The test returns results in less than 30 minutes and has shown 97 percent sensitivity and 96 percent specificity in both symptomatic and asymptomatic people.
In an SEC filing, the firm said it intends to use the IPO proceeds to support manufacturing and establish a sales and marketing team, among other activities.
The RT-LAMP-based platform, which the researchers plan to commercialize through a spinout company, could be adapted for other infectious disease tests.
The pace of development for CRISPR-based infectious disease assays increased as the pandemic progressed, more funding became available, and collaboration accelerated.
The two new tests, which have the capability to quantify a patient's viral load, have been designed without external RNA extraction or amplification steps.
