SINGAPORE: Biolidics Limited has entered into a licensing agreement with Accelerate Technologies Pte Ltd to use Accelerates technology for the detection of COVID-19.

Accelerate is the commercialization arm of the Agency for Science, Technology and Research (A*STAR).

Pursuant to the Agreement, Accelerate has granted the Company non-exclusive worldwide rights to use the technology for the detection of COVID-19 viral spike/Angiotens in Converting Enzyme 2 (ACE2) blocking antibodies for diagnostic use for the Term to further develop the Technology, and market the serology tests which incorporate the Technology.

The Company aims to develop new serology tests which incorporate the Technology. ACE2 is a cellular receptor for corona viruses such as SARS and novel coronavirus SARS-CoV-2. Spike proteins from these coronaviruses recognize and bind to ACE2 on the surface of target cells (e.g. lung cells), allowing the virus to enter cells and infecting the person.

Most commercially available serology tests against COVID-19, including the Company’s COVID-19 Antibody Test Kit launched on 30 March 2020, detects the IgG and Ig Mantibodies (a group of antibodies produced by the body in response to the infection of SARS-CoV-2 virus).

As such, these serology tests which detect the presence of IgG and IgM are currently used only as an assistive tool in the detection of COVID-19, and they are not able to detect specific antibodies that bind to the SARS-CoV-2 virus which interfere with its ability to infect target cells.

Serology tests which incorporate the Technology allow the detection of such COVID-19 viral spike/ACE2 blocking antibodies which may interfere with the ability of the virus to infect the target cells and may provide indication of protective immunity againstCOVID-19.

However, it is important to note that there is currently little information on the level of antibodies sufficient to confer protective immunity to an individual and how long such protective immunity against COVID-19 may last in an individual.