OpGen Says Co-Markets COVID-19 Antibody Test Kit

(RTTNews) - OpGen Inc. (OPGN) said that it is marketing and promoting the CELLSEARCH system, CELLSEARCH CEC kit, and certain COVID-19 related products that are sold and distributed by Menarini Silicon Biosystems or MSB on a non-exclusive basis.

OpGen said it is authorized to market and promote such products in the United States, Canada, and Mexico under a strategic co-promotion agreement entered into by OpGen and MSB.

The COVID-19 related products include an IgG/IgM Rapid Test Cassette that is manufactured by Healgen and sold by MSB, which is an antibody test that provides results in as fast as 10 minutes.

The IgG/IgM Rapid Test Cassette has been authorized by the FDA under an emergency use authorization for use by authorized laboratories. The test has been authorized only for the presence of IgM and IgG antibodies against SARS-CoV-2, not for any other viruses or pathogens, OpGen said.

As per the terms of the co-promotion agreement, OpGen is entitled to certain payments based on MSB's net sales from customers referred by OpGen for such products, including the IgG/IgM Rapid Test Cassette. The companies expect to continue to expand the portfolio of COVID-19 products available as part of the non-exclusive co-promotion relationship.

OPGN closed up 52.49 percent on Friday at $3.37.