DECN Announces Distribution Agreement Covering GenViro! Covid-19:10.5 Swift Kits and Its GenUltimate and TGB Products in India, Malaysia, Sri Lanka, Singapore, Indonesia, Thailand, Vietnam, Nepal, Bangladesh and Australia
COMPANY ALSO ANNOUNCES IT IS CURRENTLY EVALUATING ADDITIONAL AGREEMENTS FOR DISTRIBUTION OF GENVIRO! SWIFT KITS IN BRAZIL, ARGENTINA, NIGERIA AND THE PHILIPPINES, AND THAT IT HAS FILED A PROVISIONAL PATENT FOR ITS GENULTIMATE TBG PRODUCT
LOS ANGELES, CA / ACCESSWIRE / July 8, 2020 / Decision Diagnostics Corp. (OTC PINK:DECN) through its subsidiary Pharma Tech Solutions, Inc., today announced it has entered into a written distribution agreement for its GenViro! Covid-19 10.5 Second Swift Kit and other products with Global Swift Sensor Distribution, who will represent the company's GenViro! and GenUltimate products on a non-exclusive but first-to-market basis in India, Sri Lanka, Singapore, Malaysia, Indonesia, Thailand, Vietnam, Nepal, Bangladesh and Australia. The company also said it is evaluating two additional distribution offers from Brazil and Argentina (as a combined distributorship) as well as separate proposals for distributorships in Nigeria and the Philippines with the Nigeria distributorship closer to completion.
The company plans to manufacture two GenViro! International Covid-19 Swift Kit packages for sale in Central and Southern Asia and reports that its new distributor will be opening hubs in Singapore, India and Australia. The distributor has agreed to have these hubs managed locally by equity personnel selected specifically for their knowledge and experience in dealing with the national and local governments where the GenViro! Swift Kit will be available. The company still estimates that sales for its International GenViro! Swift Kits will commence in late Summer 2020. The new distributorship has agreed to buy the GenViro! and GenUltimate products in international packaging and their particular product requests are now being initiated by the company.
"While we have remained in regular contact with the U.S. FDA and are looking toward an authorization for our GenViro! Covid-19 :10.5 Swift Kits to permit sales in the United States and Puerto Rico, the company has conducted and continues to conduct appropriate testing, and has been busy assembling the network of distributors and relationships internationally to bring our critically needed Covid-19 testing to these foreign markets. Finally, we are almost there," said Keith Berman CEO of DECN. "We are seeing huge interest in the GenViro! Swift Kit from potential partners across the globe and are actively planning our manufacturing requirements to meet the expected demand. We anticipate a number of these countries to have the ability to conduct our Covid-19 virus antigen testing in a matter of weeks, and look forward to seeing such testing grow rapidly. In the midst of this flurry of international distribution activity, we are also conducting final interviews to select a clinical trial partner who will create a new testing protocol for for GenViro! testing using the FDA's newly revised testing protocols. We do expect to come to agreement on testing."
As the company is announcing these distribution agreements and the opening of markets for global sales, it also announced it has filed for a Provisional Patent for its GenUltimate TBG product technology, in what it believes to be a significant milestone in the continued development of its proprietary technology.
ABOUT DECISION DIAGNOSTICS CORP
Decision Diagnostics Corp. is the leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters. DECN's products are designed to operate efficiently and less expensively on certain glucose meters already in use by almost 7.5 million diabetics worldwide. With newly inspired technology diabetic test strips already in the final stages of development, DECN products compete on a worldwide scale with legacy manufacturers currently selling to 71+ percent of a $15+ billion at-home testing market. The company's new GenViro!™ product designed to test for Covid-19 will be available at the end of summer internationally, is not yet available in the United States or Puerto Rico and Emergency (EUA) Waivers are in process with the U.S. FDA.
This release contains the company's forward-looking statements which are based on management's current expectations and assumptions as of July 7, 2020, regarding the company's business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results.
SOURCE: Decision Diagnostics Corp.
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