Softlab9 Purchases Rapid Antigen COVID Testing Kits
Softlab9 Technologies has ordered 1,000 Rapid Antigen Test Kits from Zhejiang Orient Gene Biotech to distribute to potential clients in the health sector. The kits are FDA approved in the U.S., TGA approved in Australia, and CE approved in Europe. Although not approved by Health Canada, the company is authorized to sell in regions where the kits are permitted. CEO Rahim Mohamed emphasized the challenge of sourcing such products amid the pandemic. This development reflects Softlab9's strategy to expand its offerings in personal protective equipment and health-related products.
- Initial purchase of 1,000 Rapid Antigen Test Kits strengthens product portfolio.
- Kits are FDA, TGA, and CE approved, indicating compliance with international standards.
- No Health Canada approval for test kits may limit market potential in Canada.
- Dependence on third-party approval could introduce supply risks.
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VANCOUVER, BC / ACCESSWIRE / October 16, 2020 / Softlab9 Technologies Inc. (CSE:SOFT); (Frankfurt:APO2); (OTC PINK:SOFSF) ("SOFT" or the "Company"), is pleased to announce that it has placed its first order of COVID-19 testing kits from Zhejiang Orient Gene Biotech Co. Ltd. ("Zhejiang")
SOFT has purchased 1000 Rapid Antigen Test Kits from Zhejiang ("RA Test Kits"). This first purchase order will be used to distribute samples to potential clients. SOFT has been pursuing governmental agencies, hospitals, and end users to distribute its new line of personal protective equipment and testing products. The RA Test Kits are FDA approved in the United States, Therapeutic Goods Administration (TGA) approved in Australia and CE approved in Europe, but not Health Canada approved. The Company, however, does have approval from Zhejiang to sell the RA Test Kits in jurisdictions around the world where they are approved for usage.
Rapid Antigen tests are a new category of tests for use in the ongoing pandemic. These diagnostic tests quickly detect fragments of proteins found on, or within the virus by testing samples collected from saliva. Results of the test are achieved in approximately 15 minutes, avoiding long and often stressful wait times for results from a laboratory.
Rahim Mohamed, CEO of SOFT said, "We continue to look for opportunities in the health sector, from sanitization to personal protective equipment, and now, testing kits for the current pandemic. These products are increasingly difficult to source, and we are committed to providing our clients with a steady supply and one-stop-shop for their needs."
Disclaimer
The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time.
About Zhejiang
Zhejiang Orient Gene Biotech Co., Ltd. is a high-tech manufacturing facility in China with integrated R&D, Production and Sales. The company was founded in 2005, has 92,000 m2 of GMP certified workshops, office buildings and auxiliary houses.
About SoftLab9
SoftLab9 Technologies Inc. is an international publicly traded company that specializes in the development of early staged companies. We provide access to capital, executive management, and industry experience to grow our portfolio of companies.
SoftLab9's experienced team bring new ideas and innovation based on science to find solutions to the current world we live in. Customers rely on quality, nontoxic products to keep their homes clean and their loved ones safe, now more than ever during these unprecedented international public health crises.
For further information please contact:
Rahim Mohamed
Chief Executive Officer
Phone: (403) 605-9429
RM@softlab9.com
www.softlab9.com
Paul Searle
Corporate Communications
Citygate Capital Corp
Phone: (778) 240-7724
psearle@citygatecap.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking Information
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this presentation that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations, and orientations regarding the future, including without limitation statements related to Zhejiang Orient Gene Biotech Co. Ltd., the Company's search for opportunities in the health sector, including products related to sanitization, personal protective equipment, and testing kits for the current COVID-19 pandemic, the distribution of Rapid Antigen Test Kit samples to potential clients and the pursuit of governmental agencies, hospitals, and end users to distribute its new line of personal protective equipment and testing products. Forward-looking statements can often be identified by words such as "will", "plans", "expects", "may", "intends", "anticipates", "believes", proposes" or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements are based on certain assumptions by management regarding the Company. Actual results could differ from those projected in any forward-looking statements due to numerous factors including, risks and uncertainties relating to the inability of the Company, to, among other things, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required to execute its proposed business plans, and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the Company's operations may also adversely affect the future results or performance of the Company. Investors are cautioned that forward looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company does not intend to update or revise any forward-looking statements, except as expressly required by law.
SOURCE: Softlab9 Technologies Inc.
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FAQ
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