ViraxClear Receives PFDA Approval for ViraxClear Rapid Test Kit Distribution to the Philippines
Global Care Capital Inc. a global investment company which engages in early stage investment opportunities in private and public companies, announced that its portfolio company, ViraxClear, through its joint venture, Shanghai Biotechnology Devices Ltd. has received its approval certificate from the Philippines Food And Drug Administration for the distribution of COVID-19 Rapid Antibody Test Kits for the Philippines market with a contract valued at up to $7.5 million in gross sales for the distribution of up to 1 million Test Kits for the Philippines.
Distribution Contract for Test Kits in the Philippines
Following PFDA approval, Philippines medical device distribution company Novarad Asia Pacific Company has become ViraxClear’s exclusive distribution partner for the Philippines for ViraxClear Test Kits. The full contract value is worth up to $7.5 million, over a period of 1 year.
Alex Somjen, CEO of Global Care, stated “This distribution deal represents the first of many similar deals that ViraxClear is currently lining up with other strategic distribution partnerships it has been working on over the last few months. The Philippines is a major economy in South East Asia and we are excited to work with Novarad, who are very well positioned to market the ViraxClear products to its’ 100 million + population.”
The PFDA requires test kits to be on their approved list before being allowed through customs for sale in the country. ViraxClear tests have been approved in collaboration with Hangzhou Clongene Biotech Ltd., the ViraxClear manufacturing partner for the Philippines region.
Hangzhou Clongene Biotech Ltd. is a high-tech enterprise specialized in biological raw materials and in vitro diagnostic products. Founded in 2004, Clongene is equipped with state-of-the-art ISO 13485:2016 accredited- China GMP compliant R&D and manufacturing facilities covering 19,000 square meters in Hangzhou, China. Their products have obtained CE certificates, FSC certificates and US FDA 510(k) Clearances. Their product lines include Raw materials, Antibodies, Antigens, Enzymes, Immuno diagnosis, Fluorescence immunoassay (FIA) and Molecular diagnosis- PCR.
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