SINGAPORE: Biolidics Limited has entered into a distribution agreement with Mediproud Co., Ltd, a company incorporated in Thailand, to appoint Mediproud as a non-exclusive distributor for the Company’s test kits for the detection of the Novel Coronavirus 2019 antibodies (the “COVID-19 Antibody Test Kits”), in Thailand for a duration of one year.
The Company’s COVID-19 Antibody Test Kits are for the qualitative detection of the antibodies to SARS-CoV-2 (the virus which causes the disease, the Novel Coronavirus 2019), IgG and IgM, in human serum, plasma and whole blood.
Under the terms of the Agreement, among others, Mediproud shall assist the Company to obtain all permits, licenses, registrations and consents from the applicable authorities in order to import and sell the COVID-19 Antibody Test Kits in Thailand.
Mediproud is in the process of obtaining the Thailand Food and Drug Administration’s (Thailand FDA) authorisation to offer the COVID-19 Antibody Test Kits in Thailand. The use of the COVID-19 Antibody Test Kits in Thailand will be limited to testing in laboratories or by healthcare workers at the point-of-care.
Incorporated in 2015, Mediproud is a distributor of medical equipment and tools in Thailand.
The Agreement is likely to contribute positively to the revenue of the Group for the current financial year ending 31 December 2020 (“FY2020”). However, the Company is unable to quantify the financial impact for FY2020 as the volume and timing of the orders by Mediproud cannot be determined as at the date of this announcement.
Import and sale of the Company’s COVID19 antibody Test Kits in Thailand is subject to its COVID-19 Antibody Test Kits obtaining all permits, licenses, registrations and consents from the applicable authorities in Thailand, and in particular, the authorisation of the Thailand FDA (Regulatory Approvals).