Hoofddorp, the Netherlands, 6 April 2020. IGEA Pharma (SIX: IGPH) today announced to starting supply of a COVID-19 antibody test following an agreement signed with a PRC independent SARS-CoV-2 IgM/IgG test developer and manufacturer.
According to terms, IGEA has ensured the exclusivity of the test under certain volume-based conditions for the US States New York, California, and Louisiana, severely affected by the pandemic outbreak.
IGEA expects to start FDA approved distribution within a very short time. The actual supply capacity is 100’000 tests per day, with the ability to expand if demand increases.
Antibody-based tests can tell whether someone has already had COVID-19, but they are not as good at testing if a person currently has it. Still, the FDA has issued its first authorization for a COVID-19 antibody test for emergency use a few days ago, which most probably indicates that the agency thinks the benefits of having such tests available to help in the response to the pandemic outweigh their known limits. IGEA expects this will lead many other players to develop antibody tests.
IGEA Pharma focuses on health-tech and med-tech products and devices. Health-tech products are exclusively preventative. IGEA commercializes an Alzheimer’s prevention set (which includes ’Alz1’, an at-home lab test kit to measure non-bound copper in the blood and ‘Alz1 Tab’, a natural dietary supplement designed to reduce blood heavy metals content), and expects to launch a diabetes type II prevention set in 2020. Non-ceruloplasmin bound copper is an expected Alzheimer’s and diabetes type II associated biomarker. Determining and regulating non-bound copper can contribute to reduce the risk of Alzheimer’s and diabetes type II. Med-tech products focuses on selected solutions and specialities. IGEA operates in air and inanimate environmental surface sanitization with aerosol technology-based devices and expects to start commercializing polymeric based medical bags and other specialty devices for medical use during 2020.
IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered in Hoofddorp, the Netherlands. Find out more at igeapharma.nl
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