Virax Biolabs Group Limited (VRAX) on Wednesday announced that it has signed a distribution agreement with a supplier of (RT)PCR Mpox virus detection kit to commercialize the kit in parts of Europe and the Gulf countries.
The RT PCR Mpox Virus Detection Kit has been approved for sale in Europe and has also been cleared by the UK product regulator, the Medicines and Healthcare products Regulatory Agency.
Earlier this month, the World Health Organization declared a global public health emergency due to a rise in MPOX cases in African countries.
Also read: Exclusive: Virax Biolabs Launches Immune Profiling Solution to Assess Adaptive Immunity in Post-Viral Syndrome.
These tests are performed with a sensitivity of 96.7% and specificity of 93.72%, providing results within 70 minutes.
Under the terms of the agreement, Virax will be authorized to import, sell and distribute Virax-branded Mpox viral nucleic acid detection kits in European countries, including the UK, France, Portugal, Netherlands, Belgium, Sweden, Finland, Denmark, Norway, Germany, Spain, Switzerland and Austria, and in GCC countries, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.
Cosmos Health plc (COSM) announced that under its agreement with Virax Biolabs, it will continue to hold distribution rights for the mpox viral real-time PCR detection kit, with exclusive distribution rights in Greece and Cyprus, and non-exclusive distribution rights across Europe.
Price Action: At last check on Wednesday, VRAX shares were down 4.70% at $4.65 in pre-market trading.
Read next:
Market news and data provided by Benzinga API
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
