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Aegirbio AB signs distribution agreement for COVID-19 test, receives order for at least MSEK 40

Aegirbio AB signs distribution agreement for COVID-19 test, receives order for at least MSEK 40 Aegirbio has today signed an agreement for distribution of COVID-19 tests with NowMed Sweden AB, which is a company focused solely on COVID-19 products.

The cooperation with NowMed Sweden entails that the company will act as distributor and partner on the Scandinavian professional market. NowMed Sweden will further assist with warehousing, orders and deliveries to the rest of the world. Sales outside the Nordic countries will be handled internally by Aegirbio.

The agreement is premised on the parties sharing the profit, which implies that Aegirbio will be able to maintain its good margins also in the long term. Today’s order alone is worth at least MSEK 40 to Aegirbio.

NowMed Sweden is a company with extensive experience, and has since the outbreak of the pandemic focused on the market of COVID-19-related products. NowMed Sweden has established contacts with major regions, both within private and public healthcare, as well as with other companies with an interest in COVID-19 products. With experience of supplying close to ten million nitrile gloves, one million face shields and many millions of face masks to various recipients, NowMed Sweden has now built up a very good organization for warehousing, order management, logistics and sales. Aegirbio will benefit greatly from this.

“We were somewhat taken by surprise by the great interest in the test. As a company, we were not yet prepared to manage such large requests or deliveries. As such, we are very happy that we were able to find an adequate operator at such short notice, that is active in the market, has an established network of contacts and a working logistics flow. To find a partner that enables us to respond to the needs of the market like this, by bringing large quantities of our product to market quickly, is unique for us as a small research and development company,” says Martin Linde, CEO of Aegirbio, and continues:

“To immediately receive an order of this magnitude on top of that is amazing. It shows that NowMed Sweden AB truly believes in the product and its ability to generate large volumes of sales.”

“With the good experience we have acquired since we were among the first to provide healthcare, regions and municipalities with essential products in early 2020, this collaboration feels great. It is unique for us to get the opportunity to represent Aegirbio. We are seeing immense potential in the market for COVID-19 tests, where we will be able to leverage our already cultivated relations to quickly bring the tests in question to market. This cooperation strengthens our faith in the future,” says Pär Mellberg, CEO of NowMed Sweden.

Aegirbio’s test is a saliva-based rapid test that is easy, quick and convenient to administer, without the discomfort of nasal swab testing. The consumer first collects saliva into a container containing a reagent, then pours the liquid onto the reagent stick. After a waiting period of five minutes, the result can be read from the stick, with a clear line indicating whether infection was detected.

Thanks to the various measures implemented to limit the spread and the increasing rate of vaccination in the population, the number of infected individuals is decreasing. Nevertheless, there will still be unlimited applications for a simple and precise test. For a long time to come, workplaces, schools, events and, not least, travel agencies will want to verify COVID-19 infection status before allowing admission to concerts and other gathering places. It will also facilitate the containment of outbreaks at workplaces or in schools significantly.

The product will be CE marked for professional use, and Aegirbio has initiated the process to make the test available to everyone. This marks the start of a broad rollout and enables us to launch in several continents at the same time.