Acumen Diagnostics Granted Ministry Of Health COVID-19 Offsite PCR Testing License, Up To 100 Sites Island-wide

Homegrown medical technology Company, Acumen Diagnostics Pte. Ltd. ("Acumen Diagnostics" or the "Company"), a 51% owned subsidiary of Q&M Dental Group (Singapore) Limited ("Q&M Dental") and 49% owned by Aoxin Q&M Dental Group Limited ("Aoxin Q&M Dental"), today announced that it has been granted a license by the Ministry of Health, Singapore to provide offsite COVID-19 polymerase chain reaction ("PCR") swab services and serology sample collection.

The Company will roll out its testing services via Q&M Dental's network of clinics, and also at Acumen Diagnostics' headquarters located at The Gemini, 41 Science Park Road, Singapore.

Dr Ong Siew Hwa, Chief Executive Officer & Chief Scientist of Acumen Diagnostics and Executive Director of Aoxin Q&M Dental, said "Vaccination coupled with a robust testing regime remains the best strategy to tackle the virus enabling a safe and more sustainable re-opening of the economy.

PCR tests remain the gold standard for accurately detecting COVID-19 cases and with the potential higher transmissibility of new variants such as Omicron, testing needs to be deployed quickly and provide highly accurate results to control the spread of the virus."

With the onset of the Omicron variant and Vaccinated Travel Lane arrangements with more countries being added, the Company will ramp up its COVID-19 PCR testing services in anticipation of the increased demand for PCR testing, at an initial 10 Q&M Dental outlets plus the Company's headquarters, by 31 December 2021. See Annex A below for details of the 10 Q&M Dental outlets. More sites will be added in the next few months to the rest of the Q&M Dental network, with a potential capacity to activate 100 sites island-wide.

Dr Ng Chin Siau, Chief Executive Officer of Q&M Dental said, "Through Q&M Dental's extensive network of clinics, with capacity to roll out to 100 sites island-wide, we as a Group are committed to provide highly accurate and accessible PCR tests to make COVID-19 testing hassle-free and convenient for all Singapore residents.

And with one of the most competitive pricing available in Singapore, we will ensure that our tests remain affordable for everyone who needs to be tested. We will continue to do our part to contribute to the national effort to combat the COVID-19 virus and progress towards living with endemic COVID-19."

Those who require their PCR test results on urgent basis can also visit Acumen Diagnostics' headquarters at The Gemini, 41 Science Park Road, Singapore. With its headquarters located in close proximity to the Company's two laboratories, PCR test results will be available in as early as 4 hours. For an additional fee, the Company also provides doorstep PCR testing services to your home or workplace.

Acumen Diagnostics possesses deep technical capabilities and the supporting infrastructure in molecular diagnostics, spanning R&D, manufacturing, and clinical laboratory testing, with 2 laboratories that are able to process over 7,000 COVID-19 diagnostics tests daily.

Recently, on 3 December 2021, Acumen Diagnostics also announced that its proprietary, locally-manufactured PCR test kits Acu-Corona 2.0 and Acu-Corona Duplex are able to detect COVID-19 positive cases infected with the Omicron variant. In addition to detecting COVID-19 positive cases infected with the Delta variant, the Company's proprietary PCR test kits are able to pick-up COVID-19 positive cases infected with the Omicron variant as well.

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