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Korea Herald
16-07-2025
- Business
- Korea Herald
PHASE Scientific Expands INDICAID® Respiratory Portfolio with Exclusive U.S. Launch of Novel FebriDx® Test
GARDEN GROVE, Calif., July 16, 2025 /PRNewswire/ -- PHASE Scientific, a fast-growing biotech company known for its science-driven innovation and commitment to improving healthcare outcomes, today announced that it has entered into an exclusive U.S. distribution agreement with Lumos Diagnostics for FebriDx ®, a rapid point-of-care (POC) test that aids in the diagnosis of bacterial acute respiratory infection and differentiation from non-bacterial etiology in approximately 10 minutes using a single drop of blood. With strong product differentiation, FDA 510(k) clearance, and an anticipated CLIA waiver application within the next three months, FebriDx ® is poised to transform how clinicians diagnose and manage respiratory infection. FebriDx ® will become part of PHASE Scientific's INDICAID ® portfolio – a trusted brand for high-quality, accessible rapid diagnostics. The partnership marks a significant milestone in PHASE's commercial expansion in the United States, building upon a nationwide network of urgent care centers, clinics, and healthcare providers and a proven track record of distributing over 100 million INDICAID ® tests. "We are thrilled to partner with Lumos, a company that shares our commitment to shaping the future of healthcare through innovation and collaboration, and support them with our scalable go-to-market strength in North America," said Dr. Ricky Chiu, Founder and CEO of PHASE Scientific. "A powerful complement to our INDICAID ® respiratory portfolio, FebriDx ® is a first-in-class diagnostic that perfectly aligns with our mission to bring fast, actionable diagnostics to the frontlines of care. We are confident this will unlock synergistic opportunities, further advancing our impact on antimicrobial stewardship and clinical decision-making across the U.S. As we continue to expand the INDICAID ® brand, we remain dedicated to strengthening our leadership in point-of-care solutions, empowering clinicians, and improving access to high-quality healthcare." Doug Ward, CEO of Lumos Diagnostics, commented, "This distribution agreement reflects a pivotal moment in Lumos' evolution. We look forward to working with the PHASE Scientific team to ensure that FebriDx ® secures adoption in the U.S. market, delivering tangible clinical and financial value to the broader healthcare system. This agreement also validates the value of the FebriDx ® technology and provides a clear pathway to the U.S. market, which we expect will accelerate rapidly should we receive a grant for CLIA waiver from the FDA. Transforming Respiratory Infection Diagnosis FebriDx ® fills this diagnostic gap with a rapid, point-of-care test that uses a unique combination of C-reactive protein (CRP) and Myxovirus resistance protein A (MxA) biomarkers to aid in the diagnosis of bacterial from non-bacterial respiratory infections after 10 minutes. Its lateral flow format requires only a fingerstick blood sample and has been validated in a pivotal clinical study and demonstrated good diagnostic performance that can, in turn, improve diagnostic confidence and antibiotic stewardship decisions. By enabling faster, more informed treatment decisions, FebriDx ® supports more targeted care in busy patient settings – currently including urgent and emergency care. A CLIA waiver study is progressing well, with anticipated study completion and application submission expected within the next three months. This would expand access to FebriDx ® across a broader range of outpatient environments, representing a market opportunity of approximately US$1.5 billion. Driving Antimicrobial Stewardship FebriDx ® plays a critical role in aiding in addressing the global threat of antimicrobial resistance (AMR), which continues to strain public health systems and drive avoidable costs. By providing rapid, actionable results at the point of care, FebriDx ® helps reduce unnecessary antibiotic prescribing – a key contributor to AMR – and improves clinical workflows by supporting more accurate triage and treatment. Clinical studies have demonstrated that integrating FebriDx ® can lead to reduced antibiotic use, lower healthcare costs, and better patient outcomes. Its unique ability to guide appropriate prescribing makes it a valuable tool in everyday patient care. Strengthening U.S. Market Presence This agreement represents a major step in PHASE Scientific's strategy to reinforce its dual strengths in R&D innovation and commercial execution, as well as accelerate its leadership in the U.S. diagnostics market. Known for its proprietary PHASIFY™ technology and innovation pipeline in cancer and infectious disease diagnostics, PHASE Scientific is now demonstrating its scalable go-to-market strength in North America. About PHASE Scientific PHASE Scientific International Limited ("PHASE Scientific") is a fast-growing biotech company with a mission to inspire a new state of health through innovative diagnostics and healthcare solutions. With operations in the U.S., mainland China, and Hong Kong SAR, PHASE delivers novel diagnostic tools and services for cancer and infectious diseases using proprietary technologies, empowering better disease detection, diagnosis, and management. PHASE Scientific's products and services have received certifications from the U.S. Food and Drug Administration (FDA), the European Union CE, and regulatory agencies in various countries, providing over 100 million testing products and services in more than 30 countries worldwide. PHASE Scientific has recently completed a US$34 million Series A funding round, representing the largest Series A raise in Asia's diagnostic technology sector since 2019. Other supporters include Gates Foundation, and US governmental agencies National Science Foundation and National Institutes of Health. For more information, please visit FebriDx ® is a unique, rapid point of care test that helps clinicians differentiate between bacterial and non-bacterial acute respiratory infections through a simple fingerstick blood sample after 10 minutes. By aiding clinicians make faster, better decisions at the point-of-care, FebriDx ® has the potential to improve patient outcomes, reduce unnecessary antibiotic prescriptions, and lower overall healthcare costs – all while addressing the urgent global challenge of antimicrobial resistance (AMR). About Lumos Diagnostics Lumos Diagnostics specializes in rapid and complete point-of-care diagnostic test technology to help healthcare professionals more accurately diagnose and manage medical conditions. Lumos offers customized assay development and manufacturing services for point-of-care tests and proprietary digital reader platforms. Lumos also directly develops, manufactures, and commercializes novel Lumos-branded point-of-care tests that target infectious and inflammatory diseases.
