- Achiko AG’s Joint Venture Partner PT Indonesia Farma Medis (IFM) Obtains Medical Device Distribution Certificate
- Achiko Subsequently Commenced Product Registration with its Partners with a View to Mid-Year Commercial Product Availability
- Achiko to Generate Revenues on a 50% Holding of the Joint Venture and a 10% Licensing Fee from Gross Sales
ZURICH, Switzerland, April 29, 2021 (GLOBE NEWSWIRE) -- Achiko AG’s (SWX:ACHI, ISIN CH0522213468) joint venture partner PT Indonesia Farma Medis (“IFM”) has been granted a medical device distribution certificate for Indonesia and commences product registration for AptameX.
This certificate will allow for the procurement, storage and distribution of the novel diagnostic test, AptameX (formerly Project Gumnuts) in Indonesia. It establishes the foundation for a subsequent product registration facilitating the production and sales of the product in Indonesia. Achiko has subsequently commenced product registration with its partners with a view to a mid-year commercial product availability.
To this end, Achiko and IFM are progressing forward with the establishment of the joint venture company PT Achiko Medika Indonesia for the production, distribution and marketing of AptameX (formerly Project Gumnuts) in Indonesia. Achiko will realize revenues on a 50% holding and earn a 10% licensing fee from gross sales.
Indonesia is a significant and important market, with over 270 million people spread over 16,000 islands. The joint venture meets local ownership and approval requirements, enabling Achiko’s solution to provide security for millions of Indonesians’ lives through facilitating access to several tests a month, each at an affordable price.
For shareholders, this translates to licensing and profit share incomes from the joint venture established with IFM.
ABOUT ACHIKO AG
Achiko creates and develops new innovations in healthcare technology through its biotechnology division, AptameX, and its sister digital mobile health technology division, Teman Sehat. The Company has created a unique telehealth capability that provides user-friendly diagnostic testing integrated with a digital passport solution for the management of Covid-19.
AptameX comprises of DNA aptamer-based technology that is cost-effective, chemically synthesized and widely applicable to the evolving diagnostic field of healthcare. Together with the digital mobile health app Teman Sehat, Achiko is developing potential technologies that seek to deliver rapid, affordable diagnostic testing for a range of pathogenic diseases and therapeutic indications. The AptameX technology is licensed from Regenacellx.sl and Achiko has exclusive commercialization rights.
Headquartered in Zurich, Achiko has offices in Hong Kong, Jakarta, Seoul and Singapore.
Further information can be found at www.achiko.com.
ABOUT PT INDONESIA FARMA MEDIS
PT Indonesia Farma Medis (“IFM”) is a medical device and pharmaceutical distribution company with a large network of relationships and distribution channels that includes hospitals, pharmacies and clinics across the main islands of Indonesia.
IFM provides supply chain solutions for distributing medical products and helps companies seeking market entry navigate the complexities of the Indonesian market. For more information, visit https://indofarmamedis.com
Media contacts:
ACHIKO AG
Investor Relations
E: ir@achiko.com
Switzerland
Marcus Balogh
Farner Consulting Ltd.
E: achiko@farner.ch
T: +41 44 266 67 67
Germany and Austria
Axel Mühlhaus / Dr Sönke Knop
edicto GmbH
E: achiko@edicto.de
T: +49 69 90 55 05-51
DISCLAIMER
This communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.