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XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) Advances Rapid COVID Test System, Expands Psychedelic Medicine Programs
February 22, 2021

XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) Advances Rapid COVID Test System, Expands Psychedelic Medicine Programs

  • Life sciences industry accelerator XPhyto Therapeutics Corp. has developed a timeline for the approval and rollout of a rapid, portable COVID-19 test it expects to become available by April in Europe
  • XPhyto’s Covid-ID Lab system is designed to help industries economically devastated by the pandemic to form strategies based on quick and accurate testing, particularly the travel industry
  • The company intends to use its test tech partnership with Germany’s 3a-diagnostics GmbH to build additional bacteriological and viral testing products
  • A separate subsidiary based in Alberta is developing psychedelic medicine programs
  • The subsidiary recently announced it has added mescaline production to the program for potential use in treating addiction and depression

Canada-based bioscience accelerator XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) has completed all the preparatory actions necessary for it to apply for approval of its COVID-19 rapid and portable test system under European regulatory authorities, the company announced Feb. 16.

The quick-response point-of-care SARS-CoV-2 RT-PCR Test System known as “Covid-ID Lab” developed in partnership with Germany’s 3a-diagnostics GmbH is designed to provide robust and accurate COVID-19 testing for economically devastated market sectors, with particular emphasis on travel industries. The announcement is one of a pair of company developments to emerge this month, including the expansion of the holding company’s psychedelic medicine programs.

In regard to the COVID test, 3a expects to obtain approval as a medical device manufacturer under internationally agreed-on ISO 13485 quality standards by late February, followed by European regulatory approval of Covid-ID Lab as a commercial in vitro diagnostic device (CE-IVD) by early March, according to the company’s announcement (https://ibn.fm/89jKh).

The companies then plan for manufacturing to begin in Germany with an April target for Covid-ID Lab’s sales launch in Europe. XPhyto is building relationships with partners in other countries to further advance the system’s sales and distribution.

“Our goal was to create the fastest and most portable COVID-19 PCR test on the market,” XPhyto CEO and Director Hugh Rogers stated. “We are very pleased with the team’s swift development progress.”

The pandemic has had a calamitous effect on the tourism industry during the past year, especially for popular island destinations ranging from Hawaii to Australia and New Zealand. Domestically, Hawaii has experimented with resort “bubbles” and recently announced a test-dependent Health Pass agreement that will help travelers avoid a mandatory 10-day quarantine once they arrive on the islands (https://ibn.fm/yuQQd), while United Airlines became the first U.S. carrier to establish an in-airport testing partner and information service, according to a CBS News report (https://ibn.fm/Af5A6).

But the growing spread of COVID virus variants from the United Kingdom, South Africa and Brazil is creating new urgency about safeguarding international travel. India’s new air travel guidelines issued Feb. 18 are just the latest efforts to limit transmission of the worldwide health crisis, and experts believe varied restrictions will remain in place for a long time to come.

“Like 9/11 changed air security forever, we’re still taking our shoes off,” XpresCheck CEO Doug Satzman stated in the CBS News report. “COVID is going to change safety protocol in airports for a long time as well.”

The U.S. Centers for Disease Control and Prevention (“CDC”) has advised against such travel entirely, but has added testing recommendations for people who ignore its advice. In late January, the agency broadened international travel requirements, making negative COVID tests mandatory for passengers coming from any international location to the United States despite airline industry resistance (https://ibn.fm/rnoG3).

XPhyto’s rapid-response test system aims to give businesses and government authorities a powerful tool in their arsenals, and the COVID response is only the beginning. The company is also working with 3a to develop a portfolio of oral biosensor screening tests that detect bacterial and viral infectious diseases ranging from influenza A to group A strep, and is focusing on other potential pandemic biosensor tech efforts to combat the spread of the H1N1 (swine flu) and H5N1 (avian flu) viruses.

The company states it is planning to launch its first biosensor product commercially during the latter half of 2021.

Elsewhere, one of XPhyto’s holdings in Canada, XPhyto Laboratories Inc., has added mescaline production to its psychedelic medicine programs, according to a Feb. 3 announcement (https://ibn.fm/zyiEL).

Mescaline is listed as a Schedule I drug in the United States without legally recognized medicinal benefits and with a high risk of abuse, but the psychedelic substance occurs naturally in some types of cactus and has limited legal use in certain religious ceremonies registered by the Native American Church and in certain research efforts. However, its use is expanding internationally as a supplement to various types of meditation and psychedelic therapies, according to the company.

“Mescaline has been anecdotally recognized as a relatively safe psychedelic drug and has shown particular promise for the treatment of addiction and depression,” XPhyto’s news release states.

For more information, visit the company’s website at www.XPhyto.com.

NOTE TO INVESTORS: The latest news and updates relating to XPHYF are available in the company’s newsroom at https://ibn.fm/XPHYF 

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