- XPhyto Therapeutics Corp. plans to commercialize its rapid and portable PCR Kit this year to provide point-of-care diagnostics
- The company is confident about the successful validation of the PCR kit for the European commercial (CE-IVD) approval in Q1 2021
- Hugh Rogers, CEO and Director of XPhyto, revealed in the latest news release that the company will make investments and development of psychedelic treatments
XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) is a bioscience accelerator involved in the development of new pharmaceuticals, diagnostic products, and psychedelic medicine.
As a part of its business strategy for the year 2021, the company plans to commercialize its rapid PCR kit, “the one internationally recognized standard for testing Covid-19.” This announcement was made on January 18, 2021, when the company outlined its business strategy for 2021.
XPhyto’s rapid PCR diagnostic kit, secured through a strategic German alliance with 3a-diagnostics GmbH (“3a”), is a low-cost disposable kit with a turnaround time of fewer than 30 minutes. XPhyto is positive about the successful validation of the PCR kit for the European commercial (CE-IVD) approval in Q1 2021 (https://ibn.fm/cJpDM).
Why is a Rapid Testing Kit critical in controlling the COVID pandemic?
With vaccines rolling out sporadically, a rapid definitive kit could play a pivotal role in 2021 to bring the pandemic under control. PCR kits are reliable and accurate tests for Covid-19 diagnosis.
XPhyto’s quick-turnaround time makes this PCR kit well-suited for mobile and pop-up labs. It is very important as the main hurdle for covid-19 testing is the long turnaround time that ranges from 4 hours to a few weeks.
This innovation is expected to be welcomed by the government and the healthcare providers who struggle with the bottlenecks of difficult diagnostic procedures (https://ibn.fm/Irm4I).
In the same news release, Hugh Rogers, CEO and Director of XPhyto, stated that the company is geared to make continued investments and development in the arena of psychedelic medicine.
As per the statistics from the US Center for Disease Control (“CDC”), 11% of Americans have contemplated suicide since the Covid-19 outbreak. Millions of Americans and Europeans are suffering from anxiety and mental illnesses, especially amidst the coronavirus outbreak. This phenomenon has expedited the development of psychedelic compounds for the formulation of mood-improving therapeutic pharmaceutical drugs (https://ibn.fm/Uk8aW).
Professor Löbenberg, a reputed scientist and director of XPhyto Therapeutics Corp holds Health Canada licenses for research and analytical testing of a wide range of psychedelic compounds, including molecules like LSD, psilocybin, and MDMA.
In addition to Dr. Löbenberg’s drug development experience, XPhyto’s German subsidiary –Vektor Pharma TF GmbH – has globally recognized drug delivery technology and manufacturing capabilities. Prof. Dr. Thomas Beckert, managing director of Vektor Pharma TF GmbH stated that the year 2021 will be pivotal for Vektor as the company will establish itself for commercial manufacturing, pipeline development, and drug formulations for critical mental health conditions (https://ibn.fm/hhgxP).
The market intelligence firm, Data Bridge Market Research, estimated that the psychedelic pharma market could grow to almost US $7bn by 2027 (https://ibn.fm/YF7Md). Another noted Canadian investment bank, Canaccord Genuity, estimates that the budding psychedelic industry will go on to be worth US $100bn. Companies like XPhyto Therapeutics enjoy an early-mover advantage that will give an edge over business opportunities among competitors within this science-driven psychedelic era.
For a full report on XPhyto’s research and innovation for Psychedelic drugs, read the article https://ibn.fm/4WlM0.
About XPhyto Therapeutics Corp.
XPhyto Therapeutics is a bioscience accelerator focused on next-generation drug delivery, diagnostic and new active pharmaceutical ingredient investment opportunities including precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral-health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. XPhyto has research and development operations in North America and Europe, with an operational focus in Germany, and the company is currently focused on regulatory approval and commercialization of medical products for European markets. For more information about this company, please visit www.XPhyto.com.
NOTE TO INVESTORS: The latest news and updates relating to XPHYF are available in the company’s newsroom at https://ibn.fm/XPHYF
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