Virax Biolabs Group Limited (VRAX) has entered into a distribution agreement with a supplier to commercialize (RT) PCR Mpox virus detection kits in several European and Gulf countries. This move comes as the World Health Organization declared a global public health emergency due to increased Mpox cases, particularly in African countries.
The RT PCR Mpox virus detection kits are already approved for sale in Europe and have received authorization from the Medicines and Healthcare Products Regulatory Agency (MHRA) in the United Kingdom. These tests demonstrate high sensitivity (96.7%) and specificity (93.72%), delivering results within 70 minutes.
Under the terms of the agreement, Virax Biolabs will have the authority to import, sell, and distribute its branded Mpox virus Nucleic Acid Detection Kits in a number of European countries including:
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United Kingdom
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France
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Portugal
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The Netherlands
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Belgium
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Sweden
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Finland
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Denmark
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Norway
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Germany
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Spain
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Switzerland
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Austria
The agreement also covers GCC nations:
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Bahrain
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Kuwait
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Oman
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Qatar
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Saudi Arabia
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United Arab Emirates
It is important to note that Cosmos Health Inc. (COSM), under a separate agreement with Virax Biolabs, retains distribution rights for the Mpox virus real-time PCR detection kits. Cosmos holds exclusive rights in Greece and Cyprus, and non-exclusive rights across Europe.
VRAX stock experienced a 4.70% decline to $4.65 during the premarket session on Wednesday.
