EQS-Adhoc Achiko AG: Achiko establishes a joint venture with PT Indonesia Farma Medis for the production and distribution of its test platform for Covid-19 in Indonesia - Seite 2
Indonesia is a country of over 270 million people spread across several thousand islands. It is currently recording the highest number of cases, rates of positivity and fatality rates in Southeast Asia.
Phase 1 testing for Project Gumnuts has been concluded recently, achieving preliminary values of 91% sensitivity and 85% specificity. Further optimisation studies are currently being conducted in Spain and Indonesia to meet the World Health Organisations' (WHO) standards.
"We are proud to be involved with Achiko's development and look forward to the availability of Gumnuts for Indonesians, as most low cost rapid tests are too expensive for daily testing. The price point and convenience that Gumnuts can offer will enable tens of millions of people the ability to test almost daily. This will be a powerful tool in stopping the spread and beating Covid-19 and other pathogens," said the Mayor of Pekanbaru in Indonesia, Dr. H. Firdaus S.T., M.T.
Achiko holds 50% of the PT Achiko Medika Indonesia joint venture registered today. PIFM and Achiko will jointly manufacture and assemble Project Gumnuts test kits for the Indonesian market, with PIFM tasked with the distribution and marketing, and Achiko earning a 10% licensing fee from gross sales. As new tests are developed, they will be similarly assembled and sold in the country.
Part of the joint venture is a contract with PT Mitra Asa Pratama ("Mitra") and a memorandum of understanding with PT Pharos Indonesia ("Pharos"), along with several other companies, which are all subject to regulatory approval. Mitra is a leading distributor of medical and diagnostic devices in Indonesia, with vast network reach into government, healthcare institutions and retail markets, and will help with further distribution and marketing. Pharos is one of Indonesia's largest pharmaceutical conglomerates with reach into two of the biggest pharmacy groups in the country, developing and marketing innovative products in Indonesia and other countries in Southeast Asia, with manufacturing facilities in Indonesia, Singapore and Vietnam. They will be responsible for assembly, distribution and marketing. The Company has also started to engage in several other commercial arrangements in Indonesia.