VANCOUVER, British Columbia, Sept. 14, 2020 (GLOBE NEWSWIRE) -- Victory Square Health Inc. (“VS Health” or the "Company") – a portfolio company of Victory Square Technologies Inc. ("Victory Square") (CSE:VST) (OTC:VSQTF) (FWB:6F6) announced today that it was granted EU declaration of conformity which indicates that a product complies with all the requirements of European IVDD (in-vitro diagnostic device) legislation. The CE designation allows the company to commence marketing, sales and distribution for its Safetest ELISA Covid-19 assay for detecting the antibodies IgG and IgM against SARS-CoV-2, until May 2022.
VS Health’s Safetest Covid-19 IgG /IgM has demonstrated to the U.S. FDA & Brazilian authorities 93.3% sensitivity and 98.7% specificity. As of September 10, 2020 the EU & EEA saw 2,476,000 Covid-19 cases and 183,479 deaths from Covid-19.
The Company is focused on rapid production expansion combined with navigating key distribution channels and sales agreements in the European Union countries and beyond. The Company is actively pursuing additional manufacturing capabilities to meet the demand with approvals from countries in the EU, South America, the USA and beyond.
"Our ongoing mission is to help the global community curb the spread of Covid-19 by delivering the best tests in the market," said Felipe Peixoto, CEO of VS Health. “This approval from the European Union now allows us to expand our sales and distribution reach of our Safetest suite of tests throughout the EU,” said Peixoto. Peixoto continued “The Company will immediately look for manufacturing capabilities in the EU to meet the strong demand.”
The antibody data provided by VS Health’s Safetest Covid-19 IgM/IgG Elisa test kit covers both immunoglobulins type M (IgM) and G (IgG). When IgM antibodies are present, they can indicate that a patient has an active or recent infection with SARS-CoV-2. When IgG antibodies are present, it indicates past infection and exposure. The company has successfully completed the CE marking which indicates that a product has been assessed by the manufacturer and deemed to meet EU safety, health and environmental protection requirements. It is required for products manufactured anywhere in the world which are then marketed in the EU.
According to EU recommendations, timely and accurate Covid-19 laboratory testing is an essential part of the management of Covid-19 for slowing down the pandemic, supporting decisions on infection control strategies and patient management at healthcare facilities, and detecting asymptomatic cases that could spread the virus further if not isolated.
“Based on our outreach and discussions, the demand for this critical test from distributors around the world is very high,” said VS Health’s CEO Peixoto. Peixoto continued “VS Health is poised to meet the growing need from countries focused on detection and reducing the potential curve with the second wave this Fall. We are confident that our exclusive suite and capabilities of our products will meet the increasing EU demand during this Pandemic,” said Peixoto
Elisa Safetest Covid-19 antibody test results are crucial for developing a clear understanding of the immunity thresholds and characteristics of infected individuals. High sensitivity antibody tests provide detailed profiles of populations and individuals. This information helps to accelerate the development of vaccines and provides crucial insight into natural immunity and potential thresholds if they exist. This information will get people back to work, school and normalcy faster and safer.
“We are poised to meet the extensive distribution demands these approvals provide us in the EU, Brazil, the USA and other countries as we rapidly ramp up our key relationships and supply channels,” said Shafin Diamond Tejani, CEO of Victory Square. “The exclusive test has demonstrated excellent reliability through valid data, and we are ready and able to meet the increasing demand globally for our quick, cost-effective and reliable Safetest products to contribute to the global fight against the pandemic.”
The Company is currently engaging various industries including but not limited to retail, hospitality, pharmaceutical, correctional facilities, casinos, sports, border services, education, transportation, military, Government and more.
VS Health was founded in 2016 to accelerate the development of personalized medicine and technology solutions including diagnostic tests to support patient’s care and improve health outcomes. Its first product, the Leishmaniasis Rapid Test, was developed in partnership with the UFMG, Federal University of Minas Gerais. Safetest took advantage of its expertise in the subject to develop other antibody-based tests and a robust R&D pipelines of diagnostic kits for Hansen’s Disease, Brucellosis, HTLV and Blood samples screening tests.
EU & EEA Member countries with combined population of 446,824,564:
Disclaimer:
The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time
Check out VictorySquare.com and sign up to VST's official newsletter at www.VictorySquare.com/newsletter.
On behalf of the board,
Shafin Diamond Tejani
Chief Executive Officer
Victory Square Technologies
Check out VictorySquare.com and sign up to VST's official newsletter at www.VictorySquare.com/newsletter.
For further information about the Company, please contact:
Investor Relations Contact – Alex Tzilios
Email: alexandros@victorysquare.com
Telephone: 778-867-0482
Media Relations Contact – Howard Blank, Director
Email: howard@victorysquare.com
Telephone: 604-928-6066
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.
VST's sweet spot is the cutting-edge tech that's shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using AI, VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.
What we do differently for startups
VST isn't just another investor. With real skin in the game, we're committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you'll scale and be ready to monetize.
What we do differently for investors
VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF).
For investors, we offer early-stage access to the next unicorns before they're unicorns.
Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we're able to provide strong and stable returns while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.
Forward Looking Statement
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries, including Victory Square Health Inc., and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.