Curetis and Quaphaco Enter into Unyvero Distribution Partnership for Vietnam
- Exclusive distribution agreement for initial term of 3 years
- Quaphaco commits to minimum purchase totaling about EUR 1.9 million during initial term
Amsterdam, the Netherlands, San Diego, CA, USA, and Holzgerlingen, Germany, February 6, 2020, 08:00 am CET - Curetis N.V. (the "Company" and, together with its subsidiaries, "Curetis"), a developer of next-level molecular diagnostic solutions, today announced that it has entered into a distribution agreement with Quaphaco for Vietnam. Quaphaco, headquartered in Ho Chi Minh City, is a leading medical equipment supplier in Vietnam that is already working with numerous renowned global IVD manufacturers.
Under the agreement, Quaphaco has the exclusive right to commercialize Curetis’ Unyvero A50 instrument system and application cartridges for the diagnosis of severe infections in hospitalized patients in Vietnam. The agreement has a term of initially three years and can be extended by two-year increments. In return, Quaphaco has committed to significant minimum purchases of Unyvero instruments and application cartridges over the initial 3-year term of the agreement amounting to a total of about EUR 1.9 million revenue to Curetis. Quaphaco is responsible for product registration that is expected by Q2-2020 and has committed to significantly invest into the market introduction of the Unyvero product line in Vietnam.
With 88-97% of drug stores in Vietnam dispensing antibiotics without a prescription despite the fact that it is prohibited by Vietnamese law and despite antibiotics accounting for more than 50% of drugs used in human medicine, antimicrobial resistance is among the most severe threats to human health in Vietnam (Ref 1). Responding to this threat, Vietnam in 2013 became the first country in the World Health Organization’s (WHO) Western Pacific Region to approve a national action plan to combat antimicrobial resistance (Ref 2).
“With at least one in ten patients suffering from healthcare-associated infections in Vietnam, we believe that a rapid and comprehensive detection of the pathogens and their antibiotic resistance markers with Unyvero will help to improve outcomes for patients with severe infections while supporting the antibiotic stewardship efforts that are high on the agenda of our public health institutions,” said Dr. Mai Van Phong, CEO of Quaphaco.
“We are very pleased to work with Quaphaco as a highly committed partner in making Unyvero available in Vietnam,” commented Oliver Schacht, PhD, CEO of Curetis. “This partnership strengthens our commercial presence in the ASEAN region and complements our commercial efforts with our partner Acumen Research Laboratories in Singapore, Indonesia, Thailand, and Malaysia.”
Curetis N.V.’s (Euronext: CURE) goal is to become a leading provider of innovative solutions for molecular microbiology diagnostics designed to address the global challenge of detecting severe infectious diseases and identifying antibiotic resistances in hospitalized patients.
Curetis’ Unyvero System is a versatile, fast and highly automated molecular diagnostic platform for easy-to-use, cartridge-based solutions for the comprehensive and rapid detection of pathogens and antimicrobial resistance markers in a range of severe infectious disease indications. Results are available within hours, a process that can take days or even weeks if performed with standard diagnostic procedures, thereby facilitating improved patient outcomes, stringent antibiotic stewardship and health-economic benefits. Unyvero in vitro diagnostic (IVD) products are marketed in Europe, the Middle East, Asia and the U.S.
Curetis’ wholly-owned subsidiary Ares Genetics GmbH offers next-generation solutions for infectious disease diagnostics and therapeutics. The ARES Technology Platform combines what the Company believes to be the most comprehensive database worldwide on the genetics of antimicrobial resistances, ARESdb, with advanced bioinformatics and artificial intelligence.
For further information, please visit www.curetis.com and www.ares-genetics.com.
This document constitutes neither an offer to buy nor to subscribe securities and neither this document nor any part of it should form the basis of any investment decision in Curetis.
The information contained in this press release has been carefully prepared. However, Curetis bears and assumes no liability of whatever kind for the correctness and completeness of the information provided herein. Curetis does not assume an obligation of whatever kind to update or correct information contained in this press release whether as a result of new information, future events or for other reasons.
This press release includes statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “expects”, “intends”, “may”, “will”, or “should”, and include statements Curetis makes concerning the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Curetis’ actual results may differ materially from those predicted by the forward-looking statements. Curetis undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by law.
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