Achiko AG Production and Sales Update
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.
- AptameX™ Gen 2 Covid-19 rapid test shows 100% sensitivity and specificity.
- Outperforms Abbott Pan Bio and Clungene tests in validation studies.
- Banking on a sales agreement for over five million tests monthly.
- Strong investor support aids in production scale-up.
- Production issues delayed the upgrade from Gen 1 to Gen 2.
- Corporate distractions hindered timely production readiness.
- AptameX™ Gen 2 Covid-19 rapid calibration outperforms Abbott Pan Bio and Clugene’s rapid tests in Indonesia in validation tests.
- Sample of 20 PCR Positive and 9 Negative samples, indicated a
100% match between AptameX™ Gen 2 product to PCR, whilst Clungene and Abbott’s Pan Bio were between6% and50% sensitive only. - Achiko remains committed to sales and is resolving production issues.
ZURICH, Switzerland, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; OTCQB: ACHKF; ISIN CH0522213468) (“Achiko”, the “Company”) is pleased to provide updates on test performance, production and sales.
Test Performance
As the Company is proceeding to sales and is currently going through external validation, the Company is proud to report that early results indicate a strong performance against other forms of testing (see table below).
| PCR | Abbott RapidAntigen Nasal Swab | Clungene RapidAntigen Nasal Swab | Clungene Rapid Antingen Saliva | AptameX Rapid Aptamer Saliva | |
| Sensitivity | |||||
| Specificity |
n=29, mean CT 25.88
“The price versus performance, user friendliness, and the affordability of the test compares well against other categories of testing,” said Steven Goh, CEO of Achiko AG. “As the world considers Covid-19 as endemic, the shift is now to deliver the right test for key industries such as healthcare, manufacturing, tourism and leisure, key government and other applications.”
“Additionally, these results pave the way for other tests. The diagnostic industry responded quickly with PCR and rapid testing, and our success with AptameX™ opens up a new field of more accessible and precise diagnostics.”
Unlike molecular and immunoassay approaches, the test’s use of DNA aptamers has yielded encouraging results at low viral loads outperforming most lateral flow based rapid tests. This is particularly important as early detection provides communities the opportunity to better manage and minimize the spread of the virus, treat the affected population more effectively, and limit adverse effects on economies and people’s livelihood.
Production and Sales
Earlier in 2022, the Company signed a Sales and Marketing agreement with Nahdlatul Ulama (DKI), with the view of supplying over five million tests per month. The Company has secured plastic molding and supply to respond to that demand but has been slowed by corporate distractions and production issues as it upgraded from the initial Gen 1 product to an even more precise Gen 2 product for scale production.
“The support from our Swiss investors in September, and the Annual General Meeting has paved the way for the Company to update and strengthen its board with a blend of local and international experience and reorganize its balance sheet,” added Goh. “Sales and securing raw materials are not the problem, it has been organizing production. This is the first time that anyone has produced a non-invasive, highly sensitive and specific aptamer-based solution that can potentially transform accessibility and affordability in a range of markets for a range of applications. Understandably, that is not without challenges and, whilst we have made significant progress, it has taken longer than expected to understand and address the issues to be ready for commercial launch and scaling and accordingly, we are still not producing the levels planned. However, we believe we understand the issues now and are moving quickly to resolve the situation.”
The Company is grateful for the support of its partners on the ground who have been instrumental in helping prepare for this and are excited by the opportunity to introduce more accessible and precise diagnostics to the population at large. There has been no change in the levels of demand for AptameX and the Company is expecting to supply in volume in accordance with previous indications.
ABOUT ACHIKO AG
Achiko AG (SIX: ACHI.SW; OTCQB: ACHKF; www.achiko.com) is developing disruptive diagnostic solutions that put people first. The Company’s lead product, AptameX™, is a rapid, reliable Covid-19 test with a companion app, Teman Sehat™, offering a user-friendly digital health passport. AptameX™ and Teman Sehat™ were launched in Indonesia in mid-2021 and AptameX™ received the CE Mark in the European Union in May 2022.
The AptameX™ DNA aptamer tests can be rapidly chemically synthesized, are cost-effective, easily scalable and have broad potential across multiple disease areas. Achiko aims to deliver fast, accurate and affordable diagnostic testing for a range of diseases in the rapidly evolving healthcare diagnostics field.
Headquartered in Zurich, Achiko has offices in Jakarta, and staff around the world.
Media contacts:
ACHIKO AG
Investor Relations
E: ir@achiko.com
Switzerland & Global
Marcus Balogh
Farner Consulting Ltd.
E: achiko@farner.ch
T: +41 44 266 67 67
Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties, and other factors, which could cause the actual results, financial condition, performance, or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
FAQ
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