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SG Blocks Inks Deal for US Rights to Osang Healthcare Coronavirus Test

NEW YORK — SG Blocks has acquired the nonexclusive US distribution rights to Osang Healthcare's GeneFinder COVID-19 Plus RealAmp Kit for the detection of SARS-CoV-2, the companies said on Tuesday.

New York City-based SG Blocks designs and builds structures using maritime-grade shipping containers. Under the terms of the deal, it will have nonexclusive sales, marketing, and distribution rights to the test in the US for one year. Additional terms were not disclosed.

"We believe that this agreement will enable SG Blocks to create turnkey testing facilities at hospitals and other authorized point-of-care medical locations throughout the USA, including buildings that SG Blocks plans to provide to customers using our modular construction expertise," SG Blocks CEO Paul Galvin said in a statement. "We believe that our units, once developed, can help provide safe, isolated SARS-CoV-2 testing and lab-in-a-box solutions for these service providers."

The GeneFinder test kit detects SARS-CoV-2 nucleic acids in nasopharyngeal, oropharyngeal, nasal, and mid-turbinate nasal swab specimens, as well as in bronchoalveolar lavage fluid and sputum. It received Emergency Use Authorization from the US Food and Drug Administration last month. 

In connection with the arrangement, an undisclosed affiliate of South Korea-based Osang has been granted the right to participate in up to 19.9 percent of any SG Block stock offering during the next six months.