Seegene's Italy subsidiary secures public procurement for 7.15 million COVID-19 diagnostic tests, the largest tender in history

Seegene's Italian subsidiary to supply some 7.15 million COVID-19 tests to 17 regions there

S. Korean biotechnology firm to expand its influence in Italy's PCR diagnostic industry

SEOUL,South Korea,April 15,2021 -- Seegene Inc. (KQ 096530),a leading molecular diagnostics firm said its Italian subsidiary,the Arrow Diagnostics Srl,has secured the public procurement worth over EUR 89.3 million,the largest volume of tender in the history of its Italian branch since 2014.

Under the tender agreement,the Arrow Diagnostics will supply some 7.15 million COVID-19 diagnostic tests along with extraction reagents to the Extraordinary Commissioner for COVID-19 Emergency,or 'il commissario straordinario per l'emergenza COVID-19,' under the Italian Ministry of Defense. The COVID-19 diagnostic tests will be distributed to 17 regions including Lombardy,Tuscany,Veneto and Liguria.

Seegene's COVID-19 diagnostic test,the AllplexTM SARS-CoV-2 Assay is a unique multiplex real-time PCR assay capable of detecting a total of five target genes including four coronavirus genes (E gene,RdRP gene,N gene and S gene) and an exogenous control (entire whole process control) in a single reaction,allowing highly accurate results and maximize throughput for high volume testing. The diagnostic test has acquired CE-IVD mark in June of 2020.

Seegene official added that with its technological advancement of targeting multiple genes in a single reaction has an upper hand in accurately and comprehensively detecting coronavirus even with the recent uptick in its virus variants.

Also available with the COVID-19 diagnostic assay is extraction-free application,which allows labs without extraction equipment or reagent shortage to test samples for the coronavirus in an even shorter turnaround time (TAT). The official added the extraction-free application of the assay will help expedite the control of pandemic.

The COVID-19 diagnostic tests as well as its extraction reagents have already been supplied to Europe's third largest economy—and is in the process of being allocated to regions nationwide since the start of April.

An official from Seegene said that the company ultimately hopes to put an end to the deadly pandemic by consistently supplying COVID-19 diagnostic tests to countries around the world,and added that it will continue to fulfill the duty as a leading global diagnostics company by closely monitoring and studying the development of the pandemic.