Achiko's joint venture partner obtains a distribution certificate for AptameX, a novel diagnostic test for Covid-19 in Indonesia, and commences product registration
Achiko AG's joint venture partner PT Indonesia Farma Medis (IFM) obtains medical device distribution certificate
Achiko subsequently commenced product registration with its partners with a view to mid-year commercial product availability
Achiko to generate revenues on a 50% holding of the joint venture and a 10% licensing fee from gross sales
ZURICH, SWITZERLAND – 29 April 2021 – Achiko AG's (SWX:ACHI, ISIN CH0522213468) joint venture partner PT Indonesia Farma Medis (“IFM”) has been granted a medical device distribution certificate for Indonesia and commences product registration for AptameX.
This certificate will allow for the procurement, storage and distribution of the novel diagnostic test, AptameX (formerly Project Gumnuts) in Indonesia. It establishes the foundation for a subsequent product registration facilitating the production and sales of the product in Indonesia. Achiko has subsequently commenced product registration with its partners with a view to a mid-year commercial product availability.
To this end, Achiko and IFM are progressing forward with the establishment of the joint venture company PT Achiko Medika Indonesia for the production, distribution and marketing of AptameX (formerly Project Gumnuts) in Indonesia. Achiko will realise revenues on a 50% holding and earn a 10% licensing fee from gross sales.
Indonesia is a significant and important market, with over 270 million people spread over 16,000 islands. The joint venture meets local ownership and approval requirements, enabling Achiko's solution to provide security for millions of Indonesians' lives through facilitating access to several tests a month, each at an affordable price.
For shareholders, this translates to licensing and profit share incomes from the joint venture established with IFM. (*).