It is expected that the partnership will enable a much more efficient supply-chain arrangement for OSANG tests, not just for SG Blocks customers but also as a regional distribution hub for pre-existing OSANG customers, including FEMA and large lab and hospital networks, significantly reducing the costs and delivery times
SG Blocks, OSANG Healthcare announce managed supply agreement and purchase order to distribute Covid-19 rapid test. (Credit: Daniel Roberts from Pixabay)
SG Blocks, Inc. (Nasdaq: SGBX) (“SG Blocks” or the “Company”), a leader in modular container-based structures and innovator in portable, clinical-grade laboratories for high-capacity testing, and OSANG Healthcare Co., Ltd. (“OSANG” or “OHC”), a South Korea based global manufacturer of medical-grade diagnostic tests and equipment, announced today a Managed Supply Agreement building on their distributorship agreement executed earlier this year, to distribute OHC’s “GeneFinder® COVID-19 Plus RealAmp Kit” test in the United States and Canada.
“We are thrilled to advance our partnership with OSANG, utilizing our modular construction expertise to create fully functional turnkey lab-testing facilities quickly and efficiently, which should allow us to broaden distribution of OSANG’s advanced tests to help address this global pandemic,” stated Paul Galvin, Chief Executive Officer of SG Blocks.
“OSANG’s FDA approved SARS-CoV-2 test has been used by leading hospitals and other emergency service providers due to its ease-of-use, accuracy and ability to work on low-cost point-of-care analyzers. We believe that our units provide safe, isolated SARS-CoV-2 testing and ‘lab-in-a-box’ solutions for these health care providers, which is critical to free up hospitals to focus on providing non-pandemic-related health care services again.”
It is expected that the partnership will enable a much more efficient supply-chain arrangement for OSANG tests, not just for SG Blocks customers but also as a regional distribution hub for pre-existing OSANG customers, including FEMA and large lab and hospital networks, significantly reducing the costs and delivery times.
“We are delighted with the SGB partnership and see this as a prelude to yet closer collaboration as we explore the expansion of operations and localized manufacturing in the USA,” commented Dong-Hyun Lee, Chairman & Chief Executive Officer of OSANG Healthcare Co., Ltd. “This should greatly improve the speed and efficiency by which we roll-out exciting new products optimized for these markets – not least in the short-term our combination Covid-19/Influenza A&B Test which the US Government has deemed of critical importance as we move into the winter season.”
OHC’s test is designed to detect SARS-CoV-2 (Severe Acute Respiratory Syndrome-Coronavirus 2), the virus that causes COVID-19, through a gene-based reverse transcription reaction and real-time polymerase chain reaction (PCR) testing process that can provide 96 tests results in just over two hours, making it ideally suited to emergency, pop-up and point of care situations. SG Blocks will have sales, marketing and distribution rights to OHC’s product in the United States and Canada, and plans to leverage its customer base and relationships with federal government and state-level customers in particular who are only beginning to roll-out widespread SARS-CoV-2 testing centers.
Source: Company Press Release