XPhyto Therapeutics Corp. (CSE:XPHY, OTCQB:XPHYF) has announced the successful market launch of its 25-minute coronavirus (COVID-19) PCR Test called the COVID-ID Lab Test.
Significantly, the XPhyto COVID-ID Lab Test is a PCR test with PCR accuracy but the results are now available within 25 minutes. The Vancouver-based bioscience accelerator said a pilot project at test centers in Berlin “successfully optimized” the operational procedures and protocols for the “rapid, efficient, and reliable use of COVID-ID Lab.”
“This technical and operational knowledge is a critical component of the product launch process and to securing sales with existing and prospective customers,” it added.
READ: XPhyto supplies 10 test centers in Berlin with its 25-minute COVID-19 PCR tests
"We are extremely pleased with the pilot project results. The practical knowledge gained, from training protocols to efficient workflows, is necessary to accelerate our growing sales channels. These results confirm the effectiveness of our rapid point-of-care care diagnostic business strategy," XPhyto COO Wolfgang Probst said in a statement.
"In parallel to the pilot project, we are developing further approaches and services with our partners to offer modular testing and hygiene solutions for larger events, such as concerts, sporting events and conferences. Driven by the shift from antigen to PCR testing by state authorities across Germany as well as other European countries, we are convinced XPhyto can provide reliable PCR test results in only 25 minutes,” he added.
Probst said the company is in a “strong position to accelerate sales growth” in the near term given the diagnostic product’s competitive pricing.
COVID-ID Lab is a rapid RT-PCR test for the detection of SARS-CoV-2 based on the reverse transcriptase-polymerase chain reaction (RT-PCR) method. To perform the test, COVID-ID Lab requires only a 20-minute PCR run time without prior RNA extraction as part of sample preparation. After the RT-PCR, the SARS-CoV-2 virus is detected on a test chip within 5 minutes and if SARS-CoV-2 is present, the result can be read, visually, immediately.
"The straight-forward testing protocol, without prior RNA extraction as part of sample preparation, and the 25-minute PCR run time enables us to process the sample directly at the collection site. With this decentralized testing model, we can yield faster results and ensure cost-effectiveness even with lower testing volumes," noted Beovita GmbH & Company KG CEO, Dr. Ismail Özkanli.
"With the state regulations shifting from antigen to PCR testing, we see an increased demand in rapid and reliable PCR testing and, with the COVID-ID Lab, are able to offer this to our customers at a competitive price," he added.
In June, XPhyto signed a master supply agreement with Beovita GmbH & Company KG and Tackleberries GmbH, two German diagnostics, testing, and medical logistics companies that run ten COVID-19 test centers in Berlin, Germany.
XPhyto and its partners are currently developing a modular hygiene and testing concept for large events such as concerts, sporting events, theaters, and conferences, integrating the COVID-ID Lab Test. “Reliable and rapid testing on-site at the event in combination with participant registration and follow-up is essential to enable large events and ensure safety,” the company said.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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