Business
Cosmos Health Secures Exclusivity Agreement with Virax Biolabs to Distribute mpox PCR Kits across the GCC, including the UAE, Saudi Arabia, Bahrain, Kuwait, Oman, and Qatar
CHICAGO, IL / ACCESSWIRE / September 16, 2024 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated
About this update from Cosmos Health Inc.
[{"type":"text","content":"CHICAGO, IL / ACCESSWIRE / September 16, 2024 / Cosmos Health Inc. (\"Cosmos Health\" or the \"Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that it has entered into an extension of its existing exclusive distribution agreement with Virax Biolabs (NASDAQ: VRAX) to commercialize mpox virus real-time PCR detection kits in countries within the Gulf Cooperation Council (\"GCC\"). It had previously signed an agreement for exclusive distribution in Greece and Cyprus, as well as for non-exclusive distribution throughout Europe.Under the agreement, Cosmos Health is now also authorized to import, sell, and distribute Virax-branded mpox Virus Nucleic Acid Detection Kits throughout the GCC, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.The RT-PCR mpox virus detection kits are CE-marked for sale in Europe and authorized by the UK's Medicines and Healthcare products Regulatory Agency (MHRA). These tests offer a sensitivity of 96.7% and a specificity of 93.72%, providing results in under 70 minutes.On August 14, 2024, Dr. Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization (WHO), declared the rise of mpox cases in the Democratic Republic of the Congo and other African nations a public health emergency of international concern under the International Health Regulations. Since then, mpox has spread beyond Africa, with confirmed cases in Europe and Asia, signaling growing global concern.Greg Siokas, CEO of Cosmos Health, stated: \" We are excited to strengthen our partnership with Virax to help curb the spread of mpox. With strong demand for detection kits, we are well-positioned to support governments and public health authorities in Europe and the Gulf countries by enhancing preparedness, planning, and awareness, ensuring rapid detection and an effective response.\"James Foster, CEO of Virax Biolabs, stated: \"We are thrilled to deepen our partnership with Cosmos. This exclusive agreement extends our geographic reach, equipping more healthcare professionals with vital tools to diagnose and manage the spread of the mpox virus. We look forward to col...