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Wednesday, Virax Biolabs Group Limited (NASDAQ:VRAX) entered into a distribution agreement with a supplier of (RT) PCR Mpox virus detection kits to commercialize them in some European and Gulf countries.
The RT PCR Mpox virus detection kits are approved for sale in Europe and also authorized by the Medicines and Healthcare Products Regulatory Agency, the product regulatory agency for the United Kingdom.
Earlier this month, the World Health Organization issued an international public health emergency due to higher cases of mpox infection in African countries.
These tests perform with a sensitivity of 96.7% and specificity of 93.72%, with the ability to deliver results in under 70 minutes.
Under the terms of the agreement, Virax is authorized to import, sell, and distribute Virax-branded Mpox virus Nucleic Acid Detection Kits in European countries, including the United Kingdom, France, Portugal, The Netherlands, Belgium, Sweden, Finland, Denmark, Norway, Germany, Spain, Switzerland, Austria, and the GCC set of nations, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
Cosmos Health Inc. (NASDAQ:COSM) announced under its agreement with Virax Biolabs it continues to hold the rights to distribute mpox virus real-time PCR detection kits, with exclusive distribution rights in Greece and Cyprus and non-exclusive distribution rights across Europe.
Price Action: At last check on Wednesday, VRAX stock was down 4.70% to $4.65 during the premarket session.
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This article EXCLUSIVE: Virax Biolabs Inks Distribution Pact For Mpox Diagnostic Kits In Europe And Middle East originally appeared on Benzinga.com
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