Achiko AG / Key word(s): Half Year Results
Achiko AG reports first half to 30 June 2022 results and provides corporate update as of 30 September 2022
Zurich, 3 October 2022: Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; OTCQB: ACHKF; ISIN CH0522213468) (“Achiko”, the “Company) is pleased to announce its financial results for the period of 6 months to 30 June 2022, and its progress since then which can be found at https://www.achiko.com/financials.
In the first half of 2022, Achiko AG has confirmed that calibration testing of its affordable non-invasive Covid-19 saliva-based rapid test technology, AptameXTM, indicated the system’s ability to deliver a >97% sensitive and >97% specific rapid test at a wider range of viral loads than most other rapid tests.
“The ability to offer healthcare professionals a practical alternative to PCR tests and less accurate antigen based rapid tests has been a major driver for Achiko’s research and clinical development teams to produce the world’s first scale application using DNA aptamers in a commercial diagnostic setting”, said Mr Steven Goh, CEO of Achiko. “The use of differentiated chemistry to develop a range of non-invasive, highly accurate, and cost-effective rapid tests with Achiko’s AptameX™ technology, positions the Company at the leading edge of diagnostic development moving forward.”
Despite another challenging period for the Company, it has made significant progress with its initial commercial application of its AptameX™ technology and expects to be generating significant revenue from AptameX™ in Indonesia in the final quarter of 2022.
Commercialisation in Indonesia and beyond
In April, the Company signed a major marketing and sales agreement with Pengurus Wilayah Nahdlatul Ulama DKI Jakarta (PWNU), the Jakarta District of Nahdlatul Ulama (NU), the largest Islamic organisation in the world, located primarily in Indonesia. The agreement provides for the supply and delivery of aptamer-based diagnostics, first to its Jakarta branch of over 4 million members, and on success, to the larger membership of over 90 million registered members. At the same time, the Company signed an updated agreement with PT Indofarma TbK (Indofarma) to use its sister digital passporting service Teman SehatTM (“Health Buddy”) as a telehealth platform for its diagnostic services. Indofarma is one of Indonesia’s oldest pharmaceutical companies (part owned by the Government). It supplies over 13,000 pharmacies, 4,000 hospitals, and 9,000 health facilities. It also conducts testing in over 100 airports and is a national manufacturer of medical devices and the National Contract Research Organisation.
In May, the Company successfully registered AptameX™ under the European Union Medical Device Research and In Vitro Diagnostic Regulation and obtained a CE Mark that grants it access to 27 countries in the European Union for its Covid-19 AptameX™ test and system.
The ability to manage costs with a reduced footprint has been important during a challenging period for the Company. Delays with completing the full year accounts and subsequent audit took up a considerable amount of management time and attention and contributed to the Company’s delay to raise sufficient finance in time to launch and scale production in Indonesia as planned before the end of the period.
Steven Goh commented: “We are grateful to our shareholders and our partners for their help and support and look forward to a brighter finish to 2022 and beyond.”
AptameX™: Product development, sales and market outlook
Despite delays in production to meet forecast demand, the outlook for AptameX™ in Indonesia remains encouraging and the Company expects to be producing and delivering over 1 million tests per month in the final quarter of this calendar year. Samples are also being produced for use in other Asian countries, Europe and the Middle East.
ABOUT ACHIKO AG
Achiko AG (SIX: ACHI.SW; OTCQB: ACHKF; www.achiko.com) is developing disruptive diagnostic solutions that put people first. The Company’s lead product, ApatameX™, is a rapid, reliable Covid-19 test with a companion app, Teman Sehat™, offering a user-friendly digital health passport. AptameX™ and Teman Sehat™ were launched in Indonesia in mid-2021 and AptameX™ received the CE Mark in the European Union in May 2022.
The AptameX™ DNA aptamer tests can be rapidly chemically synthesised, are cost-effective, easily scalable and have broad potential across multiple disease areas. Achiko aims to deliver fast, accurate and affordable diagnostic testing for a range of diseases in the rapidly evolving healthcare diagnostics field.
Headquartered in Zurich, Achiko has offices in Jakarta, and staff around the world.
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