DGAP-News: SphingoTec GmbH / Key word(s): Agreement/Development of Sales
SphingoTec and Rivaara Labs Close Exclusive Distribution Agreement for Point of Care Diagnostics in India

17.03.2022 / 10:00
The issuer is solely responsible for the content of this announcement.


  • The collaboration focuses on SphingoTec's near patient diagnostic solution for critical care settings.
  • Rivaara gains exclusive rights to market and distribute the Nexus IB10 platform and its rapid tests for innovative biomarkers and commonly used parameters in the Indian subcontinent.
  • The Nexus IB10 technology is a "hand-held laboratory" providing fast and reliable diagnostics to support the management of critically ill patients.

Hennigsdorf, Germany and Mumbai, India, March 17, 2022 - The diagnostic company SphingoTec GmbH (SphingoTec) and Rivaara Labs Pvt Ltd. (Rivaara) today announced that they have entered into a multi-year distribution agreement for the commercialization of SphingoTec's point of care diagnostic solutions in the Indian subcontinent. The Nexus IB10 analyzer and its portfolio of rapid tests allow convenient assessment of biomarkers relevant in critical care conditions such as sepsis, acute kidney injury, cardiogenic shock, acute heart failure, and myocardial infarction.

Under the terms of the agreement, Rivaara will have the exclusive right to market and distribute SphingoTec's point of care tests for innovative biomarkers in the Indian subcontinent. This includes the biomarkers proenkephalin (penKid) for the assessment of kidney function (1), bioactive adrenomedullin (bio-ADM) for the assessment of endothelial function (2), and dipeptidyl peptidase 3 (DPP3) a biomarker for cardiac depression (3). The innovative markers are complemented by commonly used parameters such as procalcitonin, troponin, D-dimer, NT-proBNP, and TSH. The biomarkers are made available as rapid tests on the Nexus IB10 bedside technology, a fully automated immunoassay point-of-care instrument, which provides accurate test results within only 20 minutes from whole blood samples. The Nexus IB10 analyzer and its test portfolio can be flexibly deployed in a variety of point of care settings, including emergency departments, intensive care units, and laboratories.

Dr. Angelo Moesslang, Managing Director and Chief Financial Officer of SphingoTec, said, "This distribution agreement is an important step in making our near-patient diagnostics globally available. A point of care solution for acute and critical cases can enable healthcare organizations to maximize diagnostic resources and help clinicians make more informed decisions."

Mr. Shyamakant Giri, Chief Executive Officer of Rivaara said, "Adding the point of care platform and its rapid tests to our portfolio is increasing the settings in which we facilitate integrated diagnostic testing in the patient-care pathway. Not only are we able to provide well established tests used on a daily basis, but we can also enable access to innovative biomarkers, which address unmet needs in disease areas such as acute kidney injury and sepsis."

To discover more about the Nexus IB10 and SphingoTec's portfolio of diagnostic solutions for acute and critical care, please visit www.sphingotec.com. For more information on the Rivaara Labs portfolio, please visit www.rivaaralabs.com



References:
  1. Beunders et. al. Proenkephalin (PENK) as a Novel Biomarker for Kidney Function, The Journal of Applied Laboratory Medicine, Volume 2, Issue 3, 1 November 2017, Pages 400-412, doi: https://doi.org/10.1373/jalm.2017.023598
  2. Geven et. al. Vascular Effects of Adrenomedullin and the Anti-Adrenomedullin Antibody Adrecizumab in Sepsis, SHOCK: August 2018 - Volume 50 - Issue 2 - p 132-140 doi: 10.1097/SHK.0000000000001103
  3. Boorsma et. al. Dipeptidyl peptidase 3, a marker of the antagonist pathway of the renin-angiotensin-aldosterone system in patients with heart failure. Eur J Heart Fail. 2021 Jun;23(6):947-953. doi: 10.1002/ejhf.2158.

About SphingoTec
SphingoTec GmbH ("SphingoTec"; Hennigsdorf near Berlin, Germany) develops and markets innovative in vitro diagnostic (IVD) tests for novel and proprietary biomarkers for the diagnosis, prediction and monitoring of acute medical conditions. SphingoTec's proprietary biomarker portfolio includes bioactive Adrenomedullin (bio-ADM), a biomarker for real-time assessment of endothelial function in conditions like sepsis, and Proenkephalin (penKid), a biomarker for real-time assessment of kidney function. Dipeptidyl Peptidase 3 (DPP3), a biomarker for cardiac depression was in-licensed from 4TEEN4 Pharmaceuticals GmbH (www.4teen4.de). IVD tests for SphingoTec's biomarkers are made available as sphingotest(R) microtiter plate tests as well as point-of-care tests on the Nexus IB10 immunoassay platform by SphingoTec's subsidiary Nexus Dx Inc. (San Diego, CA, USA). The Nexus IB10 portfolio is complemented by established and commonly used biomarker tests for acute and critical care such as PCT, Troponin, NT-proBNP, D-Dimer, TSH and others.

About Rivaara Labs
Rivaara Labs Pvt Ltd. ("Rivaara", Mumbai, India) is harnessing the power of Molecular diagnostics to bring disruptive, affordable, and innovative need-based diagnostic solutions to India. With an extensive range of test services, Rivaara offers sample-to-answer qualified solutions based on a broad portfolio of automated RT-PCR, IT connectivity, superior analysis, and LIMS interface with actionable clinical reports across infectious diseases, oncology, antibiotic resistance, pathogen detection, inherited disease testing and precision medicine. The solutions address a significant unmet medical need for timely, actionable information that addresses the challenges of the current standard of care for diagnosing and monitoring the diseases. The aim is to develop a strong network of specialized Molecular Diagnostics labs, market novel point of care solutions and build a best-in-class national reference lab. Apart from the investment in infrastructure, Rivaara also invests in highly inspired and motivated human capital within the organization.


Media contact SphingoTec:
Ruxandra Lenz

Sr. Manager Marketing and Communications
SphingoTec GmbH
Neuendorfstr. 15 A
16761 Hennigsdorf
Tel. +49-3302-20565-0
press@sphingotec.com
www.sphingotec.com

Media contact Rivaara:
Namita Narkar
Sr. Manager - Strategy & Projects
Rivaara Holdings
31, Maker Chambers VI, 220, Jamnalal Bajaj Marg, Nariman Point
Mumbai - 400021
namita.narkar@rivaaralabs.com
www.rivaaralabs.com
 


17.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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1303281  17.03.2022 

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