XPhyto Therapeutics Corp (CSE:XPHY) (OTCQB:XPHYF) (FRA:4XT) told investors that its rapid point-of-care coronavirus (COVID-19) PCR test will be available to buy in Germany from May 25, 2021.
The group's distribution, storage and logistics partner Max Pharma GmbH will launch the test called Covid-ID Lab in Germany next week.
READ: XPhyto establishes a proof-of-concept station for its 25-minute point-of-care COVID-19 PCR test in Germany
"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," said Wolfgang Probst, chief operating officer (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 is registered within the European Union as a commercial in vitro diagnostic (CE-IVD) test.
It requires only a 20-minute PCR run time without prior RNA extraction. Following the RT-PCR process, the SARS-CoV-2 virus is detected on a test chip and the results can be read visually within five minutes, combining the speed of an antigen test with the accuracy of a PCR test.
It will be available for purchase and delivery from Max Pharma, which supplies pharmacies and clinics throughout Germany, at volume-dependent pricing within the range of commonly available COVID-19 PCR test products currently on the market.
Initial German manufacturing capacity has been secured with additional manufacturing capacity available based on demand, noted XPhyto.
XPhyto has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.
Contact the author at giles@proactiveinvestors.com