Last checked at 16 Dec 2021 07:00
LEI: 213800FLQUB9J289RU66
16 December 2021
BATM Advanced Communications Limited
("BATM" or "the Group")
First sales of rapid COVID-19 at-home test in Russia
RAPiDgen® is the first self-testing COVID-19 test to receive Russian government approval
BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces that it has commenced sales of its RAPiDgen SARS-CoV-2 antigen test, which is an easy-to-use rapid test for at-home use, in Russia. It was the first self-testing COVID-19 test to be approved by the Russian public health authorities.
The Group has commenced shipping its first order, worth €250k, which is scheduled to complete in December. The Group expects to receive further orders, of a greater value, in 2022. The test is being sold via pharmacy outlets and ecommerce platforms.
The approval of RAPiDgen for sale followed rigorous testing by the Russian public health authorities and comparison with the polymerase chain reaction ("PCR") tests in use in Russia. RAPiDgen was the first COVID-19 test to be approved for at-home use in Russia and was chosen because of its accuracy and easy-to-use design. It remains one of only three self-testing tests approved for use in Russia and is the only test that has a one-step process with no liquid handling involved.
The RAPiDgen SARS-CoV-2 Ag, which gives results in 10 minutes, uses the lateral flow method. The test has been developed by the Group's Adaltis subsidiary and Gamidor Diagnostics. It is being marketed under the Adaltis brand.
Dr Zvi Marom, CEO of BATM, said: "We are delighted to have received further validation of the high quality of our rapid test when evaluated by teams of experts and compared with PCR tests, which are regarded as the 'gold standard'. We believe our test is the most accurate and easy-to-use test for at-home use in Russia, which represents a substantial market opportunity. The strength of our rapid test is also demonstrated by its use by clients in Israel that have very exacting standards and where early, precise detection of COVID-19 in employees is crucial. We are increasing the production capacity for RAPiDgen, which, in combination with our Adaltis portfolio of other COVID-19 tests, has a vital role to play in managing the pandemic as it continues to evolve."
Further details on the test, including an animated demonstration, can be found here: https://rapidgen.net/
Enquiries:
BATM Advanced Communications | |
Dr Zvi Marom, Chief Executive Officer | +972 9866 2525 |
Moti Nagar, Chief Financial Officer | |
Shore Capital | |
Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory) Henry Willcocks (Corporate Broking) | +44 20 7408 4050 |
Luther Pendragon | |
Harry Chathli, Claire Norbury | +44 20 7618 9100 |