NanoLogix, an innovator in the rapid detection, identification and determination of antibiotic resistance and sensitivity of live bacteria, have signed a distribution agreement with IVD Tech Private Ltd of Singapore. This distribution agreement provides IVD Tech with exclusive distribution rights for sales of NanoLogix products in a number of Asian countries. The agreement was finalized and signed in Hubbard Ohio with the help of Mousa Kassis, representative of the Ohio International Trade Assistance Center (ITAC) housed at Youngstown State University.
IVD Tech Private Ltd. Executive Directors James Sim and Charlton Kwan, who traveled from Singapore to NanoLogix headquarters in Ohio for the signing, made the following joint statement:
"NanoLogix possesses an amazing technology in their rapid live-cell bacteria and microorganism detection kits. Together with patented Extended Life (EL) packaging technology, IVD Tech strongly believes that NanoLogix's live-cell rapid detection kits and EL packaging technology is going to be a game changer in the diagnostics and petri plate technology space.
IVD Tech is extremely blessed and excited to be NanoLogix's Asia partner. Engagement has already started with potential channel partners and end users in Singapore, Japan, China and other countries.
IVD Tech's headquarters is purposely located in Singapore, a business and financial hub for Asia. Both NanoLogix and IVD Tech value Singapore's strong intellectual property protection, and close ties and proximity to other Asian countries. IVD Tech is to become the window and platform for Nanologix to access into the Asia region."
NanoLogix CEO, Bret Barnhizer, stated: "It is gratifying that this agreement, which was essentially in development for a year, has been executed. We are very glad to have such an accomplished business group representing our company in an area with huge business potential. We look forward to a long and mutually beneficial relationship with IVD Tech".
Source: Business Wire
Click here for the complete issue.