Emerging Markets Report: Rapid Results
XPhyto Therapeutics Corp. (XPHYF) has announced the formation of an experienced commercial team to launch its 25-minute COVID-19 RT-PCR test, known as Covid-ID Lab. Developed in partnership with 3a-diagnostics GmbH, the rapid testing system delivers definitive results in just 25 minutes. XPhyto aims to secure ISO 13485 approval by February's end and plans for European regulatory approval by early March. With the rising demand for effective testing, the company anticipates a significant market opportunity, positioning itself as a potential leader in COVID-19 diagnostics.
- Formation of a skilled commercial team to launch COVID-19 test.
- Covid-ID Lab delivers results in 25 minutes, enhancing market competitiveness.
- Expected ISO 13485 approval by end of February.
- Targeting European regulatory approval by early March.
- None.
An Emerging Markets Sponsored Commentary
ORLANDO, Fla., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Today, we are pleased to introduce a new featured company, and one that is making news in the battle against COVID-19 due to recent achievements for the Company’s technology in the critical diagnostic market.
XPhyto Therapeutics Corp. (XPHYF), which is listed in the United States, Canada, and Germany is also involved in CBD, THC and Psychedelics. A discussion of those lucrative markets will be for another missive as we discuss the breaking news about the Company’s rapid tests for COVID-19.
Let’s start with the headline:
“XPhyto Builds Commercial Team to Launch 25-Minute Covid-19 RT-PCR Test”
Here’s what you need to know.
- The Company has expedited the formation of an experienced commercial team to launch its point-of-care SARS-CoV-2 (COVID-19) RT-PCR test system ("Covid-ID Lab") which provides definitive results in 25 minutes.
- The Covid-ID Lab was developed by XPhyto's exclusive German diagnostics development partner, 3a-diagnostics GmbH ("3a").
- XPhyto may receive ISO 13485 medical device manufacturer approval by the end of February and European regulatory approval as a commercial in vitro diagnostic device (CE-IVD) for Covid-ID Lab by early March.
- Already, the Company has developed a world-class marketing team of seasoned pharma execs and service providers to drive commercialization.
- Covid-ID Lab was designed to be a rapid, accurate and robust COVID-19 test system with reduced operating costs and increased convenience and portability.
With a roll-out planned for this spring, there is a potential opportunity for the Company to see results on its balance sheet. The reality is that the need for testing isn’t going away any time soon and elegant and effective ‘better mousetrap’ diagnostic methods may rise in prominence as market leaders in this enormous category.
About XPhyto Therapeutics Corp.
XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The Company has research and development operations in North America and Europe and is currently focused on regulatory approval and commercialization of medical products for European markets.
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