XPhyto Therapeutics Corp. Featured in Syndicated Broadcast Covering Recent European Approval of 25-Minute COVID-19 PCR Test
XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) announced the European approval of its point-of-care SARS-CoV-2 RT-PCR test, Covid-ID Lab. This rapid test offers results in 25 minutes, combining the speed of rapid tests with the accuracy of PCR diagnostics. XPhyto plans to launch the product in April 2021 and is engaged in discussions with potential distribution partners. The test requires only a 20-minute PCR cycle and works with widely available PCR instruments. The company aims to enhance brand recognition through a broadcast via NetworkNewsAudio.
- European approval of Covid-ID Lab enhances market access potential.
- Test provides results in 25 minutes, offering rapid diagnostics.
- Engagement with distribution partners indicates growth opportunities.
- Planned sales launch in April 2021 suggests imminent market entry.
- No express claims of product efficacy against COVID-19.
- Product launch may face competition in the diagnostic market.
VANCOUVER, British Columbia, March 29, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), a bioscience accelerator focused on next-generation drug delivery, diagnostic and new active pharmaceutical ingredient investment opportunities, today announces that it has been featured in a broadcast via NetworkNewsAudio (NNA), a solution that delivers additional visibility, recognition and brand awareness in the investment community via distribution to thousands of syndication points. The audio press release covers XPhyto’s recent announcement highlighting the European approval of its point-of-care SARS-CoV-2 (COVID-19) RT-PCR test system (“Covid-ID Lab”).
To hear the audio production, visit: https://www.nnw.fm/wAeDE
To read the original press release, visit: https://nnw.fm/BsSvD
“Our test is one of the fastest PCR-based COVID-19 tests currently approved. With a sample collection to result time of 25 minutes, Covid-ID Lab combines the speed of a rapid screening test with the accuracy of a PCR diagnostic,” commented Hugh Rogers, CEO and Director of XPhyto. “Covid-ID Lab is designed for point-of-care testing, particularly in satellite and small-scale labs, such as transportation hubs, borders, care facilities, schools, pharmacies and hospitality settings.”
Now registered with the European Union as a commercial in vitro diagnostic (CE-IVD) test, Covid-ID Lab is a multiplex viral RNA probe kit based on the reverse transcriptase-polymerase chain reaction (RT-PCR) method. It requires only a single 20-minute PCR thermal cycle without prior RNA extraction as part of the sample preparation, and many widely available standard PCR instruments are suitable to run the test.
Per the update, XPhyto is currently in discussions with various potential distribution and wholesale partners for its Covid-ID Lab, as well as potential licensees. The company is targeting a European sales launch in April 2021, and it intends to provide further information and updates as they are available.
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. For more information, visit the company’s website at www.xphyto.com.
About NetworkNewsAudio
NetworkNewsAudio (“NNA”), one of 50+ brands within the InvestorBrandNetwork (“IBN”), allows you to sit back and listen to market updates, CEO interviews and AudioPressRelease (“APR”) productions. These audio clips provide snapshots of position, opportunity and momentum. NNA can assist by cutting through the overload of information in today's market, while bringing its clients unparalleled visibility, recognition and brand awareness. IBN is where news, content and information converge. IBN is a comprehensive provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, IBN has the unparalleled ability to reach a wide audience of investors, consumers, journalists and the general public with an ever-growing distribution network of 5,000+ key syndication outlets across the nation.
For more information, visit: www.NetworkNewsAudio.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://IBN.fm/Disclaimer
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.
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