SugenTech Receives Export Approval for COVID-19 Neutralizing Antibody Test Kit... "Expecting Benefits from Vaccination in Major Overseas Countries"
[Asia Economy Reporter Hyunseok Yoo] SuzenTech announced on the 19th that its neutralizing antibody quantitative test kit, 'SGT SARS-CoV 2 In Vitro Neutralizing Antibody Test,' has received export approval from the Ministry of Food and Drug Safety. SuzenTech had previously obtained the European CE certification for the neutralizing antibody quantitative test kit in January.
SuzenTech's neutralizing antibody quantitative test kit can determine whether 'neutralizing antibodies,' which neutralize the virus's cell penetration among antibodies formed in the body, have been produced. It not only detects the presence of neutralizing antibodies but also quantifies the 'neutralizing power,' indicating to what extent the neutralizing antibodies can neutralize COVID-19 infection, allowing assessment of vaccine effectiveness. Compared to existing products, it has a shorter reaction time, making it easier to analyze large volumes of samples.
The neutralizing antibody test kit is essential not only for confirming immunity after the first COVID-19 vaccine dose but also for determining the necessity and timing of booster shots, leading to high related demand. With the increase in vaccinated individuals, demand is expected to rise inevitably, and starting from this export approval, SuzenTech is expected to actively enter major overseas markets.
A SuzenTech official stated, "The statistical site 'Our World in Data' estimates that over 800 million people worldwide have completed COVID-19 vaccination, so demand for neutralizing antibody kits is expected to steadily increase."
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He added, "Through this export approval of the neutralizing antibody test kit, we plan to intensify sales mainly in countries with high vaccination rates, and we are also pursuing FDA Emergency Use Authorization (EUA) for entry into the U.S. market, expecting to achieve concrete results in overseas markets."
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