- XPhyto Therapeutics (CSE:XPHY) has signed a development, technology purchase and licence agreement with Germany-based 3a-Diagnostics GmbH
- The agreement relates to Xphyto’s oral dissolvable thin film (ODF) screening tests for the rapid detection of infectious diseases
- A number of work programs will be undertaken surrounding development and commercialisation pathways
- XPhyto will fund 3a’s research and development work up to the value of C$1.65 million over an 11-month period
- XPhyto Therapeutics (XPHY) is currently down 0.88 per cent to $3.37 per share, with a market cap of $164.95 million
XPhyto Therapeutics (CSE:XPHY) has signed a development, technology purchase and licence agreement with Germany-based 3a-Diagnostics GmbH.
Located roughly 50 kilometres southeast of Stuttgart, 3a specialises in the development, production and marketing of point-of-care test systems.
Using its biosensor development platform, 3a has amassed a pipeline of peptide-based biosensor screening tests for bacterial and viral infectious diseases. These include stomatitis, periimplantitis, periodontitis, scarlet fever and influenza.
The agreement between the two parties relates to the continued development and commercialisation of XPhyto’s oral dissolvable thin film (ODF) screening tests for the rapid detection of infectious diseases.
Dr. Heinrich Jehle, Managing Director of 3a-Diagnostics, said that rapid, low-cost screening tools allow for unprecedented identification of symptomatic and asymptomatic patients from larger populations.
“Our partnership with XPhyto has the potential to add significant value to 3a’s existing product portfolio, address a critical near-term need, COVID-19, and prepare 3a for the next pandemic threat through platform enhancement,” he added.
The deal contemplates a number of different work programs. Most notably, it will look at the further development and commercialisation of 3a’s existing product pipeline, which includes the use of XPhyto’s ODF platform to administer 3a’s biosensors.
It will also consider the development of a high-throughput biosensor screening platform for rapid identification of new biosensor targets, as well as the development of a dissolvable oral thin film COVID-19 screening test.
These programs will be carried out by 3a and Vektor Pharma TF GmbH, a wholly owned subsidiary of XPhyto.
XPhyto has committed to funding 3a’s research and development work, up to the value of roughly C$1.65 million over an 11-month period.
The company will also issue 50,000 common shares to 3a immediately, with an additional 200,000 to be issued upon the completion of certain milestones, and a further 250,000 upon achieving $38 million in gross sales within 24 months.
Hugh Rogers, CEO of XPhyto Therapeutics, said that both companies have a recognised synergy in their technologies.
“3a owns a proprietary biosensor platform with multiple products in development and XPhyto’s wholly owned subsidiary, Vektor, specializes in research, development and manufacture of oral dissolvable thin film medical products.
“By working together, we create the opportunity to quickly develop critical new products, adapt 3a’s biosensor technology to Vektor’s dissolvable oral delivery system and carry out EU GMP manufacturing as required,” he concluded.
XPhyto Therapeutics (XPHY) is currently down 0.88 per cent to $3.37 per share at 2:55pm EST.