- Bioscience technology accelerator XPhyto Therapeutics Corp. is working with development partner 3a-diagnostics GmbH to roll out its pandemic-related virus diagnostic tool for the European market planned in April
- The test solution, dubbed “Covid-ID Lab,” received European regulatory approval last month
- XPhyto’s product is designed to be portable and rapid in its response time to help decrease testing operation costs and increase convenience of use
- News reports about the COVID-19 pandemic reflect a growing optimism that vaccine, mask and distancing protocols may be helping to drive down infection rates, although the reports note the virus continues to have a deadly effect on many people
- Government and industry leaders have been looking for accurate and rapid diagnostic tools that may make it easier for travel operations and other businesses to resume robust activity despite the continued presence of the infectious virus
Vaccine distribution to millions of people and reports of declining rates of COVID-19 infection are generating optimism in the United States that the health crisis and its economic devastation are beginning to retreat before a modern medical technology assault, even as health officials continue to issue warnings that the deadly virus and its variants are still very active (https://ibn.fm/cl8Vk).
Bioscience technology accelerator XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) is now ready to launch its own solution for improving detection of the virus responsible for the worldwide pandemic. The company announced on March 18 that European regulatory officials have approved its point-of-care SARS-CoV-2 (COVID-19) RT-PCR test system, known more simply as “Covid-ID Lab,” as a commercial in vitro diagnostic device (CE-IVD) designed to help industry professionals and government agencies screen for the virus.
Covid-ID Lab was developed by XPhyto’s exclusive German diagnostics development partner, 3a-diagnostics GmbH to be a COVID-19 testing system that is rapid, accurate and portable, granting it marketability as a product with decreased operating costs and increased convenience.
“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,” XPhyto CEO and Director Hugh Rogers stated (https://ibn.fm/Fi0Mw). “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.”
The company announced in February that it had quickly formed a team of expert marketing leaders to launch Covid-ID Lab in anticipation of its approval under internationally agreed-on ISO 13485 quality standards. The market launch team consists of world-class clinical and pharmaceutical executives and service providers who have led company growth in the medical diagnostic industry from inception to over 500 million Euro per year in multinational sales, according to a company news release about the team’s work (https://ibn.fm/plVjO).
Sales rollout of the diagnostic tool is planned for April across Europe and official discussions about distribution and wholesale opportunities are under way with potential partners in the Middle East as well.
“We are extremely fortunate to now have a team with deep expertise in medical diagnostic product commercialization,” Rogers stated. “We are working hard to put the Company in the best possible position to execute on our business strategy.”
XPhyto also is developing an expanded portfolio of oral biosensor screening tests that will help clients detect other bacterial and viral infectious diseases, such as influenza A, group A strep, periodontitis and the H1N1 and H5N1 flu variants responsible for previous pandemics. The company is aiming for its first product launch under the portfolio in late 2021.
XPhyto has research and development operations in North America and Europe but its focus is the European market at this time.
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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