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The loan will help fund Scope's development of its PCR One point-of-care molecular diagnostic instrument and related respiratory virus panel.
Healthcare providers need multiplexed tests that can differentiate the flu from the coronavirus so they can treat patients quickly and appropriately.
The test is for use with the company's Liaison MDx instrument and can be used alone or with the Simplexa COVID-19 Direct kit.
The RT-PCR test runs on Roche's automated Cobas 6800/8800 systems and is also available in countries accepting the CE mark.
Some of the firms will receive money to speed up test development, while others will use the funds to expand their testing and manufacturing capacity.
The PCR-based panel is designed to differentiate between SARS-CoV-2 and other common winter infections with high specificity and sensitivity.
Antelope is currently developing a urine-based at-home test for the sexually transmitted infections Chlamydia trachomatis and Neisseria gonorrhoeae.
Both tests can detect SARS-CoV-2 in 90 minutes and will detect viruses like influenza and respiratory syncytial virus that tend to occur in the winter.
The funding package earmarks billions for the Public Health and Social Services Emergency Fund and Biomedical Advanced Research and Development Authority.
The combination flu and RSV assay can be used alone or in combination with the company's Simplexa COVID-19 Direct assay for SARS-CoV-2 infection.