- Exclusive distribution agreement signed with Cosmos Holdings
Inc. (Nasdaq: COSM), providing for exclusive distribution rights in
Greece and Cyrus with the
opportunity for Cosmos to distribute across Europe on a non-exclusive basis.
LONDON, Sept. 22,
2022 /PRNewswire/ -- Virax Biolabs Group Limited
("Virax" or the "Company") (Nasdaq: VRAX), an innovative
diagnostics company focused on the prevention, detection, and
diagnosis of viral diseases, announced today that it has entered
into a distribution agreement to market Monkeypox Virus Real-Time
PCR Detection Kits with Cosmos Holdings Inc. (Nasdaq: COSM)
("Cosmos"), an international healthcare group headquartered in
the United States and with
subsidiaries in Greece and the
United Kingdom. Pursuant to the
agreement, Cosmos will have exclusive distribution rights for
Greece and Cyprus, with the opportunity to distribute the
test kits across Europe on a
non-exclusive basis. Financial terms were not disclosed.
Virax's Chairman of the Board of Directors and Chief Executive
Officer, Mr. James Foster,
commented, "These real-time PCR Monkeypox tests facilitate the
rapid diagnosis, treatment and containment of a very significant
viral infection, so we are very excited to work with Cosmos to help
provide access to it in Europe. We
are working diligently to sign additional regional partnerships
across the globe as approximately 104 countries have reported cases
of Monkeypox."
"We are enthusiastic about the combination of Virax Biolabs'
strong distribution and Cosmos' considerable knowledge of the
market, in order to make these important and convenient testing
tools a success" stated Greg Siokas,
Chief Executive Officer of Cosmos. "Based on our conversations with
our customers, we see a strong demand for fast and conducive
testing methods for Monkeypox Virus. We view this agreement as a
first step in a longstanding relationship with Virax."
The test is intended to aid in the rapid diagnosis of Monkeypox
virus in human serum and lesion exudate specimens, providing a
preliminary test result. Clinical correlation with patient history
and other diagnostic information is necessary to determine patient
infection status.
According to the US Centers for Disease Control (CDC), 61,282
laboratory confirmed cases of Monkeypox have been reported in 104
countries as of September 16,
20221 with 97 of these nations having never
reported cases of monkeypox previously. Monkeypox was declared as a
global health emergency by the World Health Organization and is
caused by an orthopoxvirus and can be transmitted from animals to
humans or human to human. Symptoms can begin with a high fever,
headaches, body aches, and fatigue. After about two days,
blistering rashes and boils on the face, hands, and feet start.
Patients are advised to be in isolation throughout the duration of
the disease, which can last approximately three to four weeks.
About Virax Biolabs Group
Limited
Founded in 2013, Virax Biolabs Group Limited is an innovative
diagnostics company focused on the prevention, detection and
diagnosis of viral diseases, with a particular interest in the
field of immunology.
In addition to distributing an array of viral test kits in
unique geographies, Virax Biolabs Group Limited is currently
developing a proprietary T-Cell Test technology with the intention
of providing an immunology profiling platform that assesses each
individual's immune risk profile against major global viral
threats. T-Cell testing can be particularly effective in the
diagnosis and therapeutics of COVID-19 as well as other threats
including Monkeypox, Hepatitis B, Malaria, Herpes and Human
Papillomavirus. For more information, please visit
www.viraxbiolabs.com.
Safe Harbor Statement
This press release contains forward-looking statements. In
addition, from time to time, we or our representatives may make
forward-looking statements orally or in writing. We base these
forward-looking statements on our expectations and projections
about future events, which we derive from the information currently
available to us. Such forward-looking statements relate to future
events or our future performance, including: our financial
performance and projections; our growth in revenue and earnings;
and our business prospects and opportunities. You can identify
forward-looking statements by those that are not historical in
nature, particularly those that use terminology such as "may,"
"should," "expects," "anticipates," "contemplates," "estimates,"
"believes," "plans," "projected," "predicts," "potential," or
"hopes" or the negative of these or similar terms. In evaluating
these forward-looking statements, you should consider various
factors, including: our ability to change the direction of the
Company; our ability to keep pace with new technology and changing
market needs; and the competitive environment of our business.
These and other factors may cause our actual results to differ
materially from any forward-looking statement. Forward-looking
statements are only predictions. The forward-looking events
discussed in this press release and other statements made from time
to time by us or our representatives, may not occur, and actual
events and results may differ materially and are subject to risks,
uncertainties, and assumptions about us. We are not obligated to
publicly update or revise any forward-looking statement, whether as
a result of uncertainties and assumptions, the forward-looking
events discussed in this press release and other statements made
from time to time by us or our representatives might not occur.
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https://www.cdc.gov/poxvirus/monkeypox/response/2022/world-map.html
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SOURCE Virax Biolabs