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VRAX Positive Sentiment Score: 75/100

Virax Biolabs Introduces Human Papillomavirus (“HPV”) Test Kit Kit Available Now for Distribution LONDON

Key Takeaway: Virax Biolabs has launched a new Human Papillomavirus (HPV) test kit designed to cover 18 different genotypes, including the high-risk type 53. The company plans to begin distribution in the first quarter of 2023 to markets that accept the CE mark, particularly in the European Union. CEO James Foster expressed optimism about capturing market share, citing advantages such as shorter processing times and lower costs compared to existing HPV tests. HPV remains a significant public health concern, responsible for a high number of cervical cancer cases globally.

Market Sentiment Analysis

POSITIVE FACTORS

  • Launch of a new HPV test kit that covers 18 different genotypes.
  • The test is expected to have shorter processing times and lower costs than existing options.
  • Virax anticipates shipping around 200,000 tests per week, indicating strong production capacity.

Full Press Release Details

Virax Biolabs Introduces Human Papillomavirus ( HPV ) Test Kit
Kit Available Now for Distribution
LONDON, Jan. 4, 2023 /PRNewswire/ -- Virax Biolabs ( Virax or the Company ) (Nasdaq: VRAX), an innovative biotechnology company focused on the prevention, detection, and diagnosis of viral diseases, announced today the distribution of HPV test kits with shipments anticipated in Q1 of 2023 to markets accepting the CE mark, such as the European Union. The test kit covers 18 different genotypes of HPV, including type 53, which is higher risk and becoming increasingly prevalent. The specialized diagnostic kits can be found by contacting the Company's sales representatives.
Virax's Chairman of the Board and Chief Executive Officer, James Foster commented we are excited to expand our ViraxClear line of tests into an additional significant area of concern. These tests will cover more genotypes, have shorter processing times and lower costs than the currently available HPV tests in Europe. As we are able to supply around 200,000 of these tests per week, we have a significant opportunity to capture some market share.
HPV is one of the most prevalent sexually transmitted infections in the developed world. HPV is also the primary cause of cervical cancer in women with around 33,000 cases and 15,000 deaths annually in the EU, according to the European Centre for Disease Prevention and Control. Globally, HPV is estimated to cause over 600,000 cases of cervical cancer annually by the World Health Organization.
About Virax Biolabs Group Limited
Founded in 2013, Virax Biolabs is an Innovative Biotechnology company focused on the diagnosis of and the detection of immune responses to viral diseases.
In addition to distributing an array of viral test kits in unique geographies, Virax Biolabs Group Limited is currently developing a proprietary T-Cell Test technology with the intention of providing an immunology profiling platform that assesses each individual's immune risk profile against major global viral threats. T-Cell testing can be particularly effective in the management and therapeutics of COVID-19 as well as other threats including Monkeypox, Hepatitis B, Malaria, Herpes and Human Papillomavirus. For more information, please visit www.viraxbiolabs.com.
Safe Harbor Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as may, should, expects, anticipates, contemplates, estimates, believes, plans, projected, predicts, potential, or hopes or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability
to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
Virax Biolabs Group Limited
Phone: +44 020 7788 7414
Investor Relations Contact:
SOURCE Virax Biolabs

Frequently Asked Questions

What does the new HPV test kit from Virax Biolabs cover?

The HPV test kit covers 18 different genotypes, including high-risk type 53.

When will the HPV test kits be available for distribution?

The distribution of HPV test kits is anticipated in Q1 of 2023.

How many HPV tests can Virax supply per week?

Virax can supply approximately 200,000 HPV tests each week.

Why is HPV testing important?

HPV is the leading cause of cervical cancer in women, with significant prevalence.

Where can I find Virax's HPV test kits?

The specialized HPV test kits can be obtained through the Company's sales representatives.

Last updated: Jan 4, 2023