VANCOUVER, BC and UTTENWEILER, GERMANY / ACCESSWIRE / January 24, 2022 / XPhyto Therapeutics Corp. (CSE:XPHY)(OTCQB:XPHYF)(FSE:4XT) ('XPhyto' or the 'Company') is pleased to provide an update on the integration of 3a-diagnostics GmbH ('3a') into XPhyto's German operations.
The acquisition of 3a, announced December 6, 2021, is a primary driver of XPhyto's recent management activities in Germany. The Company has been working diligently to expedite the launch of its COVID-ID lab test system into the European market. The COVID-ID lab is a flexible and rapid 20 minute-RT-PCR test. The Company is facilitating sales activities inside and outside Germany, particularly Eastern Europe and is continuing with other EU countries as COVID-ID lab can be distributed in all countries that accept an EU CE mark. As a prerequisite for this, it was critical that 3a diagnostics be integrated into the Company. This was quickly achieved by joining forces between 3a and Vektor Pharma TF GmbH ('Vektor'), the two German science-based companies in the XPhyto portfolio.
The successful integration of 3a was critical to the optimization of research, development, commercialization, marketing and sales operations in Germany. It includes the harmonization of business strategies, management reorganization, and the reallocation of technical resources. As part of this process, the Company added several key human resources to drive development, commercialization and sales: Mr. Roland Spleiss, Director of Business Development, Dr. Heinrich Jehle, Head of Diagnostic Research, and Mr. Drahoslav Zdarek, Head of Sales, Europe, announced January 10th and 17th, 2021 respectively.
'We are now realizing significant synergies in research and development, commercialization, marketing and sales, as well as significantly improved margins for commercial products, particularly Covid-ID Lab,' stated Prof. Dr. Thomas Beckert, managing director. 'Vektor's qualified personnel has now assumed training, customer support, and product distribution activities from 3a, which permits 3a to focus on the development of new diagnostic products. Our next step in management optimization is the implementation of project management excellence across all product development programs, from research and development to sales and distribution.'
3a is a highly specialized German diagnostics company focused on development of innovative point-of-care test systems with a pipeline of proprietary oral biosensors for the real-time detection of bacterial and viral infectious diseases, including COVID-19, H1N1, and H5N1. Covid-ID Lab is a rapid RT-PCR test for the qualitative detection of SARS-CoV-2 based on the reverse transcriptase polymerase chain reaction (RT-PCR) method. To perform the test, Covid-ID Lab requires only a 20-minute PCR run time without prior RNA extraction as part of the sample preparation. The RT-PCR sample process detects the SARS-CoV-2 virus on a test chip within 5 minutes, when SARS-CoV-2 is present, the result can be read visually immediately. The target customers are airports, cruise lines, pharmacies, medical clinics, and any industrial or education site that requires rapid, definitive results.
Executive management of the holding company for 3a and Vektor is led by Prof. Dr. Beckert, also managing director of Vektor Pharma TF GmbH. Prof Dr. Beckert is a German-based scientist and experienced corporate executive who is leading XPhyto's drug formulation and diagnostics operations.
The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 pandemic.
About XPhyto Therapeutics Corp.
XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.
XPhyto Therapeutics Corp.
Hugh Rogers, CEO and Director
Mr. Knox Henderson
Forward looking statements
This news release includes statements containing forward-looking information within the meaning of applicable Canadian securities law ('forward-looking statements'). Forward-looking statements are frequently characterized by words such as 'develop', 'plan', 'continue', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate', 'potential', 'propose' and other similar words, or statements that certain events or conditions 'may' or 'will' occur, and in this release include the statement regarding the Company's goal of building a successful diagnostic, drug delivery, and medical cannabis company. Forward-looking statements are only predictions based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including: that the Company may not succeed in developing a commercial product; that the sale of products may not be a viable business; that the Company may be unable to scale its business; product liability risks; product regulatory risk; general economic conditions; adverse industry events; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; currency risks; competition; international risks; and other risks beyond the Company's control. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: XPhyto Therapeutics Corp.
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