- FluroTech (TEST) is reporting that its point of access test system for SARS-CoV-2 detection is fully functional
- The system’s competitive advantages include a cost per test of less than C$1 as well as radically reduced processing times and equipment costs
- The company expects to complete test optimization and protocol development and enter clinical trials within 3-4 months
- FluroTech’s subsidiary, FluroTest, develops surge-scale rapid antigen testing for the detection of SARS-CoV-2 and other pathogens
- FluroTech (TEST) closed up by 161.54 per cent trading at $0.17 per share
FluroTech (TEST) is reporting that its point of access test system for SARS-CoV-2 detection is fully functional.
The company’s subsidiary, FluroTest Diagnostic Systems, is working on bringing the pandemic and emerging disease defense system to market. Since January 2021, it has optimized its testing protocol and realized a 30-40x improvement in all aspects of the process.
The company believes its testing solution is positioned to achieve the following disruptive breakthroughs:
- An optimized sample processing protocol reducing time, complexity and certain laboratory processing equipment
- The refinement of instrumentation required to read processed test samples, further reducing the time per reading, as well as reducing the capital cost of field-based instrumentation hardware by as much as 50 per cent
- Protocol development efforts resulting in a cost estimate per test of less than C$1, providing pricing flexibility while maintaining favorable gross profit margins
- Overall equipment and sample processing optimization that lowers the capital cost per platform by as much as 50 per cent
It expects to complete test optimization and protocol development and enter clinical trials within 3-4 months.
Bill Phelan, CEO of FluroTest, stated,
“The process for scientific discoveries and innovation takes rigorous work. However, through our rigorous scientific process, the company has achieved breakthrough improvements this year. We will have created a system that can serve a significantly greater population in even more environments than we originally anticipated and at lower cost.”
Dr. Joxel Garcia, the 14th U.S. Assistant Secretary for Health, former U.S. Representative to the W.H.O., and Scientific Advisor to FluroTest, added,
“FluroTest is on the way to achieving significant breakthroughs in the areas of testing and surveillance support for emerging diseases and pandemic mitigation. By dramatically reducing its cost per test as well as the initial investment in the test platform, it can be accessible to more populations on a low-cost basis globally.”
FluroTech’s subsidiary, FluroTest, develops surge-scale rapid antigen testing for the detection of SARS-CoV-2 and other pathogens. Its test combines spectroscopy-based technology, laboratory robotics automation and cloud computing to identify patients with an active SARS-CoV-2 infection within 10 minutes.
FluroTech (TEST) closed up by 161.54 per cent trading at $0.17 per share.
