XPhyto Announces Head of Sales, Europe

Rhea-AI Summary

XPhyto Therapeutics Corp. has appointed Mr. Drahoslav Zdarek as the new Head of Sales for Europe, focusing on the distribution and commercialization of its CE Mark-approved Covid-ID Lab rapid RT-PCR test. With over 25 years in pharmaceutical sales, Zdarek’s expertise will aid expansion across European markets. This appointment follows other key hires aimed at strengthening the company's leadership as it prioritizes the growth of Covid-ID Lab and its biosensor innovations. The test offers quick SARS-CoV-2 detection suitable for diverse customers including airports and medical clinics.

Positive

• Appointment of Mr. Drahoslav Zdarek as Head of Sales enhances leadership.
• Focus on commercialization of Covid-ID Lab, a rapid RT-PCR test, may drive sales growth.
• Covid-ID Lab offers a quick 20-minute test with immediate results, appealing to diverse sectors.

Negative

• None.

VANCOUVER, BC and UTTENWEILER, GERMANY / ACCESSWIRE / January 17, 2022 / XPhyto Therapeutics Corp. (CSE:XPHY)(OTCQB:XPHYF)(FSE:4XT) ("XPhyto" or the "Company") is pleased to announce the appointment of Mr. Drahoslav Zdarek as the Company's Head of Sales, Europe. Mr. Zdarek will focus on building out distribution, sales and marketing of the Company's products, with high priority on the commercialization of Covid-ID Lab, the Company's German CE Mark approved rapid RT-PCR test registered within the European Union as a commercial in vitro diagnostic (CE-IVD) test.

Mr. Zdarek has over 25 years of European pharmaceutical sales and marketing success. His previous positions include over 13 years of marketing and sales for Teva Pharmaceutical focusing on the European market, Head of Business Development at CC Pharma GmbH and Head of Sales at Cell Pharma GmbH, a subsidiary of Stada Arzneimittel AG. Mr. Zdarek is a licensed pharmacist and a certified trainer for the Covid-ID Lab test.

"Mr. Zdarek is an important addition to the Company, joining at the right time. With his technical experience as well as sales skills he will help expand our European distribution and sales networks," said Prof. Dr. Thomas Beckert. "Today's announcement is further to the recent appointments of Mr. Roland Spleiss as the Director of Business Development and Dr. Heinrich Jehle as the Head of Diagnostic Research. Strengthening the leadership is essential as the Company focuses resources on new product commercialization and sales growth of Covid-ID Lab and its novel oral biosensors."

Covid-ID Lab is a rapid RT-PCR test for the qualitative detection of SARS-CoV-2 based on the reverse transcriptase polymerase chain reaction (RT-PCR) method. To perform the test, Covid-ID Lab requires only a 20-minute PCR run time without prior RNA extraction as part of the sample preparation. The RT-PCR sample process detects the SARS-CoV-2 virus on a test chip within 5 minutes, when SARS-CoV-2 is present, the result can be read visually immediately. The target customers are airports, cruise lines, pharmacies, medical clinics, and any industrial or education site that requires rapid, definitive results.

The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 pandemic.

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, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.

XPhyto Therapeutics Corp.

Hugh Rogers, CEO and Director

Investor Inquiries:

Mr. Knox Henderson
T: 604-551-2360
E: info@xphyto.com

Forward looking statements

This news release includes statements containing forward-looking information within the meaning of applicable Canadian securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "develop", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "propose" and other similar words, or statements that certain events or conditions "may" or "will" occur, and in this release include the statement regarding the Company's goal of building a successful diagnostic, drug delivery, and medical cannabis company. Forward-looking statements are only predictions based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including: that the Company may not succeed in developing a commercial product; that the sale of products may not be a viable business; that the Company may be unable to scale its business; product liability risks; product regulatory risk; general economic conditions; adverse industry events; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; currency risks; competition; international risks; and other risks beyond the Company's control. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: XPhyto Therapeutics Corp.

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FAQ

What is the significance of Mr. Drahoslav Zdarek's appointment at XPhyto (XPHYF)?

Mr. Drahoslav Zdarek's appointment as Head of Sales for Europe aims to enhance distribution and sales of XPhyto's products, particularly the Covid-ID Lab test, which has potential for significant market growth.

How does the Covid-ID Lab test work and what are its benefits?

The Covid-ID Lab test is a rapid RT-PCR test for SARS-CoV-2 that provides results in 20 minutes without prior RNA extraction. It is ideal for high-traffic environments such as airports and medical clinics.

What markets is XPhyto (XPHYF) targeting with the Covid-ID Lab test?

XPhyto is targeting various markets including airports, cruise lines, pharmacies, and medical clinics for the deployment of the Covid-ID Lab rapid testing.

When was Mr. Drahoslav Zdarek appointed as Head of Sales for XPhyto?

Mr. Drahoslav Zdarek was appointed on January 17, 2022.

What are the future plans of XPhyto (XPHYF) following the appointment of new leadership?

Following the new appointments, XPhyto plans to focus on expanding its European distribution and sales networks, particularly for the Covid-ID Lab test and its novel biosensors.