Noul to export $1.4 mn in malaria diagnostic kits to Angola

South Korean in-vitro diagnostics maker Noul Co. has signed an exclusive sales deal in Angola on the company’s malaria diagnostic platform worth around 2 billion won ($1.4 million).

This is the company’s fourth deal this year with a developing market following those concluded in January, July and August with countries in the Middle East and Africa.

Noul on Monday said its contract with a medical device wholesaler in Angola, which is close to Nigeria, which has the world’s highest number of malaria cases, is on supply of the automated diagnostic platform miLab and malaria diagnostic cartridges through 2028. This deal is worth four times Noul’s sales last year of 500 million won.

“The contract amount is based on the minimum order quantity,” the company said in its announcement of the order. “We will give the name of our partner company next year on Oct. 16.”

“The potential for additional orders is certainly open,” a Noul source said over the phone on Monday. “But the order volume has not been released at this time.”

miLab stains and analyzes cells without water to diagnose a condition within 15 minutes, thus attracting attention from niche markets that lack basic infrastructure such as water and sewage facilities. The platform’s weight was also reduced to 10 kilograms, offering the advantage of conducting diagnostic tests without large equipment or a lab.

Industry sources said that before year’s end, Noul plans to sign another supply contract exclusively in the Middle East and Africa, and if this happens, its deals this year are expected to reach 15 billion won in combined value.

The company is also known to be preparing to receive an order from a medical device company in Southeast Asia.

Write to Jeong Min Nam at peux@hankyung.com