XPhyto Signs Distribution Agreement for Czech Republic, Rollout Planned for Hungary, Slovakia, Ukraine and Russia
a 20-minute PCR run time without prior RNA extraction as part of the sample preparation. After the RT-PCR sample processing, the SARS-CoV-2 virus is detected on a test chip within 5 minutes and if SARS-CoV-2 is present, the result can be read visually immediately. The Agreement provides TechUnit with the right to distribute and sub-distribute Covid-ID Lab on a non-exclusive basis within the Czech Republic with the potential for territorial exclusivity based on
performance. XPhyto looks forward to building a close strategic relationship with TechUnit and will provide its new distributor with technical training and product, strategy, and marketing support. The parties are reviewing opportunities for the distribution of Covid-ID Lab in additional European territories including Hungary, Slovakia, Ukraine, and Russia. TechUnit is a privately owned company based in the Czech Republic focused on medical product distribution, advertisement and promotion. The Company expects to continue to sign additional distribution agreements in the near future and will release details upon execution of such agreements. XPhyto's diagnostics and drug formulation business is led by Prof. Dr. Beckert. Prof Dr. Beckert is a German-based scientist and corporate executive with over 20 years of healthcare management experience. The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 pandemic.