Chembio Receives Second UNICEF Order for $1.5 Million

HAUPPAUGE, N.Y., April 08, 2020 (GLOBE NEWSWIRE) -- Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostics company focused on infectious diseases, today announced a second $1.5 million purchase order from UNICEF for multiplex Zika, Chikungunya and Dengue (DPP ZCD) Systems, including tests and Micro Readers. The orders follow the successful completion of conditions set forth in the previously announced long term arrangement (LTA). Along with the firm purchase commitment of $1.5 million, the LTA includes additional potential purchases of up to $2.0 million, for a total potential amount of up to $3.5 million. Along with the previous UNICEF order for Chembio’s multiplex Zika IgG/IgM System announced in February 2020, the combined LTAs contemplate up to $7.0 million in potential orders.

“Our DPP ZCD System can accurately detect three unique viral infections, all of which are transmitted by the same type of mosquito, have similar symptoms and are often associated with co-infections,” said Rick Eberly, Chembio’s Chief Executive Officer. “Testing for these viruses in combination will be critical in addressing these co-circulating pathogens. This novel multiplex test will enhance both surveillance capabilities and clinical response efforts, providing significant advantages over current lab-based tests by allowing healthcare providers to take rapid action.”

Chembio’s multiplex DPP ZCD System allows simultaneous and discrete detection of antibodies for both active (IgM) and prior exposure (IgG) to Zika, Chikungunya and Dengue viruses. The DPP ZCD System has received approval from Agência Nacional de Vigilância Sanitária (ANVISA), Brazil’s health regulatory agency, and is CE Marked. It includes the DPP ZCD IgM/IgG Assay and DPP Micro Reader, and 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.

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:

Philip Taylor

Gilmartin Group

(415) 937-5406

investor@chembio.com

Source: Chembio Diagnostics, Inc.

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