Virax Biolabs Introduces Human Papillomavirus ("HPV") Test Kit

Rhea-AI Summary

Virax Biolabs (Nasdaq: VRAX) has announced the distribution of HPV test kits, set to ship in Q1 2023 to CE-mark-accepting markets like the EU. The kits test for 18 HPV genotypes, including high-risk type 53. CEO James Foster highlighted the opportunity to capture market share with a supply capability of 200,000 tests weekly. HPV is a leading cause of cervical cancer, responsible for around 33,000 cases and 15,000 deaths annually in the EU. This places Virax in a significant position to address a critical health issue.

Positive

• Distribution of HPV test kits expected to generate revenue in Q1 2023.
• Tests cover 18 genotypes, addressing a significant health concern with increasing prevalence.
• CEO projects market share capture with a supply capacity of 200,000 tests weekly.

Negative

• None.

Kit Available Now for Distribution

LONDON, Jan. 4, 2023 /PRNewswire/ -- Virax Biolabs ("Virax" or the "Company") (Nasdaq: VRAX), an innovative biotechnology company focused on the prevention, detection, and diagnosis of viral diseases, announced today the distribution of HPV test kits with shipments anticipated in Q1 of 2023 to markets accepting the CE mark, such as the European Union. The test kit covers 18 different genotypes of HPV, including type 53, which is higher risk and becoming increasingly prevalent. The specialized diagnostic kits can be found by contacting the Company's sales representatives.

Virax's Chairman of the Board and Chief Executive Officer, James Foster commented "we are excited to expand our ViraxClear line of tests into an additional significant area of concern. These tests will cover more genotypes, have shorter processing times and lower costs than the currently available HPV tests in Europe. As we are able to supply around 200,000 of these tests per week, we have a significant opportunity to capture some market share."

HPV is one of the most prevalent sexually transmitted infections in the developed world. HPV is also the primary cause of cervical cancer in women with around 33,000 cases and 15,000 deaths annually in the EU, according to the European Centre for Disease Prevention and Control. Globally, HPV is estimated to cause over 600,000 cases of cervical cancer annually by the World Health Organization.

About Virax Biolabs Group Limited

Founded in 2013, Virax Biolabs is an Innovative Biotechnology company focused on the diagnosis of and the detection of immune responses to viral diseases.

In addition to distributing an array of viral test kits in unique geographies, 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 management 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. 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 significance of the HPV test kits announced by Virax (VRAX)?

The HPV test kits target 18 genotypes, including high-risk type 53, positioning Virax to address a major health issue, particularly cervical cancer.

When will Virax's HPV test kits be available?

The HPV test kits are anticipated for distribution in Q1 2023.

What markets will receive Virax's HPV test kits?

Virax's HPV test kits will be shipped to markets accepting the CE mark, including the European Union.

How many HPV test kits can Virax supply weekly?

Virax can supply approximately 200,000 HPV test kits per week.

What health issue are the HPV test kits addressing?

The HPV test kits address the prevalence of HPV, which is a leading cause of cervical cancer.