WITH THIS DEAL THE TOTAL NUMBER OF COUNTRIES COVERED BY DECN INTERNATIONAL AGREEMENTS NOW APPROACHES 50 WITH MORE ANTICIPATED
LOS ANGELES, CA / ACCESSWIRE / December 10, 2020 / Decision Diagnostics Corp. (OTC PINK:DECN) www.decisiondiagnostics.co, a leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters through its subsidiary Pharma Tech Solutions, Inc., today announced it has signed an exclusive distribution agreement for its Genviro! testing product with a Deusseldorf, Germany-based distribution company currently doing business in 20 European countries.
This new agreement covers sales to be made in various European territories, including the UK and Norway and nations in the European Union, including Germany, Austria, Switzerland, Ireland, France, Spain, Italy, Denmark, Sweden, Finland, Portugal, Belgium, Netherlands, Poland, Luxemburg, Hungary, Slovakia and the Czech Republic. The agreement's initial four (4) year term can be extended by the parties for one or more successive one (1) year renewal periods or such longer period as agreed to by them. This distributor will be responsible for the required EU filings and obtaining a CE mark. This announcement follows last week's announcement of a similar distribution-dealer agreement covering the Russian Federation countries and the Ukraine.
"We continue to follow our international strategy and we are seeing the benefits. This most recent announcement of an exclusive agreement with an EU distributor covering a significant portion of Europe reflects further interest in Genviro's! :10 testing ability to detect Covid-19 and follows what we've already experienced with similar agreements covering India, other countries in Asia, the Russian Federation, the Caribbean and Central America as well as Nigeria, Ivory Coast and Lebanon," said CEO Keith Berman. "While finalizing our US FDA testing has taken somewhat longer than we would have anticipated, we continue to have conversations with distributors around the world who have shown substantial interest in Genviro! and we will continue to cultivate international activity."
NOT YET AVAILABLE IN THE UNITED STATES OR PUERTO RICO
As previously reported, according to an August study from BBC Research and reported in a Korea Times news article, the global Covid-19 diagnostics market will be valued at $35 billion this year and will grow an average of 14.8 percent annually to reach $112 billion by 2027. Our newest distributor is currently quite active in the European marketplace and has been searching for additional COVID-19 related products.
"We believe Genviro! has qualities that are exactly what are required now to help deal with the pandemic," said Berman. "Genviro!, as we have repeatedly said, is a truly rapid, inexpensive, easy to use, non-invasive, point of care device for the near instantaneous detection (or not) of the Covid-19 virus. Genviro! is just what the doctor ordered but do not receive from other testing methods currently sold as "Rapid" when these other kits clearly are not. At :10 detection or less, Genviro! is truly rapid."
ABOUT DECISION DIAGNOSTICS CORP
Decision Diagnostics Corp. is the leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters. DECN's products are designed to operate efficiently and less expensively on certain glucose meters already in use by almost 7.5 million diabetics worldwide. With newly inspired technology, and diabetic test strips already in the final stages of development, DECN products compete on a worldwide scale with legacy manufacturers currently selling to 71+ percent of a $15+ billion at-home testing market.
The company's new GenViro!™ products designed to test for Covid-19 are not yet available in the United States and Puerto Rico and hopefully should soon be available in there. Emergency (EUA) Waivers are in process with the U.S. FDA with additional submissions to take place in the near future. The company has also signed an agreement with an FDA and CLIA certified US, Pennsylvania-based testing partner to complete testing per current FDA guidelines and continues to look forward to the FDA authorization of its EUAs.
The same data that will be produced by the company's Pennsylvania testing partner will be used for submissions to the EU and Russian Federation. The company will also use data provided by its Korean R&D and contract manufacturing partner as part of their extensive product development schedule as well as the recently reported and better than anticipated XPRIZE testing results that have been submitted for consideration as yet a third validation of the testing methodology.
Beyond the testing, the company has received word from several of its large GenUltimate! blood glucose product distributors who are seeking to have Genviro! added to their Amazon product offerings upon FDA approval. Currently, Amazon only offers special licenses for point of care and professional use medical products, which would preclude the individual use GenViro! Kit from being available on Amazon, even after FDA approval is secured. Two of the company's GenUltimate! product distributors have these "professional use" arrangements with Amazon, with a third distributor application in the works, although the company may determine that it is in its best interest to offer limited exclusivity to one distributor once FDA authorization is achieved.
The company continues to recruit and accept applications from prospective domestic and international distributors. Inquiries can be directed to: [email protected].
Forward-Looking Statements:
This release contains the company's forward-looking statements which are based on management's current expectations and assumptions as of December 9, 2020, regarding the company's business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results.
CONTACT INFORMATION:
Decision Diagnostics Corp.
[email protected]
www.genultimate.com
www.genultimatetbg.com
www.pharmatechdirect.com
ADDITIONAL CONTACT INFORMATION:
Decision Diagnostics Corp.
Shep Doniger 561-637-5750
[email protected]
SOURCE: Decision Diagnostics Corp.