ViraxClear Receives PFDA Approval for ViraxClear Rapid Test Kit Distribution to the Philippines
June 25 2020 - 2:00AM
Global Care Capital Inc. (CSE:
HLTH, FRANKFURT:
L6V1) (the
“
Company” or “
Global Care”) a
global investment company which engages in early stage investment
opportunities in private and public companies, is pleased to
announce that its portfolio company, ViraxClear, through its joint
venture, Shanghai Biotechnology Devices Ltd. has, further to the
press release dated May 19th, 2020, received its approval
certificate from the Philippines Food And Drug Administration
(“
PFDA”) for the distribution of COVID-19 Rapid
Antibody Test Kits (“
Test Kits”) for the
Philippines market with a contract valued at up to $7.5 million in
gross sales for the distribution of up to 1 million Test Kits for
the Philippines.
https://www.globenewswire.com/NewsRoom/AttachmentNg/3348b7d1-3659-4a41-a664-b0b7e3942dc1
Distribution Contract for Test Kits in
the Philippines
Following PFDA approval, Philippines medical
device distribution company Novarad Asia Pacific Company
(“Novarad”) has become ViraxClear’s exclusive
distribution partner for the Philippines for ViraxClear Test Kits.
The full contract value is worth up to $7.5 million, over a period
of 1 year.
Alex Somjen, CEO of Global Care, stated “This
distribution deal represents the first of many similar deals that
ViraxClear is currently lining up with other strategic distribution
partnerships it has been working on over the last few months. The
Philippines is a major economy in South East Asia and we are
excited to work with Novarad, who are very well positioned to
market the ViraxClear products to its’ 100 million +
population.”
PFDA Approval
The PFDA requires test kits to be on their
approved list before being allowed through customs for sale in the
country. ViraxClear tests have been approved in collaboration with
Hangzhou Clongene Biotech Ltd., the ViraxClear manufacturing
partner for the Philippines region.
Hangzhou Clongene Biotech Ltd.
(“Clongene”) is a high-tech enterprise specialized
in biological raw materials and in vitro diagnostic
products. Founded in 2004, Clongene is equipped with
state-of-the-art ISO 13485:2016 accredited- China GMP compliant
R&D and manufacturing facilities covering 19,000 square meters
in Hangzhou, China. Their products have obtained CE certificates,
FSC certificates and US FDA 510(k) Clearances. Their product lines
include Raw materials, Antibodies, Antigens, Enzymes, Immuno
diagnosis, Fluorescence immunoassay (FIA) and Molecular diagnosis-
PCR.
About ViraxClear
ViraxClear focuses on commercializing novel
products that address significant healthcare needs with a
specific target on the novel coronavirus (COVID-19). The
company’s main focus is marketing its ViraxClear Rapid IgM-IgG
Combined Antibody Test. The ViraxClear Rapid IgM-IgG Combined
Antibody Test for COVID-19 is a lateral flow immunoassay used to
qualitatively detect both early and late marker IgG/IgM
antibodies.
http://www.viraxclear.com
info@viraxclear.com
About Global Care
Global Care Capital is a global investment
company which specializes in providing early stage financing to
private and public companies. The Company engages in new, early
stage investment opportunities in previously underdeveloped assets
and obtaining positions in early stage investment opportunities
that adequately reflect the risk profile.
GLOBAL CARE CAPITAL
INC.:
Company Contact:
Alex Somjen, President & CEO
asomjen@globalcarecapital.com
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