Virax Biolabs Group Limited (NASDAQ:VRAX) stock is up during Thursday's premarket session, as the company has signed a multi-country commercial supply agreement with Fosun Diagnostics for its ImmuneSelect product line, which is aimed at immune profiling.
The agreement opens access to multiple Southeast Asian markets, potentially driving significant revenue growth for the company as it expands its commercial footprint.
Virax Biolabs is developing in vitro diagnostic technologies for viral and immune-mediated diseases, with an initial strategic focus on post-acute infection syndromes, including Long COVID, and related areas of chronic immune dysfunction.
Add article title and URL VRAX Stock Jumps On Fosun Diagnostics Supply Deal ImmuneSelect is Virax's commercially available research-use-only (RUO) immune profiling product line and is distinct from ViraxImmune, the company's in-development diagnostic platform currently progressing through clinical and regulatory development.
The exclusive agreement covers six Southeast Asian markets, including Thailand, Vietnam, Indonesia, the Philippines, Singapore, and Malaysia, and establishes a framework for immediate product supply under purchase orders.
