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The firm plans to begin its OTC efforts with a COVID antigen test but also sees potential in migrating other infectious disease tests.
Compared with RT-PCR testing, Abbott's BinaxNow test had a sensitivity of 64 percent for samples from symptomatic people and nearly 36 percent for asymptomatic people.
The firm sells a rapid, point-of-care, PCR platform for infectious disease diagnostics, including SARS-CoV-2, influenza, respiratory syncytial virus, and Strep A.
The company launched in November a survey-based test for screening patients for preterm birth risk that it plans to pair with a mass spectrometry-based assay.
The company, which is developing instrument-free, low-cost molecular diagnostics platform for infectious disease testing, plans to float its shares on the Nasdaq.
The firm has signed a three-year agreement with the University Hospital of Zurich to develop the test for use in kidney transplant recipients.
The companies will combine Hamilton's LabElite DeCapper with the Rhinostic swab collection device for hands-free, high-throughput sample processing.