REG - BATM Advanced Comm - First sales of rapid COVID-19 test in Russia

Batm Advanced CommunicationsAnnouncement

16/12/2021 07:00

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RNS Number : 8103V  BATM Advanced Communications Ld  16 December 2021

LEI: 213800FLQUB9J289RU66

16 December 2021

 

BATM Advanced Communications Limited

("BATM" or "the Group")

 

First sales of rapid COVID-19 at-home test in Russia

RAPiDgen® is the first self-testing COVID-19 test to receive Russian
government approval

 

BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for
networking solutions and medical laboratory systems, announces that it has
commenced sales of its RAPiDgen SARS-CoV-2 antigen test, which is an
easy-to-use rapid test for at-home use, in Russia. It was the first
self-testing COVID-19 test to be approved by the Russian public health
authorities.

 

The Group has commenced shipping its first order, worth €250k, which is
scheduled to complete in December. The Group expects to receive further
orders, of a greater value, in 2022. The test is being sold via pharmacy
outlets and ecommerce platforms.

 

The approval of RAPiDgen for sale followed rigorous testing by the Russian
public health authorities and comparison with the polymerase chain reaction
("PCR") tests in use in Russia. RAPiDgen was the first COVID-19 test to be
approved for at-home use in Russia and was chosen because of its accuracy and
easy-to-use design. It remains one of only three self-testing tests approved
for use in Russia and is the only test that has a one-step process with no
liquid handling involved.

 

The RAPiDgen SARS-CoV-2 Ag, which gives results in 10 minutes, uses the
lateral flow method. The test has been developed by the Group's Adaltis
subsidiary and Gamidor Diagnostics. It is being marketed under the Adaltis
brand.

 

Dr Zvi Marom, CEO of BATM, said: "We are delighted to have received further
validation of the high quality of our rapid test when evaluated by teams of
experts and compared with PCR tests, which are regarded as the 'gold
standard'. We believe our test is the most accurate and easy-to-use test for
at-home use in Russia, which represents a substantial market opportunity. The
strength of our rapid test is also demonstrated by its use by clients in
Israel that have very exacting standards and where early, precise detection of
COVID-19 in employees is crucial. We are increasing the production capacity
for RAPiDgen, which, in combination with our Adaltis portfolio of other
COVID-19 tests, has a vital role to play in managing the pandemic as it
continues to evolve."

 

Further details on the test, including an animated demonstration, can be found
here: https://rapidgen.net/ (https://rapidgen.net/)

 

 

Enquiries:

 

 BATM Advanced Communications
 Dr Zvi Marom, Chief Executive Officer                          +972 9866 2525
 Moti Nagar, Chief Financial Officer

 Shore Capital
 Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)  +44 20 7408 4050

 Henry Willcocks (Corporate Broking)

 Luther Pendragon
 Harry Chathli, Claire Norbury                                  +44 20 7618 9100

 

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