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XPhyto Therapeutics Corp.: XPhyto Places First Order for 25-Minute Covid-19 RT-PCR Tests

DGAP-News: XPhyto Therapeutics Corp. / Key word(s): Miscellaneous XPhyto Therapeutics Corp.: XPhyto Places First Order for 25-Minute Covid-19 RT-PCR Tests 24.02.2021 / 09:05 The issuer is solely responsible for the content of this announcement. XPhyto Places First Order for 25-Minute Covid-19 RT-PCR Tests

VANCOUVER, BC / ACCESSWIRE / February 24, 2021 / XPhyto Therapeutics Corp. (CSE:XPHY / OTC:XPHYF / FSE:4XT) ("XPhyto" or the "Company"), is pleased to announce that it has placed the first order for its rapid point-of-care SARS-CoV-2 (COVID-19) RT-PCR test system ("Covid-ID Lab") from its exclusive diagnostic development partner, 3a-diagnostics GmbH ("3a").

The first order of Covid-ID Lab is for 9,600 individual tests, which are packaged in 200 kits of 48 tests each. Delivery of the first order is expected by mid-March 2021 and will be primarily used to supply prospective distribution partners and licensees and their respective government regulators with test samples for review and evaluation. The tests will be manufactured in the German state of Baden-Württemberg.

"We are pleased to report that all steps towards the launch of Covid-ID Lab remain on track within an ambitious timeline," said Hugh Rogers, CEO, and Director of XPhyto. "Our experienced market launch team is working quickly to bring the product to market, as well as to establish licensing and distribution partnerships. We are confident that Covid-ID Lab, as a 25-minute PCR test with minimal technical and personnel requirements, will be a stand-out product in the COVID-19 test market."

Covid-ID Lab was designed to be a rapid, accurate, and robust COVID-19 test system with reduced operating costs and increased convenience and portability. XPhyto expects 3a to receive ISO 13485 medical device manufacturer approval by the end of February and European regulatory approval as a commercial in vitro diagnostic device (CE-IVD) for Covid-ID Lab by early March. Initial commercial manufacturing is planned for Germany, with additional capacity in other jurisdictions to follow. The sales launch in Europe is targeted for April 2021. XPhyto is currently in discussions with potential distribution and wholesale partners in Europe and the Middle East.