Mico BioMed Supplies COVID-19 PCR Diagnostic Kits to India

[Asia Economy Reporter Eunmo Koo] MikobioMed, a company specializing in in vitro diagnostic devices, announced on the 20th that it has secured an order for PCR diagnostic kits worth $3.7 million in India.

MikobioMed completed product validation at Kings University Institute in India on the 8th and will supply PCR diagnostic kits worth $3.7 million to two states in the first phase. The scope is expected to expand to all states in India, leading to additional orders. India has a cumulative total of 7.55 million confirmed cases of COVID-19, with the number of confirmed cases continuing to rise recently.

A MikobioMed official stated, "This order is very significant as it is a large-scale order for universal diagnostic kits in addition to sales of our main products, dedicated equipment and dedicated diagnostic kits," adding, "Product diversification is being achieved through the expansion of sales of high-margin universal diagnostic kits as well as main products, and stable sales growth is expected in the future."

Additionally, MikobioMed is considering India as a strategic hub country in Southeast Asia and East Asia and is promoting the establishment of a local joint venture company (JVC) that can supply dedicated equipment and reagents.

MikobioMed will enter the KOSDAQ market on the 22nd after completing its initial public offering (IPO) schedule.