EQS-Adhoc: Achiko signs licensing deal with Regenacellx.sl to commercialise breakthrough Covid-19 testing technology and to further expand its platform
EQS Group-Ad-hoc: Achiko AG / Key word(s): Agreement Achiko signs licensing deal with Regenacellx.sl to commercialise breakthrough Covid-19 testing technology and to further expand its platform Zurich, 2 July 2020 - Achiko AG (ACHI:SWX), a Swiss FinTech company listed on the SIX Swiss Exchange, announces the licensing of a Covid-19 testing technology developed by Regenacellx.sl. The company plans to take it through clinical trials and commercialise the technology to apply it in conjunction with Teman Sehat, the company's pandemic management platform. Regenacellx.sl's new Covid-19 test uses advanced DNA aptamer technology, allowing for more accurate results and making it more accessible, faster and significantly cheaper than existing Polymerase chain reaction (PCR) or serological tests. PCR testing suffers from limited accuracy while incurring high costs, and serological tests only indicate an infection in the past. Achiko has signed partnerships to accelerate the development and commercialisation of the new test kit employing Regenacellx.sl's aptamer technology. Commercial terms with Regenacellx.sl will be finalised by the end of July 2020 and indicatively will give Achiko an exclusive license to the technology and foresee royalty payments to Regenacellx.sl of 5% on gross sales net of hardware costs for an assay reader. Achiko plans to leverage its Covid-19 test results capture and tracing application, Teman Sehat, with the new test kit, to help bring together a powerful combination of tools to help governments and health authorities combat Covid-19 and potential future pandemics more effectively. Achiko also intends to extend its Teman Sehat platform to add additional telehealth capabilities in order to help more people to stay healthy and access affordable healthcare options. Looking beyond the current Covid-19 crisis, Achiko and its partners are investigating other potential uses for the technology, including expanding testing to other pathogens and diseases such as the recently discovered swine flu strain.
By refining its technology and operations stack in Indonesia first with subsequent expansion to other countries, the company then aims to deliver services across a range of industry verticals such as Game Payments, Buy Now / Pay Later, ECommerce Services and others directly and indirectly. Achiko has significant shareholders such as MNC Group, the largest media company in Southeast Asia. Its shareholder base also includes MOX, China's largest venture capital company focussing exclusively on the mobile sector and one of the three largest global VC companies in this field. Further information can be found at https://investor.achiko.com.
Switzerland Disclaimer End of ad hoc announcement |
Language: | English |
Company: | Achiko AG |
Lavaterstrasse 66 | |
8002 Zurich | |
Switzerland | |
Internet: | https://investor.achiko.com/ |
ISIN: | CH0522213468 |
Valor: | 48788430 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1084227 |
End of Announcement | EQS Group News Service |
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1084227 02-Jul-2020 CET/CEST