INDICAID(TM) COVID-19 Rapid Antigen Test Receives Emergency Use Authorization From the U.S. Food and Drug Administration

PHASE Scientific International LTD (PHASE Scientific), today announced that its INDICAID™ COVID-19 Rapid Antigen Test (INDICAID) received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) on July 29, 2021. The FDA authorized the test for professional use in point of care CLIA-waived settings in the U.S. for the qualitative detection of SARS-CoV-2 antigen. Anterior nasal swab specimens may be collected by a healthcare provider or self-collected under the supervision of a healthcare professional. In regions outside of the U.S., such as Hong Kong, S.A.R., China, the test is authorized as a consumer self-test.

INDICAID requires no special instrumentation and can be performed in 20 minutes with a gentle shallow nasal swabbing vs. the deeper penetration required by other tests. INDICAID is also one of the first rapid antigen tests to enable batch sample collection and testing at the point of care due to its unique sample collection vial which protects the sample throughout the collection and staging process. The design gives healthcare professionals the option of collecting a large number of samples concurrently and then quickly testing the individual samples in batches within a two-hour timeframe. To date, there are over two million kits sold across 30 countries worldwide.

"Our test has been globally adopted and utilized to meet a variety of emergency testing needs. From the Hong Kong, S.A.R., China government using INDICAID for healthcare worker's weekly screenings to usage across shopping malls, supermarkets and schools worldwide, our rapid test has proved to be both effective and efficient," said Dr. Ricky Chiu, founder and chief executive officer of PHASE Scientific. "We see this U.S. emergency use authorization as recognition of the importance of our technology and product quality and we are eager to further expand our reach into more markets to do our part in helping combat the COVID-19 pandemic."

About Phase Scientific International LTD: PHASE Scientific is a high-growth biotech company founded by a team of bioengineers from UCLA. The organization is focused on building tools that empower people by giving them better information about their health. Headquartered in Hong Kong, S.A.R., China, its footprint includes research and development, manufacturing and distribution in Hong Kong, S.A.R., China, mainland China and Southern California.