Biolidics to start producing new Covid-19 test using A*Star tech by year-end

Annabeth Leow

Published Wed, Dec 8, 2021 · 09:38 PM

CATALIST-LISTED medtech firm Biolidics 8YY : 8YY 0% expects to start commercial production of a new Covid-19 rapid test kit by year-end, the board announced on Wednesday (Dec 8).

While the production and sale of the ClearEpi NAB Test is not likely to have a material impact on Biolidics' financial performance for the period to the coming Dec 31, it is expected to contribute positively to group revenue in the 12 months to Dec 31, 2022, the board disclosed.

Biolidics had inked a five-year licence agreement last July with the commercialisation arm of Singapore's Agency for Science, Technology and Research (A*Star) to use the agency's technology for diagnostic use and antibody tests, with non-exclusive worldwide rights. Then it announced in September that it had been given the green light to market and sell the test in the European Union.

The company had separately launched a Covid-19 test kit using its own technology in March 2020.

Biolidics has now inked a definitive agreement with its contract manufacturer to produce the ClearEpi NAB Test, and has obtained relevant product liability insurance, the board said.

Group chief executive Song Tang Yih added in a statement that "our ClearEpi NAB Test can become a vital tool in assessing vaccine candidates and formulate vaccine deployment strategies, such as the need for additional booster doses".

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But the Biolidics board also warned that - given how new Covid-19-related products and services are constantly hitting the market - Biolidics cannot quantify the financial impact of the test as yet, since "the sales uptake of the ClearEpi NAB Test cannot be determined".

Biolidics shares added half a Singapore cent or 2.99 per cent to S$0.172 on Wednesday before this latest announcement.

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