achiko AG (OTCQB: ACHKF, SIX: ACHI) invites investors to a moderated investor call on July 8, 2022, at 8:30 am EDT. A PowerPoint presentation will be available prior to the call. Achiko is known for developing disruptive diagnostic solutions, with its leading product being a rapid Covid-19 test and companion app launched in Indonesia. The company also plans to submit an application for CE Mark approval in Europe in 2022.
Achiko AG (SIX: ACHI; OTCQB: ACHKF) announced that its shares will be suspended from trading starting June 28, 2022, due to non-compliance with listing rules. An initial review by SIX Exchange Regulation AG revealed that Achiko's annual financial statements did not meet required standards and received an Adverse Opinion from auditors. The company must publish corrected audited financial statements by July 31, 2022. Meanwhile, Achiko is progressing with a capital increase and has commenced production of its Covid-19 saliva-based rapid test, AptameX™, for schools in Indonesia.
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