NEW YORK (360Dx) — Biomerica said today that it has signed an exclusive sales and distribution agreement for its EZ Detect colorectal cancer screening test in China with Wuxi-based Maxhealth.
Under the terms of the deal, Maxhealth will offer EZ Detect — a flushable pad that detects the presence of fecal occult blood when dropped into a toilet following a bowel movement — in China and meet annual minimum purchase requirements totalling $17 million over seven years. Maxhealth has also agreed to pay Biomerica $1 million upfront upon meeting certain undisclosed conditions.
In early 2018, EZ Detect was cleared by the China Food and Drug Administration. According to Irvine, California-based Biomerica, Maxhealth's status as the exclusive regional distributor for Olympus gastrointestinal endoscopy products will help it sell the test to hospitals, gastrointestinal physicians, and related medical institutions.
"In countries like China with socialized medicine, EZ Detect is the least expensive way to screen populations since there is no mailing of samples and no laboratory processing," Biomerica CEO Zack Irani said in a statement.
In November, Biomerica inked a three-year distribution deal for EZ Detect with Medline Industries.