Virax Biolabs Signs Multi-Country Supply Partnership
Virax Biolabs Group Limited (NASDAQ:VRAX) shares surged 100% on Thursday after the company announced an exclusive commercial supply agreement with Fosun Diagnostics for its ImmuneSelect immune profiling product portfolio.
The agreement covers six Southeast Asian markets—Thailand, Vietnam, Indonesia, the Philippines, Singapore and Malaysia—and establishes a framework for immediate product shipments through purchase orders, creating new near-term revenue opportunities and supporting the company’s regional growth strategy.
ImmuneSelect Expansion Targets Southeast Asia
The agreement focuses on Virax’s ImmuneSelect product range, which is already commercially available for research use and operates independently from ViraxImmune, the company’s diagnostic platform that remains in clinical and regulatory development.
Under the partnership, Virax will supply ImmuneSelect products, including ELISpot assay plates designed to measure cellular immune responses, to Fosun Diagnostics. The pricing structure incorporates volume-based tiers intended to support scalable commercial expansion across the ASEAN region.
Initial Rollout Focuses on Tuberculosis Research
The first stage of the collaboration will target tuberculosis-related research applications in Thailand, where Fosun has identified immediate customer demand through the regional distribution network of Fosun Pharma.
The companies also see opportunities to extend the rollout into the remaining five Southeast Asian markets covered by the agreement.
Fosun Diagnostics is the diagnostics division of Fosun Medtech, part of Fosun Pharma, which reported revenue of RMB41.662 billion, or approximately $5.8 billion, in 2025.
Agreement Creates Scope for Future Growth
Beyond the initial supply arrangement, the framework provides opportunities to expand into additional product lines, larger-volume supply agreements and potential OEM or private-label partnerships.
The exclusivity provisions of the agreement are subject to agreed minimum purchase commitments and performance targets.