Avellino is pleased to announce a strategic partnership with Sugentech (a
Daejeon, Korea-based diagnostics company) to scale up the supply of tests
designed to detect COVID-19 in the United States. The Sugentech testing
technologies complement Avellino’s current EUA authorized RT-PCR test in the
US, the AvellinoCoV2 test. Under the terms of the agreement, Avellino will
distribute Sugentech’s COVID-19 rapid diagnostic serology test. Avellino will
also commercialize Sugentech’s quantitative viral neutralization,
enzyme-linked immunosorbent assay (ELISA) to determine the presence of
protective antibodies against COVID-19.

Avellino Group Chairman Gene Lee said, “What a great day in the battle against
COVID-19. Not only will this alliance help the US healthcare community meet
the challenges of detecting COVID-19 accurately, but it may also help
healthcare professionals correctly determine the true immune status of a
person who is carrying COVID-19 antibodies. This will be a significant
breakthrough in confirming the efficacy of vaccines, minimizing potential
risks and further opening up society.”

Professor Tara Moore, Chief R&D Officer, added “Under further terms of the
alliance, Avellino and Sugentech will work together in a research and
development collaboration. Using Avellino’s extensive genetic experience, the
companies will drive the design and development of new genetic diagnostic and
immunotherapy targets for Avellino’s current disease focus areas, while also
working to identify new candidate therapies that will expand their portfolio.”

Avellino board member Jim Mazzo said, “We look forward to working side-by-side
with Sugentech and growing together. By complementing each other’s strengths,
this alliance will allow both of our companies to seamlessly provide premium
platform molecular diagnostic tests on a global level, with the goal of
satisfying unmet medical needs that will help physicians and patients who are
waiting for new treatment options.”

About Sugentech

Sugentech Incorporated is a company headquartered in Daejeon in the Republic
of Korea (South Korea). The company is focused on the production and sale of
in-vitro diagnostic test reagents. Sugentech is also involved in the
manufacturing and sale of in-vitro diagnostic test reagents, point-of-care
testing (POCT) products, folic acid products under the name of SOLGAR, as well
as molecular diagnostic reagents. The in-vitro diagnostic test reagents are
for personal use and are sold under the name SUREARLY. The POCT products are
for professional use and are sold under the name INCLIX. In addition, the
Company is engaged in therapeutic drug monitoring, as well as drug analysis
method development.

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