XPhyto Rapid Point-of-Care COVID-19 PCR Test Offered for Sale in Germany
XPhyto Therapeutics Corp. announces the launch of its rapid 25-minute COVID-19 PCR test, Covid-ID Lab, for sale in Germany starting May 25, 2021. The test delivers results quickly, combining the accuracy of PCR testing with the speed of antigen tests. Initially secured manufacturing capacity can be scaled based on demand. Pricing will be competitive with existing COVID-19 PCR products. The test aims to serve various sectors, including airports, pharmacies, and medical clinics, enhancing rapid diagnostic capabilities in Europe.
- Launch of rapid 25-minute PCR test in Germany may capture significant market share.
- Volume-based pricing is competitive with existing COVID-19 PCR tests.
- Initial manufacturing capacity secured, with potential to scale based on demand.
- The success of product sales is uncertain and subject to market conditions.
- Dependence on Max Pharma for distribution and regulatory compliance creates potential risks.
- Rapid 25-minute point-of-care COVID-19 PCR test available for purchase in Germany commencing May 25, 2021
- Volume based pricing competitive with other COVID-19 PCR test products on the market
- Initial manufacturing capacity secured, additional capacity to increase based on demand
VANCOUVER, BC and MEMMINGEN, GERMANY / ACCESSWIRE / May 20, 2021 / XPhyto Therapeutics Corp. (CSE:XPHY)(OTC:XPHYF)(FSE:4XT) ("XPhyto" or the "Company") is pleased to announce that its distribution, storage and logistics partner, Max Pharma GmbH ("Max Pharma"), will launch the sale of its 25-minute SARS-CoV-2 (COVID-19) RT-PCR test system ("Covid-ID Lab") in Germany next week. Covid-ID Lab is registered within the European Union as a commercial in vitro diagnostic (CE-IVD) test.
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. Covid-ID Lab requires only a 20-minute PCR run time without prior RNA extraction. Following the RT-PCR process, the SARS-CoV-2 virus is detected on a test chip and the results can be read visually within 5 minutes, combining the speed of an antigen test with the accuracy of a PCR test.
"Covid-ID Lab provides diagnostic level accuracy in minutes at the point-of-care. It is a specialized product that is designed to fill the market gap between disposable antigen tests and centralized automated PCR systems," says Wolfgang Probst, COO and director of XPhyto. "Examples of target customers are airports, cruise lines, pharmacies, medical clinics, and any industrial or education site that requires rapid, definitive results."
Covid-ID Lab will be available for purchase and delivery in Germany from Max Pharma commencing May 25, 2021, at volume dependent pricing within the range of commonly available COVID-19 PCR test products currently on the market. Initial German manufacturing capacity has been secured with additional manufacturing capacity available based on demand.
Max Pharma is a full-range German pharmaceutical wholesaler in accordance with Section 52a of the German Medicines Act (AMG). Max Pharma supplies pharmacies and clinics throughout Germany with pharmaceuticals, narcotics, and medical products. As announced April 21, 2021, Max Pharma is a licensed distribution, storage and delivery provider for Covid-ID Lab in Germany in addition to fulfilling certain regulatory reporting, notification and logistics obligations.
Parties interested in procuring Covid-ID Lab in Germany or Europe please contact:
Max Pharma GmbH
T: +49 9281 840 160
E: info@max-pharma.de
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
Media Inquiries:
MC Services AG
Julia Hofmann, Andreas Jungfer
T: +49 89 210 228 0
E: xphyto@mc-services.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
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