Chembio Diagnostics Receives $1.5 Million UNICEF Order for Multiplex Zika Systems

MEDFORD, N.Y., Feb. 12, 2020 (GLOBE NEWSWIRE) — Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostics company focused on infectious diseases, today announced a $1.5 million purchase order from UNICEF for multiplex Zika tests and Micro Readers following the successful completion of conditions set forth in the previously announced long term arrangement (LTA). This initial order is part of the LTA, which has a total opportunity of up to $3.5 million.
Chembio’s multiplex DPP Zika System allows simultaneous and discrete detection of antibodies for both active (IgM) and prior exposure (IgG) to the Zika virus, which is important for both treatment and surveillance.“Our Zika System demonstrated outstanding accuracy while offering rapid detection and ease of use through our point-of-care platform and Micro Reader. These features provide significant advantages over current lab-based tests and make the DPP Zika System a powerful tool in the battle against the virus,” said Gail Page, Chembio’s Interim Chief Executive Officer. “It is a testament to the quality of our products and team to have been chosen by UNICEF and to have met their rigorous standards.”Chembio’s DPP Zika System has received approval from Agência Nacional de Vigilância Sanitária (ANVISA), Brazil’s health regulatory agency, and is CE Marked. It includes the DPP Zika IgM/IgG Assay and DPP Micro Reader, provides quantitative results in 15 minutes from only 10μl of fingertip blood. The DPP Micro Reader is hand-held, easy to use, and can reduce the risk of human error during test interpretation.About Chembio Diagnostics
Chembio is a leading point-of-care diagnostics company focused on detecting and diagnosing infectious diseases. The company’s patented DPP technology platform, which uses a small drop of blood from the fingertip, provides high-quality, cost-effective results in approximately 15 minutes. Coupled with Chembio’s extensive scientific expertise, its novel DPP technology offers broad market applications beyond infectious disease, a number of which applications are under active development with collaboration partners. Chembio’s products are sold globally, directly and through distributors, to hospitals and clinics, physician offices, clinical laboratories, public health organizations, government agencies, and consumers. Learn more at www.chembio.com.Forward-Looking Statement
The statement contained in the first paragraph of this release with respect to the potential amount of orders under the LTA is not an historical fact and constitutes a forward-looking statement within the meaning of the Securities Act of 1933, as amended. Actual results may differ materially from the above forward-looking statement due to a number of important factors, and there can be no assurance as to if or when UNICEF will submit additional purchase orders under the LTA. Chembio undertakes no obligation to publicly update this forward-looking statement to reflect events or circumstances that occur after the date hereof or to reflect any change in Chembio’s expectations with regard to this forward-looking statement or the occurrence of unanticipated events. Factors that may impact Chembio’s success are more fully disclosed in Chembio’s most recent public filings with the U.S. Securities and Exchange Commission.DPP is Chembio’s registered trademark and Micro Reader is Chembio’s trademark. For convenience, these trademarks appear in this release without ® or ^TM symbols, but that practice does not mean that Chembio will not assert, to the fullest extent under applicable law, its rights to the trademarks.Investor contact:
Lynn Pieper Lewis
Gilmartin Group
(415) 937-5402
investor@chembio.com