Virax Biolabs Group Limited Has Entered into an Agreement for the Distribution of Marburg Virus PCR Testing Kits

Rhea-AI Summary

Virax Biolabs Group Limited (Nasdaq: VRAX) announced a distribution agreement for Marburg Virus PCR testing kits, enhancing its diagnostic product lineup. The Marburg Virus Real Time PCR Kit will utilize real-time PCR technology to detect RNA from the Marburg Virus, targeting markets that accept the CE mark. CEO James Foster emphasized the kit's significance in combating infectious diseases and improving global health. Marburg Virus Disease is marked by severe hemorrhagic fever, necessitating precise testing to ensure effective outcomes. In addition to this launch, Virax is developing proprietary T-Cell Test technology for profiling immune responses to various viral threats, including COVID-19 and Monkeypox.

Positive

• Agreement for distribution of Marburg Virus PCR testing kits enhances product offerings.
• Development of proprietary T-Cell Test technology may provide competitive advantage.

Negative

• None.

LONDON, April 19, 2023 /PRNewswire/ -- Virax Biolabs Group Limited ("Virax" or the "Company") (Nasdaq: VRAX), an innovative biotech company focused on the detection of immune responses to and diagnosis of viral diseases, announced today that it has entered into an agreement for the distribution of Marburg Virus PCR testing kits.

The Marburg Virus Real Time PCR Kit is an in-vitro diagnostic test, based on real-time PCR technology, for the detection of ribonucleic acid (better known as RNA) from the Marburg Virus. The Company intends to launch the kit into areas accepting a CE mark.

Virax's Chairman of the Board and Chief Executive Officer, James Foster commented, "We are committed to developing and distributing innovative diagnostic tools to combat infectious diseases. Our Marburg Virus PCR testing kit is a significant step forward in our mission to improve global health."

The Marburg Virus Disease is a highly virulent disease which causes hemorrhagic fever and requires assessment under the International Health Regulations by the World Health Organization. Given the severity of the disease, the use of accurate and reliable test kits is critical to ensure the best possible outcomes for individuals affected by the disease, as well as for safeguarding public health more broadly.

About Virax Biolabs Group Limited

Founded in 2013, Virax Biolabs Group Limited is an innovative biotech company focused on the detection of immune responses to and diagnosis of viral diseases.

In addition to distributing an array of in-vitro diagnostic test kits, Virax Biolabs Group Limited is currently developing a proprietary T-Cell Test technology with the intention of providing an immunology profiling platform that assesses each individual's immune risk profile against major global viral threats. T-Cell testing can be particularly effective in the diagnosis and therapeutics of COVID-19 as well as other threats including Monkeypox, Hepatitis B, Malaria, Herpes and Human Papillomavirus.

For more information, please visit www.viraxbiolabs.com.

Safe Harbor Statement

This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. These forward-looking statements are based on information currently available to Virax and its current plans or expectations and are subject to a number of known and unknown uncertainties, risks and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These and other important factors are described in detail in the "Risk Factors" section of Virax's Annual Report on Form 20-F for the year ended March 31, 2022. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

 

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SOURCE Virax Biolabs

FAQ

What is the latest news about Virax Biolabs Group Limited (VRAX)?

Virax has entered into an agreement for the distribution of Marburg Virus PCR testing kits.

What are Marburg Virus PCR testing kits used for?

These kits are used for detecting RNA from the Marburg Virus, crucial for diagnosing the disease.

When was the Marburg Virus PCR testing kit announced by VRAX?

The announcement was made on April 19, 2023.

How does the Marburg Virus PCR test impact public health?

Accurate testing is essential for effective management of Marburg Virus Disease, which poses significant health risks.

What other technologies is Virax developing?

Virax is also developing a proprietary T-Cell Test technology for assessing immune responses to various viral diseases.