MEDFORD, N.Y., March 07, 2019 (GLOBE NEWSWIRE) -- Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leader in point-of-care diagnostic tests for infectious diseases, today announced that it will be awarded a conditional Long Term Arrangement (LTA) from UNICEF for purchases of the company’s DPP® Zika/Chikungunya/Dengue System. The UNICEF LTA, which is valid through December 31, 2020, includes a firm purchase commitment of $1.5 million and possible additional purchases of up to $2.0 million, for a total amount of up to $3.5 million. All of the purchases are subject to Chembio meeting the following conditions: receipt of CE mark certification, completion of clinical and analytical performance evaluation, and a successful quality management system (QMS) inspection.
“We are delighted that our multiplex test has been chosen by UNICEF and we look forward to supplying products under this agreement,” said John Sperzel, Chembio’s Chief Executive Officer. “Our rapid multiplex test allows separate detection of IgM and IgG antibodies for these three viruses and identification of co-infected patients, with a single drop of blood from the fingertip. We believe this is a clear advantage compared to other testing options, such as laboratory tests which are time consuming, or molecular tests which have a short window of detection.”
Chembio’s DPP® Zika/Chikungunya/Dengue System, which includes the DPP® Zika/Chikungunya/Dengue IgM/IgG multiplex test and DPP® Micro Reader, provides results in 15 minutes from only 10μl of fingertip blood. The DPP® Micro Reader is hand-held, easy to use, and can reduce the risk of human error during test interpretation and data capture.
About Chembio Diagnostics
Chembio Diagnostics, Inc. is a leading point-of-care diagnostics company focused on detecting and diagnosing infectious diseases. The company’s patented DPP® technology platform, which uses a small drop of blood from the fingertip, provides high-quality, cost-effective results in approximately 15 minutes. Coupled with Chembio’s extensive scientific expertise, its novel DPP® technology offers broad market applications beyond infectious disease, a number of which are under active development with collaboration partners. Chembio’s products are sold globally, directly and through distributors, to hospitals and clinics, physician offices, clinical laboratories, public health organizations, government agencies, and consumers.
Headquartered in Medford, NY, Chembio is registered with the U.S. Food and Drug Administration (FDA) as well as the U.S. Department of Agriculture (USDA), and is certified for the global market under the International Standards Organization (ISO) directive 13485. Learn more at www.chembio.com.
Statements contained in the first two paragraphs of this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements, which are estimates only, reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Chembio's ability to successfully complete the conditions to the described purchases of the DPP® Zika/Chikungunya/Dengue System, including receipt of CE mark certification, completion of clinical and analytical performance evaluation, and a successful QMS inspection. Chembio undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Chembio's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
Lynn Pieper Lewis