The company plans to launch its COVID-19 test in the early fall with CE marking and submit to the US Food and Drug Administration for Emergency Use Authorization.
The digital pathology firm is working to further develop its diagnostic capabilities and broaden its menu of algorithms for different diseases.
The test looks at the reactivity of live T cells to measure the cytokine response in patients who have been vaccinated or are recovering from SARS-CoV-2.
Although there is still demand for the company's COVID-19 products, it has also launched tests for cardiovascular disease, Alzheimer's, and more.
There were 39 total mergers and acquisitions in the first six months of 2021, with two deals topping out over $1 billion.
The company previously launched its Concert Coding Engine to help standardize how genetic tests are coded and how labs can bill for them.
Experts cautioned, however, that firms will need a broader portfolio than just COVID-19 testing for sustainability in the public markets.
The biomarker can detect both aggressive and low-grade forms of bladder cancer, and a test for the biomarker has been licensed by KDx Diagnostics.
Originally developed to detect contamination of cell therapy products, the method combines CRISPR and PCR technology and can be used to quantify viral loads.
The company's technology measures 500 different volatile organic compounds to detect infectious diseases and cancer with real-time results.