XPhyto Therapeutics (XPHY.C) announced their partner Max Pharma GmbH will begin to sell XPhyto’s rapid point-of-care Covid-19 PCR test system (Covid-ID Lab) in Germany next week.
The Covid-ID Lab test provides quality testing for the Covid-19 virus, achieving a 95% confidence interval, and delivering results within 25 minutes. Covid-ID Lab is registered within the European Union as a commercial in vitro diagnostic (CE-IVD) test.
Max Pharma GmbH operates as a full-line and full-service pharmaceutical wholesaler in accordance with Section 52a of the German Medicines Act and will be partnering with XPhyto on storage, distribution, and logistics. Max Pharma is headquartered in Gattendorf and can reach Berlin, Munich, or Frankfurt by highway.
“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 tests will be available for purchase and delivery in Germany onwards from May 25, 2021. The tests will be available at a volume dependent cost within the range of most available Covid-19 PCR tests on the market.
The Covid-ID Lab tests are being made available in Germany at a time when they are, hopefully, reaching the end of a third wave and cases are declining.
And while they certainly have more citizens fully vaccinated than Canada, they are still far from reaching herd immunity.
As things start to open up, the Covid-ID Lab tests will prove to be a useful resource. Because the tests are point-of-care, they can be used at places where people are gathering, such as restaurants, or in places many people pass through, such as airports or train stations. Once the tests are completed, the results are presented on easy-to-read optical indicator strips.
The tests are conducted using widely available standard PCR instruments and don’t require RNA extraction, which has been a major bottleneck for a lot of COVID-19 testing.
Following today’s news, XPhyto’s share price is up 15 cents, and is currently trading at $2.25.
Full Disclosure: XPhyto Therapeutics is an Equity Guru marketing client.