Abingdon Health secured a supply agreement with Taiwanese Arise Corporation for 10 million antigen testing. The purchasing order depends on Taiwan EUA (EUA).
Arise was founded in 1971 and is based in Taiwan, Japan, Singapore, and other Asian countries.
Abingdon will introduce a new e-commerce site in the third quarter of 2022, featuring lateral flow self-tests and professional-use exams. Abingdon Simply Tests include Covid-19.
Abingdon will receive a 10-million-test order after the agreement is signed. Abingdon Simply Test Taiwan Emergency Use Authorization is required for the purchasing order (EUA).
Once EUA is established, Arise will provide Abingdon Health with an irrevocable revolving letter of credit for full payment of each shipment. Abingdon Health does not know when the EUA review procedure will be complete.
Arise Biotech can buy an additional 20 million Abingdon Simply Tests under the supply agreement.
Abingdon Health CEO Chris Yates said: “We’re excited to work with Arise Biotech to deliver Abingdon Simply Test COVID-19 testing to Taiwan. We must tell investors that this order is contingent on Taiwan’s EUA application procedure, and we’ll keep them updated.”
Arise CEO Samuel Chou said: “Abingdon Health has helped us achieve our aim of global diagnostics equity. May this project show God’s grace.”