Biolidics appoints non-exclusive distributor for Covid-19 test kits in Thailand

Singapore

CATALIST-LISTED medtech firm Biolidics has appointed Bangkok-based medical equipment and tools distributor Mediproud as a non-exclusive distributor for its Covid-19 test kits in Thailand, it said in a bourse filing on Friday morning.

The distribution agreement will last one year, starting May 7, 2020.

Under the terms of the agreement, Mediproud will assist Biolidics in obtaining all permits, licences, registrations and consents necessary from Thai authorities to import and sell the test kits in the country.

Mediproud is currently in the process of obtaining authorisation for the test kits from the Thailand Food and Drug Administration (FDA), the filing said.

Use of the test kits in Thailand will be limited to testing in laboratories and point-of-care testing by healthcare workers. Biolidic's test kits are for the qualitative detection of antibodies to SARS-CoV-2 - the virus that causes Covid-19 - in human serum, plasma and whole blood.

The company's test kits have been given regulatory approval for use in the US, European Union, Philippines and Singapore.

Biolidics said the agreement is likely to contribute positively to the revenue of the group for the current financial year. However, it is unable to quantify the financial impact, as the volume and timing of orders by Mediproud cannot be determined as at the date of its announcement.

Biolidics also warned that the import and sale of its test kits in Thailand are subject to regulatory approval, particularly from the Thailand FDA, and there was no certainty that these regulatory approvals would be obtained.

The company also noted that policies in relation to the diagnosis

and/or detection of Covid-19 and/or antibodies in various jurisdictions may change in response to rapidly evolving developments in the Covid-19 situation.

After obtaining permission to distribute, market and sell its test kits in the US last month, Biolidics appointed Nasdaq-listed Aytu Bioscience as its exclusive distributor in the US for one year. News later emerged of probes into claims that Aytu supplied healthcare providers with corona-virus tests from unapproved Chinese manufacturers and could have breached US securities laws. Biolidics said in response to Singapore Exchange queries that it did not expect a material impact on its business plans from its agreement with Aytu.

In April, Biolidics also appointed CK Life Sciences Int'l as its non-exclusive distributor in Hong Kong for three years.

Biolidics shares closed 1.5 Singapore cents higher at 45.5 cents on Friday.