Philosys Health Supplies COVID-19 Test Kits to German and Greek Companies

[Asia Economy Reporter Lim Jeong-su] Kosdaq bio company Philosis Healthcare announced on the 13th that it has signed an overseas supply contract for the COVID-19 diagnostic kit 'Gmate COVID-19'. The contracting companies are Germany's TAHA Life Science and Greece's GNP Diagnostic.

TAHA is a pharmaceutical company based in Europe and the Middle East with annual sales of approximately 20 billion KRW. GNP is a European in vitro diagnostic medical device specialist company with sales around 10 billion KRW. The minimum order amount for this contract is known to be about 6.6 billion KRW (3.3 billion KRW each).

According to Philosis Healthcare, the currently used RT-PCR method for COVID-19 diagnosis is not an on-site test, so collected specimens must be transported to specialized facilities such as laboratories. There are concerns about specimen deterioration or mixing during transport, and results may vary depending on the skills of the specialized personnel conducting the tests, which is a drawback.

On the other hand, Gmate uses an immunoassay method that takes only 20 minutes for testing, enabling on-site diagnosis. With 93% accuracy, its precision is not significantly different from RT-PCR, attracting attention from overseas countries.

A Philosis Healthcare official explained, "The Sandwich ImmunoAssay method, developed by applying patented technology jointly filed with our affiliate Philosis, selectively isolates only the COVID-19 virus by shaking a sieve," adding, "It greatly improves the sensitivity and accuracy, which are drawbacks of existing immunoassay methods."

This content was produced with the assistance of AI translation services.