XPHYF - InvestorNewsBreaks - XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) Inks Czech Republic Distribution Deal Announces Rollout Plan for Additional European Territories
XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), a bioscience accelerator at the leading-edge of the life science industry, has signed a distribution agreement with TechUnit s.r.o. (Limited). TechUnit is a privately owned company focused on medical product distribution, advertisement and promotion. The agreement outlines parameters for the distribution of XYPHY’s Covid-ID Lab in the Czech Republic as well as plans for similar distribution in Hungary, Slovakia, Ukraine and Russia. XPhyto’s proprietary Covid-ID Lab is a rapid RT-PCR test designed to indicate qualitative detection of SARS-CoV-2 based on the reverse transcriptase polymerase chain reaction (RT-PCR) method. Covid-ID Lab produces results in a 20-minute PCR run time without prior RNA extraction. The deal also gives TechUnit the right to both distribute and sub-distribute Covid-ID Lab on a nonexclusive basis within the Czech Republic and notes potential for territorial exclusivity based on performance. According to the announcement, XPhyto will provide technical training and product, strategy and marketing support as the company anticipates building a strong strategic relationship with TechUnit. The partners will also evaluate opportunities for distribution in additional European territories. “Execution of the distribution agreement with TechUnit is an important step toward building strong European sales," said XPhyto Therapeutics managing director of German operations Dr. Thomas Beckert in the press release. "This is an important relationship with excellent potential for additional territorial expansion."
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About XPhyto Therapeutics Corp.
XPhyto Therapeutics 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. XPhyto has research and development operations in North America and Europe, with an operational focus in Germany. The company is currently focused on regulatory approval and commercialization of medical products for European markets. For more information about this company, please visit www.XPhyto.com
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