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The company said its ELISA assay uses the SARS-CoV-2 nucleoprotein as an antigen for the early detection of antibodies against SARS-CoV-2.
The net proceeds will support continued product development, research, product commercialization, working capital, and other general corporate purposes.
The Euroimmun's Anti-SARS-CoV-2 ELISA test is the first serology test whose results were independently validated by the federal government.
The ELISA-based tests are designed to qualitatively detect three virus-associated antibodies in serum and are being launched immediately.
The assay, called COVID-19 ELISA IgG Antibody Test, detects human IgG antibodies in serum and plasma from individuals suspected of prior infection with SARS-CoV-2.
Biomerica intends to manufacture ELISA test technology licensed from Mt. Sinai. The firm said it has capacity to manufacture 1 million tests per month.
The anti-SARS-CoV-2 antibodies for classes IgA and IgG are two of the first antibody detection tests to receive CE making and be made available for SARS-CoV-2 testing.
The San Francisco-based startup believes that its QiSant assay could help guide the use of immunosuppressive drugs and other therapies to prevent kidney transplant rejection.
The researchers envisage deploying a point-of-care assay based on a fluorescent nanophotonics platform.
The Swedish firm Biovica said this and additional studies will form the basis of a US Food and Drug Administration submission for its test measuring thymidine kinase-1.