Oct 5, 2022 in Diagnostics, Press Releases
XPhyto Signs Letter of Intent for US Manufacturing and Strategic Business Opportunities
Vancouver, Canada, and Uttenweiler, Germany (October 4, 2022) – XPhyto Therapeutics Corp. (CSE:XPHY / OTC:XPHYF / FSE:4XT) (“XPhyto” or the “Company”) is pleased to report that it has signed a non-binding Letter of Intent (“LOI”) to identify and assess potential business synergies for manufacturing, import/export, distribution and product development with a US-based thin film manufacturing firm (the “Firm”).
The Firm operates a state-of-the art US-based FDA-certified pharma production facility managed by a seasoned leadership team with over 50 years of experience. With an expert R&D team and a licenced manufacturing facility with a 50 million+ annual thin film capacity, the Firm is an ideal potential partner to produce XPhyto’s oral dissolvable (“ODF”) biosensor products. They are capable of thin film medical product formulation, mixing, coating, and packaging. In addition, the Firm has a portfolio of OTC and FDA-approved products currently for sale in the US market.
The LOI sets out a number of short-term milestones to determine the extent and feasibility of potential business synergies between XPhyto and the Firm which include: manufacturing compatibility for XPhyto’s ODF biosensor products; potential EU-GMP certification of the US-based facility; reciprocal import/export opportunities between the US and Europe; and product R&D collaborations.
XPhyto’s proprietary ODF biosensor development portfolio includes multiple oral health products, including for the detection of stomatitis, periodontitis, and periimplantitis. The Company’s first ODF biosensor screening product is for general oral inflammation. Positive detection of the causative inflammatory agents results in an enzymatic release of a bitter compound in the user’s mouth, with no medical training, analytical equipment or power supply required. The oral inflammation biosensor is designed to function as a simple, low-cost, and self-administered screening test to identify users for follow-up medical testing. The Company’s oral dissolvable inflammation screening test was EU registered in late 2021 and is currently licensed for marketing and sale in Europe.
XPhyto’s pipeline of biosensor screening products for inflammatory, bacterial and viral infectious diseases includes stomatitis, periimplantitis, periodontitis, group A strep, influenza A, and covid-19. This suite of biosensor products positions the Company within the global biosensor and oral health markets which are expected to reach US $43.6 billion and US $44.5 billion respectively by 2028 according to Global Market Insights.