The net proceeds will support continued product development, research, product commercialization, working capital, and other general corporate purposes.
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 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.
