MELBOURNE, AUSTRALIA / ACCESSWIRE / July 19, 2021 / Dotz Nano Limited (ASX:DTZ) ("Dotz" or the "Company"), an advanced materials company specializing in tracing, authentication and diagnostics solutions, has recently announced its entry into a distribution agreement with UAE-based Hygiene Links International General Trading LLC ('Hygiene Links"). The agreement for distribution of its SARS-CoV-2 virus detection technology ("Dotz Test Kits") in the UAE, Egypt, and Sudan marks Dotz's first commercial order for its Test Kits as it takes its diagnostic technology to the global market. The distribution agreement is subject to a minimum order purchase requirement of 50,000 units per month over the next six months, forecast to generate $2.1 million from the three countries.
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One promising application of the Dotz Test Kits is to commercial air travel. One Test Kit has the ability to process nearly 100 samples in under 30 minutes, enabling rapid testing on a mass scale for incoming passengers. Dotz's diagnostic kits are as accurate as standard PCR tests, and their use of a saliva sample translates into a more comfortable and convenient testing experience for both adults and children. As such, Dotz Test Kits significantly streamline pre-existing SARS-CoV-2 detection methods that have created costly bottlenecks in international travel and slowed the overall progress of economic re-openings worldwide.
According to a recent analysis from Research Dive, the global COVID-19 diagnostic market is projected to increase its revenue by over 30% from 2021-2028 at a stable CAGR of 3.5%. This forecast dovetails with a spike in worldwide testing as a consequence of the rapid proliferation of increasingly infective COVID-19 variants. Leveraging these two trends, Dotz's rapid diagnostic test kits are expected to play a life-saving role by catalyzing mass testing efforts in national and regional markets currently reeling from a sharp spike in active cases that has overwhelmed public health sectors' capacity.
The distribution agreement grants Hygiene Links the right to sell Dotz Test Kits to Egypt, Sudan, and the UAE for a period of two years. Dotz has received a $2.1 million initial purchase order from Hygiene Links, with the first shipment of Test Kits arriving to Hygiene Links over a six month period starting in August 2021.
Following a successful blind clinical trial of the nasopharyngeal swab Dotz Test Kits in the USA, Dotz Test Kits have successfully obtained the CE Mark Certification mandated by the European Union for both nasopharyngeal swab and saliva-based samples, paving the way for commercial inroads into the European market. The Company has also updated its pre-existing Emergency Use Application (EUA) from May 2021 with the FDA to include its saliva-based Dotz Test Kits in what are significant steps towards entering the lucrative American market. This move follows on the heels of a five-year non-exclusive manufacturing agreement Dotz concluded with Systaaq Diagnostic Products, based in Virginia, USA, for the production of its diagnostic test kits in compliance with FDA and EU regulations.
Dotz Chairman and Interim CEO Bernie Brookes commented: "Our first commercial order within the diagnostic domain is a significant achievement for Dotz. It reflects the versatility of our technology, which has applications within almost every industry. We believe our virus detection technology is truly industry-leading, providing a method to accurately identify the SARS-CoV-2 virus at scale and in a cost-effective and timely manner."
"While we are awaiting FDA regulatory approval for the nasopharyngeal swab and saliva-based Dotz Test Kits, our successful clinical trial of the nasopharyngeal swab Dotz Test Kits and CE Mark authorisation has enabled us to start to engage with a number of potential customers. At the same time we are continuing to commercialize our anti-counterfeiting technology, and applying for regulatory approval for the Dotz Test Kits in other markets."
Dotz Nano Limited (ASX:DTZ) is a technology leader in research, production and marketing of anti-counterfeiting, authentication and tracing solutions. Since the onset of the global pandemic, the Company has expanded its technological portfolio to include a number of groundbreaking COVID-19 solutions. Its unique products ValiDotz, BioDotz, Fluorensic and InSpec are exceptional solutions for numerous applications that range from bio-imaging, liquids tagging, lubricants and DEF authentication, polymers tagging, anti-counterfeiting, oil/gas, and brand/reputation protection.
To learn more about Dotz or contact the Company, please visit the website and corporate video via the following link: www.dotz.tech.
To view the source version of this press release, consult the Announcement Archive (July 14th, 2021) on https://www.dotz.tech/investors/.
SOURCE:Dotz Nano Limited
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