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Company has commenced shipping and will book first sales in May 2022
Reorganized production line able to meet stronger than expected demand for Achiko AG’s innovative DNA aptamer saliva-based rapid test for Covid-19
Validated calibration through quality control tests completed in Taiwan and Indonesia
Future financing expected to be met through working capital and trade finance options
ZURICH, Switzerland, April 28, 2022 (GLOBE NEWSWIRE) -- Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (OTCQB: ACHKF; SIX: ACHI; ISIN CH0522213468) (“Achiko”, the “Company”) is pleased to report that its reorganized production line in Indonesia is faring well following a recent production review by Steven Goh, CEO of Achiko AG, and Dr. Michael Edel, the inventor of Covid-19 rapid test AptameX™.
Following last week’s announcement of a marketing and sales agreement with Pengurus Wilayah Nahdlatul Ulama DKI Jakarta (“PWNU”), the Jakarta District of Nahdlatul Ulama (“NU”) and Indofarma, the Company is pleased to report stronger than expected demand for AptameX and is planning to deliver over two million kits in a shorter timeframe than previously contemplated to meet demand and is commencing first deliveries.
AptameX is unique in that unlike PCR testing which is expensive and often impractical, or rapid tests that rely on scaling the production of enzymes and has sensitivity limitations at lower viral loads, it uses synthetic DNA aptamers in a rapid testing format. The Company has successfully managed to classify results against a PCR test to cycle thresholds as high as 33, implying a sensitivity and specificity of greater than 97%, and has recently successfully operationalized this in production.
“We’re glad that we’re moving to a period where we can better manage living with Covid-19,” said Goh. “Vaccine inequality, waning effectiveness, and accelerated evolution with new variants of concern, all mean that testing is likely to play a critical role in our preparedness and for the health and wellbeing of the people that we care about. We have a unique and differentiated product in this regard.”
Achiko recently reorganized its manufacturing arrangements in Indonesia and is currently holding inventory for conjugate and plastics in Indonesia in preparation for sales deliveries following its marketing and sales agreement with NU. For sales and distribution outside of Indonesia, the Company plans to locate all production with partners in Taiwan.
As Achiko begins to look beyond Indonesia upon completion of its CE Mark shortly, the Company expects financing to be met through working capital and evaluating trade finance options as it responds to demand in other countries.
ABOUT ACHIKO AG
Achiko AG (OTCQB: ACHKF; SIX: ACHI.SW; www.achiko.com) is developing disruptive diagnostic solutions that puts people first. The company’s lead product is a rapid, reliable Covid-19 test with a companion app offering a user-friendly digital health passport. The test and companion app were launched in Indonesia in mid-2021 and an application for CE Mark approval in Europe will be submitted in 2022.
Achiko creates and develops aptamer-based diagnostics through its biotechnology division, AptameX™ and companion health apps via its digital mobile health technology division, Teman Sehat™. The AptameX DNA aptamer tests can be rapidly chemically synthesized, are cost-effective and have wide potential across multiple disease diagnostics. Leveraging AptameX and Teman Sehat, Achiko aims to deliver fast, accurate and affordable diagnostic testing for a range of pathogenic diseases and therapeutic indications in the rapidly evolving healthcare diagnostics field.
Headquartered in Zurich, Achiko has offices in Jakarta, and staff around the world.
Switzerland & Global
Farner Consulting Ltd.
T: +41 44 266 67 67
This communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.