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VANCOUVER, British Columbia, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Global Care Capital Inc. (CSE: HLTH, FRANKFURT: L6V1) (the “Company” or “Global Care”) a global investment company which engages in early stage investment opportunities in private and public companies, is pleased to announce that its portfolio company, ViraxClear, through its joint venture, Shanghai Biotechnology Devices Ltd. (“SBD”) has signed an exclusive distribution Agreement , on October 28th, 2020 with Biosonda Technologia (“Biosonda”) for the distribution of Rapid Antibody Test Kits (“Test Kits”) for the Chile market. An initial deposit has been made in the total sum of US$ 3.5 million in the first year alone for the distribution of up to 1 million test kits for Chile.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/58f1a9e4-9dc7-4a72-8020-11a189aed69b.
James Foster, CEO of ViraxClear, stated “This exclusive distribution agreement represents a huge opportunity for ViraxClear and our wider ambitions for South America. Chile has been hit hard by COVID-19 and has a high demand for antibody test kits as well as PPE and other products, which facilitate a safe return to work and normal life. Our ViraxCare PPE brand is also strategically positioned to offer these products, including masks, gloves, infrared thermometers, pulse oximeters, sanitising sprays and UV technology. This Contract for Chile is one of the regions we are partnering with for the South American market, with announcements for Guatemala and others to follow.”
Exclusive Distribution Contract for Test Kits in Chile worth up to US $3.5 million
ViraxClear has received an initial cash deposit for their Test Kits for the Chilean market with a contract signed with Biosonda as their exclusive Chilean distribution partner worth up to US $3.5 million in the first year.
Biosonda is a biotechnology company founded in Chile in 1992 by leading scientists. It is currently one of the main distribution companies of products for scientific research and clinical diagnosis in Chile, with a recognizable corporate image in the national market. Biosonda work with some of the top global brands in the clinical and diagnostic industries and handle everything from marketing, import, logistics, research and development and sales.
The Biosonda commercial department is made up of a sales force with a high degree of specialization and extensive experience in the market made up of experts in Molecular Biology and Immunology. They offer a technical service laboratory for equipment maintenance, repair and training, a personalized after-sales service, and a commercial-logistics team that manages the tasks of quotation, import, logistics, inventory, orders and dispatch to provide an optimum service.
El Instituto de Salud Pública de Chile (“ISP”)
The Chilean government require medical testing devices to receive ISP Approval before they can be sold in Chile. Vazyme Biotechnology, ViraxClear partners, are on the list of ISP Approved factories, allowing ViraxClear tests to be imported and sold nationally.
Vazyme Biotech is a highly reputable producer of enzymes and antibodies with products covering clinical diagnosis, molecular diagnostics, high-throughput sequencing and life science research, as well as RNA sequencing. Vazyme Biotech owns a dedicated 8000 m2 R&D site and have established the Biotechnology Industry Research Institute, which is comprised of a team of nearly 100 scientists.
The Test Kits are intended for the qualitative detection of IgG and IgM antibodies against 2019 Novel Coronavirus, produced by the immune system after virus infection. IgM is the earliest antibody that appears upon the first immune response, with detection indicating an early stage infection. IgG is produced later and lasts a long time in the body, indicating a prior infection. The combination of the two markers offers an insight into what stage the virus is has reached.
About ViraxClear
ViraxClear focuses on commercializing novel products that address significant healthcare needs with a specific target on the novel coronavirus (COVID-19). The company’s main focus is marketing its ViraxClear Rapid IgM-IgG Combined Antibody Test. The ViraxClear Rapid IgM-IgG Combined Antibody Test for COVID-19 is a lateral flow immunoassay used to qualitatively detect both early and late marker IgG/IgM antibodies.
About ViraxCare
ViraxCare sells high quality, competitively priced PPE to individuals, globally through its website www.viraxcare.com. KN95 masks, 3 ply masks, nitrile gloves, infrared thermometers, pulse oximeters, wipes are just some of the medical equipment and PPE available on the website for direct sales. ViraxCare also offers bulk PPE and medical equipment purchases for businesses and organisations.
About Global Care
Global Care Capital is a global investment company which specializes in providing early stage financing to private and public companies. The Company engages in new, early stage investment opportunities in previously underdeveloped assets and obtaining positions in early stage investment opportunities that adequately reflect the risk profile.
GLOBAL CARE CAPITAL INC.:
Company Contact:
Company Contact:
Alex Somjen, President & CEO
604-687-2038
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Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com