Indonesia approves Achiko’s rapid Covid-19 diagnostic test

AptameX, Achiko’s breakthrough DNA aptamer-based diagnostic test for Covid-19, received product and registration emergency use approval from the Ministry of Health in Indonesia, alongside its sister digital passporting service, Teman Sehat (“Health Buddy”). The consent will enable access to low-cost and accurate Covid-19 testing for over 270 million Indonesians.

Incorporated in 2020 with headquarters in Zurich and offices in Hong Kong, Jakarta, Seoul and Singapore, Achiko AG creates and develops new innovations in healthcare technology through its biotechnology division, AptameX, and its sister digital mobile health technology division, Teman Sehat. The Company has created a unique healthtech capability that provides user-friendly diagnostic testing integrated with a digital passport solution for the management of Covid-19.

AptameX uses proprietary, novel chemistry matching the speed of lateral flow rapid tests while improving on sensitivity. At a significantly lower price point than other tests, it also offers a better user experience. Those that test positive are alerted promptly through the Teman Sehat digital passporting service and asked to follow local guidelines on isolation and quarantine. Its affordability, scalability and superior performance make it an ideal tool in Indonesia’s fight against Covid-19. The AptameX technology is licensed from with Achiko having exclusive commercialisation rights.

The breakthrough DNA aptamer-based diagnostic test for Covid-19 has received product and registration emergency use approval from the Ministry of Health in Indonesia, alongside its sister digital passporting service, Teman Sehat (“Health Buddy”). The approval opens the door to the rapid scale-up of production and sale of Achiko’s AptameX test kits in Indonesia. Available at an affordable price, AptameX provides over 270 million Indonesian residents with access to accurate diagnostic testing for Covid-19, enabling the country to control and contain the pandemic more effectively. Indonesia passed 50,000 daily Covid-19 cases in mid-July, amid the spread of the Delta variant in Southeast Asia. Following the Ministry of Health’s approval for AptameX, Achiko is looking forward to securing a CE mark and introducing AptameX and Teman Sehat swiftly in other countries and regions.

“We are proud and excited to receive the official approval for our breakthrough test kit AptameX. It is an immense achievement for us to be able to market it with Indofarma,” said Steven Goh, CEO of Achiko. The combination of AptameX and Teman SehatTM provides communities and governments with an affordable, easy-to-use test and a digital passporting service, empowering them in their fight against Covid-19 and all its variants.”

Partnership with Idofarma TBK
Achiko’s 50%-subsidiary, PT Achiko Medika Indonesia, and PT Indofarma TBK (“Indofarma) have inked an agreement to manufacture AptameX and have received product registration approval in Indonesia. Achiko will provide the technology and all materials for diagnostic kits while Indofarma will carry out the production and product registration processes.

Strategic investors join Achiko
Achiko has also raised a total amount of CHF 3.45 million through share placement at an average price of CHF 0.192 per share to a leading Swiss venture capital group, OCS International Commodities & Investments FZCO and other private investors. The funds are to be used as working capital and production funds as well as for the redemption of the Yorkville convertible note facility from 25 November 2020.

(Press release/RAN)