Achiko’s rapid Covid-19 diagnostic test AptameX(TM) receives product and registration approval from Indonesia’s Ministry of Health

• AptameX™, Achiko’s breakthrough DNA aptamer-based diagnostic
  test for Covid-19, received product and registration emergency use approval
  from the Ministry of Health in Indonesia, alongside its sister digital
  passporting service, Teman Sehat™ (“Health Buddy”).
• PT Achiko
  Medika Indonesia, which is 50% owned by Achiko AG, and its manufacturing
  partner, PT Indofarma TBK, have signed an agreement for the production and
  registration of AptameX™.
• The approval,
  together with the partnership with PT Indofarma TBK, will enable access to
  low-cost and accurate Covid-19 testing for over 270 million Indonesians.
• Achiko closes
  funding with strategic investors for CHF 3.45 million. Proceeds will be used
  for working capital, business consolidation, and redemption of the Yorkville
  convertible note facility.

ZURICH, SWITZERLAND – EQS Newswire – 25 August 2021 – Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SWX: ACHI, ISIN CH0522213468) through PT Achiko Medika Indonesia (“Achiko”,
the “Company”), is pleased to announce that the Ministry of Health of
the Republic of Indonesia has granted product and registration approval for its
proprietary low-cost, rapid Covid-19 diagnostic test, AptameX™, alongside its sister digital passporting
service, Teman Sehat™ (“Health Buddy”). Achiko’s
50%-subsidiary, PT Achiko Medika Indonesia, and PT Indofarma TBK (“Indofarma) have
entered into an agreement to manufacture AptameX™ and have received product registration approval
in Indonesia.

The approval opens the door to the rapid scale-up of
production and sale of Achiko’s AptameX™ test kits in Indonesia. Available at an affordable price, AptameX™ provides millions of Indonesian residents with
access to accurate diagnostic testing for Covid-19, enabling the country to
more effectively control and contain the pandemic. Indonesia passed 50,000
daily Covid-19 cases in mid-July, amid the spread of the Delta variant in
Southeast Asia.

“We are proud and excited to receive the official
approval for our breakthrough test kit AptameX™. It is an immense achievement for us to be able to
market it with Indofarma,” said Steven Goh, CEO of Achiko. “At the
projected vaccination rate, and considering likely mutations of the virus, the
next few years may be very challenging not only for Indonesia, but also quite
possibly for the entire world. The combination of AptameX™ and Teman Sehat™ provides communities and governments with an
affordable, easy-to-use test and a digital passporting service, empowering them
in their fight against Covid-19 and all its variants.”

Covid-19 poses a challenge to traditional testing
methods, as low viral loads evade most rapid tests, calling for a new paradigm.
AptameX™ uses a
proprietary, novel chemistry matching the speed of lateral flow rapid tests,
while improving on sensitivity. At a significantly lower price point than other
tests, it also offers a better user experience. Those that test positive are
alerted promptly through the Teman Sehat™ digital passporting service and asked to follow local guidelines on
isolation and quarantine. Its affordability, scalability and superior
performance make it an ideal tool in Indonesia’s fight against Covid-19.

Indofarma’s President Director, Arief Pramuhanto,
explains: “Testing regularly is crucial in containing the pandemic.
AptameX™ is a
Covid-19 diagnostic test produced domestically by and for the people of
Indonesia that has been designed to be integrated into dental hygiene routines.
Access to reliable and affordable testing will allow us to lead normal lives
again and at the same time work to control the spread of Covid-19. Indofarma,
in partnership with Achiko, aims to make this diagnostic readily available at
an affordable price for everyone.”

Dr Morris S. Berrie, President of Achiko, added:
“Our team has been tireless in developing our technologies for rapid,
affordable, diagnostic testing for Covid-19 and other forthcoming indications.
AptameX™ is
designed to be easy to use and affordable, and therefore accessible to anyone.
We believe AptameX™ and our
digital passporting service Teman Sehat™ will be vital diagnostic resources for many years to come.”

In the cooperation between Achiko and Indofarma, a
member of Indonesia’s Holding BUMN Farmasi, which is partly owned by the
Government of the Republic of Indonesia and listed on the Indonesia Stock
Exchange (IDX: INAF), Achiko will provide the technology and all materials for
diagnostic kits while Indofarma will carry out the production and product
registration processes.

Following the Ministry of Health’s approval for
AptameX™, Achiko is
looking forward to securing a CE mark and introducing AptameX™ and Teman Sehat™ swiftly in further countries and regions. In
parallel, Achiko is also investigating applications of AptameX™ to a range of other pathogenic diseases and
therapeutic indications.

Achiko, on product approval, has raised a total amount
of CHF 3.45 million through share placement at an average price of CHF 0.192
per share to a leading Swiss venture capital group, OCS International
Commodities & Investments FZCO and other private investors. The funds are
to be used as working capital and production funds as well as for the
redemption of the Yorkville convertible note facility from 25 November 2020.

“We’re grateful for the
support of all our investors and shareholders,” said Achiko CEO Goh.
“These most recent investments provide a solid platform to consolidate our
strategy as a global leading diagnostics company, connecting our capabilities in
Europe and Asia in the fight against the challenge of Covid-19.”