XPhyto Executes Covid-ID Lab Sales Contracts with Test Clinics and Pharmacies in Germany as Part of Multi-Product Rollout Strategy

Rhea-AI Summary

XPhyto Therapeutics Corp. has announced the execution of sales contracts for its Covid-ID Lab with digitallife and pharmacies in Bamberg, Germany. These contracts target communities totaling approximately 153,000 residents, offering COVID-19 PCR testing services. With personnel training and equipment installations already completed, the first order of test kits has been delivered. The company aims to expand its sales engagements in Germany and across Europe while focusing on product commercialization. The Covid-ID Lab provides rapid testing with notable efficiency, catering to various sectors including travel and education.

Positive

• Executed sales contracts with digitallife and pharmacies in Germany, targeting communities totaling approximately 153,000 residents.
• Completed training and installations, with the first order of test kits already delivered.
• Plans to expand sales engagements across Germany and Europe as part of a broader commercialization strategy.

Negative

• None.

VANCOUVER, BC and UTTENWEILER, GERMANY / ACCESSWIRE / February 1, 2022 / XPhyto Therapeutics Corp. (CSE:XPHY)(OTCQB:XPHYF)(FSE:4XT) ("XPhyto" or the "Company") is pleased to announce the execution of Covid-ID Lab sales contracts with both digital life are Corona Testzentren ("digitallife"), powered by digitallifecare GmbH, Germany and a group of pharmacies in Bamberg, Germany.

Digitallife operates five coronavirus test centers south of Stuttgart, Germany, servicing a local community of approximately 75,000. Personnel training and equipment installation were completed last week and the first order of test kits has been delivered. In addition to testing for the general public, digitallife will also service corporate clients in the region with COVID-ID Lab PCR testing.

The Company also commenced selling to pharmacies in Bamberg, Germany servicing a local community of approximately 78,000.

The Company expects to advance and execute additional sales contracts and will release details as they become available.

"Having recently joined the Company to lead global marketing and sales initiatives, I am extremely pleased to announce today's contracts," said Roland Spleiss, Director of Business Development. "This is just one of many direct sales engagements that we currently pursuing in Germany, which are in addition to a number of European and global distribution agreements that are under review. It is a consequence of the joint efforts of both 3a and Vektor staff, providing training capacities at a high level."

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 pleased to have recently embarked on a process of rapid management change with a focus on product commercialization and sales. The company has a development pipeline of additional medical and oral health products that will be continuously rolled out with the commercialization team gaining rapid traction and momentum. News on the product rollout strategies will be released in due course.

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 are the recent contracts announced by XPhyto Therapeutics Corp.?

XPhyto announced sales contracts for its Covid-ID Lab with digitallife and pharmacies in Bamberg, Germany, servicing approximately 153,000 residents.

How does the Covid-ID Lab testing work?

The Covid-ID Lab utilizes a rapid RT-PCR testing method that provides results within minutes, making it suitable for various sectors including travel and healthcare.

When were the contracts for Covid-ID Lab signed?

The contracts were announced on February 1, 2022.

What is the community size being serviced by XPhyto's latest contracts?

The contracts target a local community with a combined population of approximately 153,000 in Germany.

What is the stock symbol for XPhyto Therapeutics?

The stock symbol for XPhyto is XPHYF.