For Immediate Release

ADG and Maddox Defense Partner with Access Bio to Deliver US-Made COVID Test Kits to Defense Logistics Agency

December 28, 2022

New Contract Bolsters the US Supply Chain for Pandemic Response

Jessup, MD (December 28, 2022) - The Defense Logistics Agency has awarded an Indefinite Delivery/Indefinite Quantity (IDIQ) contract valued at up $410M to Access Bio, an industry leader in medical testing and diagnostics, supported by a US coalition including AirBoss Defense Group (“ADG”), Maddox Defense, and a network of US test kit component suppliers. This competitively awarded contract for the delivery of Made in America COVID test kits supports the US Government's on-going response to the COVID pandemic. The award demonstrates the US Government's strategic shift toward an American-made and sourced policy that is intended to ensure domestic industrial base capability and capacity in areas critical to the US response to any national emergency. Access Bio has already received and commenced deliveries under the first order of approximately one half of this IDIQ contract, valued at US$205M. ADG expects to generate US$19M in revenue during the next six months as this order is completed, and up to an aggregate of US$38M over the lifetime of the contract.

Regarding this award, Patrick Callahan, CEO of ADG, said “ADG has been focused on finding best-in-class partners and capabilities to further its leadership in the survivability and healthcare product sectors. Diagnostics and testing supplies have been an essential part of the US Government’s COVID pandemic response, and this award helps support the domestic industrial base that has emerged to address the enduring need for pandemic readiness. ADG is very proud to continue its support of US government preparedness efforts and is committed to being a key partner in further developing US-made and sourced manufacturing capabilities.”

David Costello
+1 (617) 932-7376

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Certain statements contained or incorporated by reference herein, including those that express management’s expectations or estimates of future developments or ADG’s future performance, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and can generally be identified by words such as “will”, “may”, “could” “is expected to”, “believes”, “anticipates”, “forecasts”, “plans”, “intends” or similar expressions. These statements are not historical facts but instead represent management’s expectations, estimates and projections regarding future events and performance.

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