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Z Biotech signs massive deal to provide animal test kits to U.S.

Collected: 2017.12.12

Distributed: 2017.12.13

Source: Go Direct

Z Biotech Inc., a South Korean startup to develop disease diagnostic kits for pet animals, announced on Monday it has signed a $178 million deal to supply its point-of-care testing kits to MicroVet Diagnostics, a U.S. distributor of animal medicines, over the next 15 years.

Under the deal, Z Biotech will provide raw materials, semi-finished and finished products by category to the U.S. company which will directly file for product registration and regulatory approval in the local market. MicroVet Diagnostics will cover the initial investment cost of $2 million for approval procedures and production facilities.

Z Biotech said it expects revenue from diagnostic products with a simple registration process to be recognized from as early as the middle of next year.

Z Biotech was founded in 2014 and is staffed by a group of in-vitro diagnostic researchers and marketing experts. To use AnyLab, a sample simply needs be placed onto the test kit and the results will come in 10 minutes later. Eye booger, feces or blood of a dog or a cat can be used as a test sample.

By Lee Young-wook and Minu Kim

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