Gemina Labs enters into licence and manufacturing agreements
By AccessWireNews People in Process agreement Gemina Laboratories International Point of Care IPOC licence manufacturing rapid antigen test
Gemina Laboratories of Vancouver has entered into agreement with International Point of Care (IPOC), for the manufacturing of its Legio XTM COVID-19 rapid antigen test. The agreements signed include both a manufacturing and supply agreement and a license agreement setting out the terms upon which IPOC will manufacture the Legio XTM Test in Canada to satisfy demand from distributors in CE Mark eligible jurisdictions.
Toronto-based International Point of Care Inc. conducts its business within a 15,000 sq. ft. GMP and ISO-13485 compliant manufacturing facility complete with environmental chambers, antibody, and recombinant protein labs.
The agreements build on the partnership between IPOC and Gemina that commenced in 2021. To date, IPOC has provided contract services to Gemina throughout the transfer to manufacturing phase of the Legio XTM Test’s development, which were necessary precursors to the granting of the Test’s CE Mark and its commercial product launch. In a strong show of confidence in the Legio XTM Test, IPOC has offered to defer $500,000 of invoicing costs, covering the final stages of product validation.
The $500,000 deferral may be repaid to IPOC from Gemina’s share of product revenues. Alternatively, IPOC has the ability to convert any outstanding portion of the $500,000 into common shares of Gemina at a conversion price of $0.60 per share.
“A huge amount of scientific and product development work has occurred to take us to where we are today,” commented Brian Firth, CEO of Gemina Laboratories. “The partnership has been a great success and as a result we now find ourselves in a position to bring a high performing, price competitive product to the international market.
“IPOC’s deferral of $500,000 is quite unique in my experience and is a sign of IPOC’s belief in the Legio XTM Test and the long-term future of Gemina and our chemistry platform. With today’s agreements now in place, our focus shifts to achieving our initial product launch in the near future.”
Garth Styba, president of IPOC, stated “It’s absolutely wonderful to be on the brink of scale manufacturing with Gemina.
“The combined IPOC and Gemina teams have achieved something truly impressive — converting a new chemistry for diagnostics into a regulated, marketable product in just one year. We think the Gemina technology is a game-changer in our industry — it’s been really exciting to have been involved with this team and technology from the beginning.”
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