BATM Advanced Communications Ltd (LSE:BVC, OTC:BTAVF) said it began sales of its RAPiDgen SARS-CoV-2 antigen test, which is an easy-to-use rapid test for use at home, in Russia.
This was the first self-testing COVID-19 test to be approved by the Russian public health authorities and is being sold via pharmacy outlets and ecommerce platforms, the company noted.
BATM said it commenced shipping its first order, worth €250,000, which is scheduled to complete in December, and added that further orders of a greater value are expected in 2022.
RAPiDgen remains one of only three self-testing tests approved for use in Russia. It was chosen for its accuracy and easy-to-use design and is the only test that has a one-step process with no liquid handling involved, BATM said.
The lateral flow test, which gives results in 10 minutes, was developed by BATM's Adaltis subsidiary and Gamidor Diagnostics and is marketed under the Adaltis brand.
WATCH: BATM Advanced Communications marks first sale of COVID-19 at-home test in Russia
Dr Zvi Marom, CEO of BATM, said: "We are delighted to have received further validation of the high quality of our rapid test when evaluated by teams of experts and compared with PCR tests, which are regarded as the 'gold standard'.
“We believe our test is the most accurate and easy-to-use test for at-home use in Russia, which represents a substantial market opportunity. The strength of our rapid test is also demonstrated by its use by clients in Israel that have very exacting standards and where early, precise detection of COVID-19 in employees is crucial.
“We are increasing the production capacity for RAPiDgen, which, in combination with our Adaltis portfolio of other COVID-19 tests, has a vital role to play in managing the pandemic as it continues to evolve."
Shares rose nearly 3% to 77.20p in midmorning trade.