QuestCap Secures Exclusive Sales Rights for Emergency Use Authorized COVID-19 Lateral Flow Antibody Test Kit

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TORONTO, July 30, 2020 (GLOBE NEWSWIRE) -- QuestCap Inc. (“QuestCap” or the “Company”) (CSE:QSC; FRA:34C1) is pleased to announce it has secured the exclusive rights to sell Hangzhou Laihe Biotech Co. Ltd.’s LYHER Novel Coronavirus (2019-nCoV) IgM/IgG Antibody Combo Test Kit (Colloidal Gold) within North America. The LYHER test kit was extensively reviewed by the US Food and Drug Administration (FDA) and the National Cancer Institute – Frederick National Laboratory and reported strong clinical results. The test kits are available for immediate sale in the United States. 

QuestCap Inc. has become the exclusive authorized sales agent in the United States, Canada, and Mexico for Hangzhou Laihe Biotech. Blackport Holdger Partners Inc. assigned QuestCap the right to act as an official exclusive agent through their role as the exclusive authorized North America representative of Hangzhou Laihe LYHER tests. The Company is eager to begin immediately selling the comprehensively reviewed, high-quality, and Emergency Use Authorized (EUA) test kits in the sizable and underserved US market. The test kits are used to determine if IgG/IgM antibodies to COVID-19 are present.

“We at QuestCap are excited to begin selling the Hangzhou Laihe LYHER lateral flow antibody test kit in the United States”, stated Doug Sommerville CEO of QuestCap. He continued, “we as a company have been committed to procuring and selling the best technologies available to address the unfolding health crisis. The market has rapidly evolved and we are pleased to add the LYHER lateral flow test to our sales portfolio.”

The Hangzhou Laihe LYHER lateral flow test kit has been reviewed by the United States FDA and the results are available on the FDA official website. The clinical performance was evaluated by NCI’s Frederick National Laboratory and it reported a combined IgG/IgM sensitivity and specificity of 100% and 98.8%, respectively. The LYHER lateral flow test is one of only 12 lateral flow kits that have received Emergency Use Authorization. The test will be used at high and moderate complexity labs and healthcare facilities licensed to purchase antibody test. To date, the FDA has rejected a total of 85 additional antibody tests that applied for EUA.