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XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) Targets Potential Expansion of Rapid COVID-19 Test Kit Distribution with Delivery of 2,000 Units to Israel
May 18, 2021

XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) Targets Potential Expansion of Rapid COVID-19 Test Kit Distribution with Delivery of 2,000 Units to Israel

  • XPhyto recently delivered 2,000 of its rapid Covid-ID Lab test kits to an established Israeli distributor for clinical evaluation by the Ministry of Health
  • The delivery, which marks entry into the Middle East, follows the approval of the test kits in Europe
  • In an earlier interview, CEO Hugh Rogers had noted that XPhyto was looking to expand distribution to various markets, including the Middle East

In an interview on Proactive on March 22, XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) CEO and Director Hugh Rogers explained the implications of the CE-IVD approval (European certification) the company’s 25-minute COVID-19 RT-PCR test kits (“Covid-ID Lab”) had just received. One notable remark was that this approval would facilitate the sale and distribution of the Covid-ID Lab in Germany and, later, other parts of Europe, the Middle East, and North America (https://ibn.fm/RJWe5).

XPhyto, a life sciences technology accelerator, recently announced the delivery of 2,000 units of Covid-ID Lab to an established medical distributor in Israel, signaling its entry into the Middle East, subject to commercial regulatory approval and subsequent potential product distribution (https://ibn.fm/2gS4J).

These units will be used for clinical evaluation based on the European CE-IVD approval, one of several international medical device certifications recognized by the Israeli government. The evaluation, expected to be completed within 90 days, will be conducted by the Medical Device Division of the Israeli Ministry of Health (“AMAR”). 

“We are excited by the opportunity to expand potential distribution beyond Germany,” said Rogers. “We are building strong partnerships around the world, and Israel is a leading nation for COVID-19 management and research.”

One such partnership is with the Israeli distributor, which markets and distributes a range of medical products, including diagnostics, in Israel and surrounding countries. It has an extensive portfolio of customers in both the private and public sectors, such as the government, pharmacies, hospitals, and health care providers. 

XPhyto is banking on the fact that rapid and accurate testing will undoubtedly continue being a vital tool for monitoring and managing the pandemic for many years to come. This is despite the successful rollout in various countries, including Israel. In fact, the Middle Eastern country had already vaccinated about 58.5% of its population as of April 13 (https://ibn.fm/m4auk).

Vaccines are not 100% effective in preventing COVID-19 infection. As such, vaccinated people should still undertake regular testing to lower the risk of spreading the disease, especially with the emergence of new, more lethal variants. Experts consider testing an indicator of where the disease is localized and to which areas it is spreading (https://ibn.fm/hYDWd). During the Proactive interview, Rogers had alluded to these facts.

“As vaccines roll out, it’s going to be inconsistent across jurisdictions for various logistical and economic reasons. So, you can expect testing at any border control (point), (before) international travel and even (when) monitoring the efficacy of the vaccine. You are looking at significant testing for several years,” Rogers noted. 

This outlook has enabled XPhyto to expand distribution beyond Germany, where it has already signed a distribution agreement (https://ibn.fm/ZfJZA), potentially to other areas of the world. Seeing that the company is on track to actualize its plan to enter the Middle East, entry into the North American market may well be on the horizon. 

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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