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Sorrento Mexico executes second contract for sale of 10 million Covistix tests for Mexico market

San Diego
Wednesday, December 29, 2021, 10:00 Hrs  [IST]

Sorrento Therapeutics, Inc. announced its subsidiary, Sorrento Therapeutics Mexico (Sorrento Mexico), has executed a second contract with a large distributor for the sale and distribution of up to 10 million Covistix tests for the Mexican market. Sorrento previously announced that Sorrento Mexico had signed a contract with a leading local distributor for up to 5 million Covistix tests in Mexico, bringing the total number of tests to 15 million to date.

Since its commercial launch in July, the Covistix Covid-19 virus rapid antigen detection test has been well received for its ease of use and rapid generation of results. In addition, independent clinical testing by a leading Mexican national institute demonstrated a very high sensitivity of around 90% when tested in an all-comers population, including asymptomatic Covid-19 virus carriers, while the other commercial rapid Covid-19 virus antigen tests evaluated failed to achieve sensitivity above 62%. The rapid Covistix test provides a much needed tool to mass screen the population for sports events, school attendance and all other family and social gatherings as well as for businesses.

Sorrento is a clinical and commercial stage biopharmaceutical company developing new therapies to treat cancer, pain (non-opioid treatments), autoimmune disease and Covid-19.

 

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