ASX-listed Dotz Nano (ASX:DTZ) continues to build its presence in Southeast Asia, securing a Thailand distribution partner for its SARS-CoV-2 virus detection technology.
The three-year distribution agreement grants World Siam Company Limited (WSG) the right to promote, sell and distribute Dotz’s nasopharyngeal swab and saliva-based Test Kits in Thailand with conditional exclusivity, subject to minimum first-year purchase orders of US$250,000.
WSG has more than two decades’ experience distributing leading medical and diagnostic brands in Thailand and has established relationships with over 150 organisations across the country.
The latest distribution partner follows last week’s distribution agreement with ScienceVision in Malaysia.
The Dotz Test Kits enable simultaneous testing of up to hundreds of virus samples with test results available on-site within 15-17 minutes, evidenced by the reagents changing colour in the test tube. Dotz has demonstrated the accuracy of its SARS-CoV-2 virus detection technology in a successful blind clinical trial on 73 subjects in the United States, using nasopharyngeal swab samples. The clinical trial showed Dotz’s Test Kits were 97% accurate in identifying patients with COVID-19 with 100% specificity – the ability to detect COVID without being triggered by other viruses.
Commenting on the new agreement, Dotz CEO Gideon Shmuel said, “Our distribution partners enable us to cost-effectively access and service new markets and customers. Local expertise is particularly important in the diagnostic domain, where trust, relationships and reputation are critical. WSG is the ideal partner for us in Thailand, with extensive industry experience and long-established relationships across the public and private sector. Our latest agreement further builds our presence in Southeast Asia – a region where we see significant growth opportunities due to the genuine need for accurate, timely and cost-effective testing methods to support the tourism economy.”
Dotz has obtained a CE Mark for both its nasopharyngeal swab and saliva-based Dotz Test Kits, which clears the product for sale in the European Union, and is awaiting US FDA approval.
The distribution agreement with WSG automatically renews for additional one-year periods on a non-exclusive basis, unless terminated by either party.
Dotz shares closed up 3.7% to 42 cents.