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Alveo Technologies Inks Distribution Deals Covering Europe, Africa, Middle East

NEW YORK — Alveo Technologies said Wednesday that it has struck 19 agreements for the distribution of its point-of-care molecular diagnostic products throughout Europe, Africa, and the Middle East.

Alveo is developing tests for a variety of infectious diseases including influenza and respiratory syncytial virus, as well as for agricultural pathogens. The cartridge-based tests are designed to run on the Alameda, California-based company's Be.well handheld multiplexed system, which uses loop-mediated isothermal amplification for the direct electrical sensing of nucleic acid amplification, followed by cloud-enabled data analytics.

In early 2021, Alveo received CE marking for a Be.well COVID-19 test. The company said the newly signed distribution deals would help support its planned launch of additional tests in 2024.

The European distribution agreements are Biosan for Hungary; Farmas for North Macedonia, Albania, and Kosovo; Hydrox for Lithuania, Latvia, and Estonia; InterPharm for Montenegro; MD Solutions for Serbia; OK Servis Biopro for the Czech Republic and Slovakia; Synmed Bulgaria for Bulgaria; Synmedom for Romania; Syntec Scientific for Ireland; and Techtum Lab for Sweden.

Additional deals are with Al Hayat Pharmaceutical for the United Arab Emirates; Al Suwaidi for Qatar; Bioteck for Lebanon; Genetics Code for Jordan; Ideal Medical Company for Saudi Arabia; Ultra Diagnostic for Egypt; Cyclopharma for Morocco; MMCD for Algeria; and Maghreb Medical Maintenance for Tunisia.

Alveo said its distribution partners will handle sales and marketing for the products in their respective regions, with support from Alveo's sales and service teams. Additional terms were not disclosed.

Earlier this year, Alveo signed a memorandum of understanding with the Barbados Investment and Development Corporation to codevelop Be.well with scientists in Barbados for infectious disease, agriculture, veterinary, food, medicine, and aquaculture testing.