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Cellmid signs introducer agreement to expand its COVID-19 diagnostic product range

Emerging scientific evidence has been consistent that using nucleotide and antibody tests together improves accuracy of diagnosis for COVID-19 patients.

Cellmid signs introducer agreement to expand its COVID-19 diagnostic product range
Securing access for Cellmid’s customers to a rapid nucleotide test is an important step

Cellmid Limited (ASX:CDY) has signed an introducer agreement with Emergence Technology Pty Ltd to secure access for Cellmid’s existing customers to additional SARS-CoV-2 tests.

As per the agreement, Emergence can nominate third parties to facilitate the supply of tests to customers introduced by Cellmid.

Background

Cellmid currently has a supply agreement with Australia Application Pty Ltd and is a TGA sponsor of the Wondfo SARS-CoV-2 antibody test (Lateral Flow Method) for distribution within Australia.

Emergence is currently in negotiations with Wondfo to become a distributor of the Wondfo test in Australia and overseas.

It is expected that, if Emergence is successful in becoming a distributor of the Wondfo test, Cellmid will be able to introduce customers to Emergence in overseas markets, as well as accessing supply through its existing agreement for Australia.

The Wondfo test detects IgM and IgG antibodies together in a single result strip.

However, separate detection of IgM and IgG antibodies may be preferred for certain applications.

Expanding COVID-19 diagnostic product range

Emerging scientific evidence has been consistent that using nucleotide and antibody tests together improves the accuracy of diagnosis for COVID-19 patients.

Securing access for Cellmid’s customers to a rapid nucleotide test has therefore been important to improve the SARS-CoV-2 diagnostic product portfolio.

Cellmid has advised the market last month that it has been looking to broaden the SARS-CoV-2 diagnostic product range it can offer to its customers with both antibody and nucleotide tests.

The agreement with Emergence allows for a low cost and low-risk option to achieve that.

Geographic reach beyond Australia

Cellmid had earlier advised the market that it intends to expand its geographic reach for the SARS-CoV-2 tests beyond Australia.

The new agreement allows the company to introduce overseas customers to Emergence and benefit from its contacts outside of Australia.

Emergence will be responsible to ensure regulatory compliance in any jurisdiction in which sales are to be made.

They will also provide Cellmid with all clinical, assay related and marketing material before these are provided to Cellmid’s customers to ensure that the tests are sold for appropriate use.

Whilst Cellmid is unable to forecast the number of sales Emergence is likely to make as a result of an introduction to a customer and therefore has no indication of the commission it is likely to receive, Cellmid considers this to be a material agreement given it will allow pursuing the overseas expressions of interests it has received since March 27 2020, and will broaden its product offering to its customers.

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