Achiko's rapid Covid-19 diagnostic test AptameX(TM) receives product and registration approval from Indonesia's Ministry of Health
- AptameX™, Achiko's breakthrough DNA aptamer-based diagnostic test for Covid-19, received product and registration emergency use approval from the Ministry of Health in Indonesia, alongside its sister digital passporting service, Teman Sehat™ ("Health Buddy").
- PT Achiko Medika Indonesia, which is 50% owned by Achiko AG, and its manufacturing partner, PT Indofarma TBK, have signed an agreement for the production and registration of AptameX™.
- The approval, together with the partnership with PT Indofarma TBK, will enable access to low-cost and accurate Covid-19 testing for over 270 million Indonesians.
- Achiko closes funding with strategic investors for CHF 3.45 million. Proceeds will be used for working capital, business consolidation, and redemption of the Yorkville convertible note facility.
ZURICH, SWITZERLAND - EQS Newswire - 25 August 2021 - Ad hoc announcement pursuant to Art. 53 LR - Achiko AG (SWX: ACHI, ISIN CH0522213468) through PT Achiko Medika Indonesia ("Achiko", the "Company"), is pleased to announce that the Ministry of Health of the Republic of Indonesia has granted product and registration approval for its proprietary low-cost, rapid Covid-19 diagnostic test, AptameX™, alongside its sister digital passporting service, Teman Sehat™ ("Health Buddy"). Achiko's 50%-subsidiary, PT Achiko Medika Indonesia, and PT Indofarma TBK ("Indofarma) have entered into an agreement to manufacture AptameX™ and have received product registration approval in Indonesia.
The approval opens the door to the rapid scale-up of production and sale of Achiko's AptameX™ test kits in Indonesia. Available at an affordable price, AptameX™ provides millions of Indonesian residents with access to accurate diagnostic testing for Covid-19, enabling the country to more effectively control and contain the pandemic. Indonesia passed 50,000 daily Covid-19 cases in mid-July, amid the spread of the Delta variant in Southeast Asia.
"We are proud and excited to receive the official approval for our breakthrough test kit AptameX™. It is an immense achievement for us to be able to market it with Indofarma," said Steven Goh, CEO of Achiko. "At the projected vaccination rate, and considering likely mutations of the virus, the next few years may be very challenging not only for Indonesia, but also quite possibly for the entire world. The combination of AptameX™ and Teman Sehat™ provides communities and governments with an affordable, easy-to-use test and a digital passporting service, empowering them in their fight against Covid-19 and all its variants."
Covid-19 poses a challenge to traditional testing methods, as low viral loads evade most rapid tests, calling for a new paradigm. AptameX™ uses a proprietary, novel chemistry matching the speed of lateral flow rapid tests, while improving on sensitivity. At a significantly lower price point than other tests, it also offers a better user experience. Those that test positive are alerted promptly through the Teman Sehat™ digital passporting service and asked to follow local guidelines on isolation and quarantine. Its affordability, scalability and superior performance make it an ideal tool in Indonesia's fight against Covid-19.
Indofarma's President Director, Arief Pramuhanto, explains: "Testing regularly is crucial in containing the pandemic. AptameX™ is a Covid-19 diagnostic test produced domestically by and for the people of Indonesia that has been designed to be integrated into dental hygiene routines. Access to reliable and affordable testing will allow us to lead normal lives again and at the same time work to control the spread of Covid-19. Indofarma, in partnership with Achiko, aims to make this diagnostic readily available at an affordable price for everyone."
Dr Morris S. Berrie, President of Achiko, added: "Our team has been tireless in developing our technologies for rapid, affordable, diagnostic testing for Covid-19 and other forthcoming indications. AptameX™ is designed to be easy to use and affordable, and therefore accessible to anyone. We believe AptameX™ and our digital passporting service Teman Sehat™ will be vital diagnostic resources for many years to come."
In the cooperation between Achiko and Indofarma, a member of Indonesia's Holding BUMN Farmasi, which is partly owned by the Government of the Republic of Indonesia and listed on the Indonesia Stock Exchange (IDX: INAF), Achiko will provide the technology and all materials for diagnostic kits while Indofarma will carry out the production and product registration processes.
Following the Ministry of Health's approval for AptameX™, Achiko is looking forward to securing a CE mark and introducing AptameX™ and Teman Sehat™ swiftly in further countries and regions. In parallel, Achiko is also investigating applications of AptameX™ to a range of other pathogenic diseases and therapeutic indications.
Achiko, on product approval, has raised a total amount of CHF 3.45 million through share placement at an average price of CHF 0.192 per share to a leading Swiss venture capital group, OCS International Commodities & Investments FZCO and other private investors. The funds are to be used as working capital and production funds as well as for the redemption of the Yorkville convertible note facility from 25 November 2020.
"We're grateful for the support of all our investors and shareholders," said Achiko CEO Goh. "These most recent investments provide a solid platform to consolidate our strategy as a global leading diagnostics company, connecting our capabilities in Europe and Asia in the fight against the challenge of Covid-19."
ABOUT ACHIKO AG
Achiko creates and develops new innovations in healthcare technology through its biotechnology division, AptameX™, and its sister digital mobile health technology division, Teman Sehat™. The Company has created a unique healthtech capability that provides user-friendly diagnostic testing integrated with a digital passport solution for the management of Covid-19.
AptameX™ comprises of DNA aptamer-based technology that is cost-effective, chemically synthesised and widely applicable to the evolving diagnostic field of healthcare. Together with the digital mobile health app Teman Sehat™, Achiko is developing potential technologies that seek to deliver rapid, affordable diagnostic testing for a range of pathogenic diseases and therapeutic indications. The AptameX™ technology is licensed from Regenacellx.sl and Achiko has exclusive commercialisation rights.
Headquartered in Zurich, Achiko has offices in Hong Kong, Jakarta, Seoul and Singapore.
Further information can be found at www.achiko.com.
ABOUT PT ACHIKO MEDIKA INDONESIA
Achiko AG and PT Indonesia Farma Medis ("IFM") have established the joint venture company PT Achiko Medika Indonesia ("AMI") for the production and marketing of its testing platform developed from AptameXTM, a non-invasive DNA aptamer technology for the detection of Covid-19, for Indonesia. Its partner, IFM, is a medical device and pharmaceutical distribution company with a large network of relationships and distribution channels that includes hospitals, pharmacies and clinics across the main islands of Indonesia.
Further information can be found at https://achikomedika.com.
ABOUT PT INDOFARMA TBK
PT Indofarma TBK is one of Indonesia's oldest pharmaceutical companies that was founded in 1918 and in January 2020 became part of the BUMN Farmasi Holding.
PT Indofarma TBK continues to support the Government of the Republic of Indonesia programs in the health sector and contribute to improving health status and a better quality of life by committing to provide medicines with guaranteed quality and affordable prices for the community. In addition, the Company also supports the efforts of the government of the Republic of Indonesia in accelerating the handling of the Covid-19 pandemic by providing pharmaceutical products and medical devices, as well as health services. To date, Indofarma has had 321 distribution licenses for medicinal products and medical devices with distribution coverage spread across 29 branches throughout Indonesia.
Further information can be found at https://indofarma.id.
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.
The issuer is solely responsible for the content of this announcement.