XPhyto Therapeutics (XPHY.C), with its partner and acquisition target, 3a-diagnostics GmbH announced today that it has successfully registered its first biosensor test in oral inflammation with the German authorities.
“Our enzyme-activated biosensors are developed for real-time, low-cost and easy-to-use oral screening applications for the rapid detection of infectious diseases at home or at the point of care. Its innovative approach using the tongue as a sensor provides a unique selling proposition that clearly sets it apart from established competitors. Easily accessible indicators for oral inflammation lead to patients visiting their doctor earlier in the course of the disease thus improving oral health and patient care on a fundamental level,” explained Dr. Heinrich Jehle, managing director of 3a-diagnostics GmbH.
First, let’s talk about XPhyto’s biosensor and how it works. The Company’s biosensor is intended to be an easy at-home self-check that can be performed without the need for specific medical knowledge or training, analytical equipment, or even a power supply. In other words, for those of us who can’t make heads or tails of an IKEA assembly manual, we should still be perfectly capable of using XPhyto’s biosensor. After all, performing a self-check involves placing the Company’s biosensor on the tongue, where the thin film will then dissolve. After five minutes, if oral inflammation is present, the biosensor will release a bitter taste. Ultimately, XPhyto’s biosensor functions as a quick test for heightened levels of certain bacteria and viruses to check whether a doctor’s visit and further tests are necessary.
Who is 3a-diagnostics? 3a-diagnostics is a research-based biotechnology company located in Germany. The company specializes in the development, production and marketing of point-of-care systems. 3a-diagnostics’ peptide-based biosensor screening tests for bacterial and viral infectious diseases are characterized by their bitter taste. As you have probably gathered by now, being “bitter” is kind of 3a- diagnostics thing. With this in mind, in collaboration with 3a-diagnostics, XPhyto has developed a pipeline of peptide-based biosensor screening tests for bacterial and viral infectious diseases with a radically new approach to diagnostic testing. This technology is intended to address a gap in the market by allowing a reliable, quick diagnosis to be made that can later be confirmed professionally. Moreover, the platform provides access to advanced screening modalities that could lead to new health management strategies in the future.
The successful registration of the oral inflammation test is another milestone in our fruitful collaboration with 3a-diagnostics. Biosensors in general, and 3a’s innovative biosensor system in particular, are a promising and reliable platform technology for accurate early screening and diagnosis of diseases. The inflammation test is already the second product successfully developed and launched with our partner, 3a, confirming our strong rational for the closing of our acquisition in October. With a focus on the burgeoning multibillion-dollar disease detection market, together with 3a we are marketing point-of-care screening systems developed over the past decade and are well positioned for success,” commented Hugh Rogers, director and chief executive officer of Xphyto.
In April 2020, the Company and 3a-diagnostics signed a definitive development, technology purchase and license agreement for the development and commercialization of real-time, low-cost and easy-to-use biosensor screening tests and related development platform for the rapid detection of infectious diseases. More recently, on July 20, 2021, XPhyto announced the signing of an acquisition agreement with 3a-diagnostics where XPhyto will acquire all of the outstanding shares of 3a-diagnostics with a planned closing date on or around October 31, 2021. Having now launched its first commercial biosensor, XPhyto has substantial footing in the global biosensor market which is anticipated to reach USD$41.8 billion by 2028.
XPhyto’s share price opened at $1.68 and is up 0.60%. The Company’s shares are currently trading at $1.69 as of 10:48AM ET.