- XPhyto’s distribution, storage, and logistics partner, Max Pharma GmbH, began the sale and delivery of its rapid test kits (Covid-ID Labs) in Germany on May 25
- Max Pharma will sell Covid-ID Labs at volume-dependent pricing comparable to other COVID-19 PCR test products on the market
- The announcement comes as Germany reopens, meaning XPhyto is likely to benefit from a raft of regulatory requirements instituted by the government, which could potentially increase demand
- The Covid-ID Labs is both fast and accurate, factors that could make it the go-to product, given the inaccuracies and low sensitivity of many rapid antigen tests
As Germany reopens thanks to a drop in new COVID-19 infections, it has adopted a strategy that mandates anyone and everyone to prove they have been tested for the virus, have recently recovered from the disease, or have been fully vaccinated before entering any public space, including shops, outdoor dining areas, and, in some cases, indoor hospitality facilities (https://ibn.fm/IOo17
Earlier in March, the government made testing accessible to all at no cost, qualifying every resident to at least one free COVID-19 test per week, a policy whose implementation has continued since. As part of the arrangement, the government would reimburse companies for each test conducted (https://ibn.fm/W30qW
These regulatory requirements, plus the government’s efforts, bode well for the prospects of XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT)
in Germany. Recently, XPhyto, a life sciences technology accelerator, announced that Max Pharma GmbH, its distribution, storage, and logistics partner, began selling and delivering its 25-minute COVID-19 RT-PCR test system (“Covid-ID Lab”) in Germany on May 25, at volume-dependent pricing comparable to other COVID-19 PCR test products on the market (https://ibn.fm/9qWGp
According to Wolfgang Probst, CEO and director of XPhyto, the company’s target customers are medical clinics, pharmacies, cruise lines, airports, and any industrial or education facility that requires rapid, definitive results.
XPhyto has secured the initial German manufacturing capacity, with additional manufacturing capacity available, if need be.
The commencement of the sale is a culmination of events, mainly in Germany, that fulfill XPhyto’s commitment to developing effective, accessible rapid diagnostics for early detection and the potential for better treatment outcomes and improved disease management.
Its first product in the market, Covid-ID Lab is based on the reverse transcriptase-polymerase chain reaction (“RT-PCR”) method. The RT-PCR process, with occurs without prior RNA extraction, takes 20 minutes, after which the SARS-CoV-2 (COVID-19) virus is detected on a test chip, and the results can be read visually within 5 minutes.
Covid-ID Lab combines the accuracy of a PCR test, the gold standard for diagnosis, with the speed of an antigen test, thereby filling the existing market gap between centralized, automated PCR systems and disposable antigen tests. It achieves this despite requiring less laboratory equipment and expertise. Notably, the high accuracy may well make XPhyto’s rapid test kit the go-to product on the market, increasing its demand, especially in light of recent revelations captured in a recent analysis by Cochrane International.
The researchers, who evaluated 64 studies that compared the results of two types of rapid tests – antigen and molecular tests – with those of PCR tests conducted in the laboratory, noted that antigen tests fail to detect some infected people, given that their accuracy and sensitivity range is between 34% and 88% compared to PCR, depending on the manufacturer (https://ibn.fm/6fprg
The potential surge in demand owing to Covid-ID Lab’s higher accuracy, coupled with the mandatory testing requirements in Germany, points to the likelihood that XPhyto may soon require the additional available manufacturing capacity.
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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