30 April 2021 | News
Achiko AG's joint venture partner PT Indonesia Farma Medis (IFM) obtains medical device distribution certificate
Swiss firm Achiko AG's joint venture partner PT Indonesia Farma Medis (IFM) has been granted a medical device distribution certificate for Indonesia and commences product registration for AptameX.
This certificate will allow for the procurement, storage and distribution of the novel diagnostic test, AptameX (formerly Project Gumnuts) in Indonesia. It establishes the foundation for a subsequent product registration facilitating the production and sales of the product in Indonesia. Achiko has subsequently commenced product registration with its partners with a view to a mid-year commercial product availability.
To this end, Achiko and IFM are progressing forward with the establishment of the joint venture company PT Achiko Medika Indonesia for the production, distribution and marketing of AptameX in Indonesia. Achiko will realise revenues on 50 per cent holding and earn 10 per cent licensing fee from gross sales.
Indonesia is a significant and important market, with over 270 million people spread over 16,000 islands. The joint venture meets local ownership and approval requirements, enabling Achiko's solution to provide security for millions of Indonesians' lives through facilitating access to several tests a month, each at an affordable price.