Daewoong Pharmaceutical and Genomictree said the two companies would cooperate in exporting the latter's AccuraDtect SARS-COV-2 RT-qPCR Kit, a Covid-19 testing device.

Daewoong Pharmaceutical has agreed with Genomictree to export the latter’s AccuraDtect SARS-COV-2 RT-qPCR Kit, a Covid-19 testing device. (Daewoong)

"The kit diagnoses the virus infection by targeting the leader sequence that exists most in infected cells and the normally detected N2 gene," the company said. "The kit's accuracy is also high as it exponentially increases the virus gene by real-time polymerase chain reaction (RT-qPCR), a gene amplification technique."

Medical institutions can confirm the results within four hours after sample collection, the company added.

Under the accord, Daewoong plans to actively promote the kit's approval for overseas licenses by utilizing its foreign branch offices and an extensive network of partners. The company plans to receive regulatory nods and discuss exports in countries that have seen a recent surge in the number of Covid-19 patients, such as the U.S., Latin America, and the Middle East.

Before the agreement, Genomictree received Europe's CE In-Vitro Diagnostics (CE-IVD) certification and emergency use approval in Peru and Singapore. It is also waiting to win go-ahead for emergency use in several countries, including the U.S., India, Saudi Arabia, Malaysia, Brazil, Canada, and Indonesia.

"Armed with abundant global business capabilities, we signed a global collaboration agreement with Genomictree to expand the overseas supply of Covid-19 diagnostic kits," Daewoong Pharmaceutical CEO Jeon Seng-ho said.

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