Bloomberg
21-05-2025
- Business
- Bloomberg
Covid Cases Spike in Hong Kong, Singapore
Phase Scientific CEO & founder Ricky Chiu discusses the recent Covid-19 spikes in Hong Kong, Singapore and how that has affected the company's business with Bloomberg's Yvonne Man and David Ingles. (Source: Bloomberg)
Bloomberg
21-05-2025
- Business
- Bloomberg
Covid Testing Demand Surges as Cases Spike Across Asia
Demand for Covid tests is increasing in Hong Kong as cases surge in recent weeks, according to the top executive of diagnostic kit-maker Phase Scientific International Ltd. The Hong Kong-based company, which is a major provider of Covid testing kits in Asia Pacific, has seen business gain because of the Covid wave across Asia, Chief Executive Officer Ricky Chiu said in an interview with Bloomberg TV.
Yahoo
21-05-2025
- Business
- Yahoo
Covid testing demand surges as cases spike across Asia
(Bloomberg) – Demand for Covid tests is increasing in Hong Kong as cases surge in recent weeks, according to the top executive of diagnostic kit-maker Phase Scientific International. The Hong Kong-based company, which is a major provider of Covid testing kits in Asia Pacific, has seen business gain because of the Covid wave across Asia, Chief Executive Officer Ricky Chiu said in an interview with Bloomberg TV. Health authorities in densely-populated Hong Kong and Singapore have warned that Covid-19 cases are spiking, while data from the Chinese Center for Disease Control and Prevention showed the Covid wave in China is on track reach last year's summer peak. Shares of Covid test kit and drug makers in Asia have risen tracking a surge in infections. 'Covid is a seasonal thing,' said Chiu, adding that 'definitely there is a spike in the business.' Phase Scientific has also seen growth in its non-Covid testing business due to the pandemic, which made more people aware of the importance of at-home testing for other diseases, Chiu said. The company has developed the world's first urine-based human papillomavirus test, and is planning to expand that business globally. The company raised $34 million in Series A financing this week, the largest such round in Asia's diagnostic technology sector since 2019. (Updates with more details.) More stories like this are available on ©2025 Bloomberg L.P.
Business Times
21-05-2025
- Business
- Business Times
Covid-19 testing demand surges as cases spike across Asia
[BEIJING] Demand for Covid-19 tests is increasing in Hong Kong as cases surge in recent weeks, according to the top executive of diagnostic kit maker Phase Scientific International. The Hong Kong-based company, which is a major provider of Covid-19 testing kits in Asia Pacific, has seen business gain because of the Covid-19 wave across Asia, chief executive officer Ricky Chiu said. Health authorities in densely-populated Hong Kong and Singapore have warned that Covid-19 cases are spiking, while data from the Chinese Center for Disease Control and Prevention showed the Covid-19 wave in China is on track reach last year's summer peak. Shares of Covid-19 test kit and drug makers in Asia have risen tracking a surge in infections. 'Covid-19 is a seasonal thing,' said Chiu, adding that 'definitely there is a spike in the business'. Phase Scientific has also seen growth in its non-Covid-19 testing business due to the pandemic, which made more people aware of the importance of at-home testing for other diseases, Chiu said. The company has developed the world's first urine-based human papillomavirus test, and is planning to expand that business globally. The company raised US$34 million in Series A financing this week, the largest such round in Asia's diagnostic technology sector since 2019. BLOOMBERG
