(Yicai Global) Feb. 14 -- Shenzhen YHLO Biotech will supply a unit of Japanese petrochemical products maker JSR Corp. with novel coronavirus antigen tests in a deal worth USD53 million, the Chinese immunoassay solutions maker said yesterday.

The products will be supplied to Medical & Biological Laboratories for use in the Japanese market only, the Shenzhen-based firm said. The number of detection kits ordered was not given.

YHLO Biotech’s Covid-19 test kit was granted a manufacturing and sales license by Japan’s product development and management association on Feb. 10, the firm said a day later. The kits can be used at home or in medical institutions.

The purchase order will have a positive influence on the company’s presence in overseas markets, especially that of Japan, it added.

However, the news did little to lift the firm’s share price [SHA:688575] which sank 7.92 percent to close at CNY39.99 (USD6).

Editor: Kim Taylor