Weeks after the global community began to reopen, there are signs of a coronavirus resurgence. New cases and hospitalizations are aggressively sweeping across Florida, California, Texas, Alaska, Arkansas, Kentucky, Mississippi, North Carolina, Oregon, South Carolina, and Utah. Brazil, the UK, and China are reporting higher case counts, as the world nears the eight million-case mark. The United States is up to 2.094 million cases. Brazil is now up to 867,624. Russia is up to 536,484. India is up to 332,424. The UK is up to 297,342. With numbers expected to rise, the world needs millions of test kits.
In fact, a new report from Harvard University’s Edmond J. Safra Center for Ethics, “Roadmap to Pandemic Resilience”, the U.S. will need up to 20 million tests a day “to fully remobilize the economy,” as quoted by MarketWatch. With that, and news of a “second wave” of the virus, demand for testing is only likely to increase. Some of the companies racing to meet accelerating demand include Datametrex AI Limited (TSXV:DM)(OTC:DTMXF), Laboratory Corp. of America Holdings (NYSE:LH), Abbott Laboratories (NYSE:ABT), Quest Diagnostics Inc. (NYSE:DGX), and Vir Biotechnology Inc. (NASDAQ:VIR).
Datametrex AI Limited (TSXV:DM)(OTC:DTMXF) BREAKING NEWS: Datametrex AI Limited just announced that it has secured non-exclusive rights to sell RapiGEN Inc. COVID-19 home test kits. These test kits are FDA registered, suitable for point of care testing, no extra equipment is needed, and are easy to use with results in 5-10 minutes.
If the specimen contains IgM antibodies to SARS-CoV-2, a colored line appears in the T line area. The RapiGen home test kit is a lateral flow immunochromatographic assay (LFIA) for the qualitative detection of IgG antibodies to COVID19 in blood, serum or plasma specimens. Watch the sample video of the test here: http://datametrex.com/REVIEW-FOLDER/investor/video.html
The Company’s primary goal is to sell to the current clients for their operations out of Canada, and the Company intends to apply for Health Canada approval with an Interim Order. “These test kits are revolutionary in expediting the process of testing since it cuts out the processing time by a fraction, aiding in an earlier detection of the virus, a more accurate prediction of the positive cases and a decrease of the infection rate.” Said Marshall, CEO of the Company.
"Having seen the urgent need for COVID-19 test kits, Datametrex is doing everything it can to help Canada combat COVID-19 and flatten the curve. In the meantime, having FDA registration under EUA allowing us to help our neighbours to the south and any Canadian company with operations in the US and Europe," says Andrew Ryu, Chairman of the Company.
The Company's ability to fulfill any purchase order for Covid-19 test kits is subject to the availability of inventory at the time of order. Due to the extraordinarily high demand for COVID-19 test, there is volatility in the supply chain and available supply may fluctuate on a daily basis. Datametrex anticipates that it will have little or no upfront costs associated with importing and selling these test kits.
The Company is exploring oportunities with Michigan Economic Development Corporation and Governor's Office of Business and Economic Development in California looking into retail, film, healthcare oportunities. With months into the spread of the COVID-19 in Califoria, widespread diagnostic testing still isn't available. Testing voids, stemming from an overwhelmed supply chain and a disjointed public health system, have hit hardest in California's rural north. The Michigan Department of Health and Human Services, Michigan State Police, and local health departments are looking to expand COVID-19 testing directly to the community. Michigan now is easing coronavirus restrictions with six-part reopening plan that includes testing to ensure the state lowers the chance of a second wave and to further protect Michigan families.
Other related developments from around the markets include:
Laboratory Corp. of America Holdings (NYSE:LH) has created COVID-19 Clinical Trial Connect in the U.S., a site designed to help people access information about how to participate in COVID-19 research. “Through COVID-19 Clinical Trial Connect, our goal is to link people interested in these clinical trials with sponsors so that together we may find solutions for this global pandemic,” said Michael Brooks, president, Clinical Development and Commercialization Solutions, Covance. “There are currently hundreds of COVID-19-related clinical trials underway or planned to begin in the near future, and we recognize that many patients may not know how to go about finding information about a clinical trial. With our COVID-19 Clinical Trial Connect, we’re helping bridge the gap. We are thrilled to have the capability to directly engage with patients who would not otherwise be aware of ongoing trials and give them the opportunity to consider participation, especially at this time.”
Abbott Laboratories (NYSE:ABT) announced an interim analysis of an ongoing multi-site clinical study in urgent care clinics that indicates its ID NOW COVID-19 rapid test is showing strong agreement to lab-based molecular polymerase chain reaction (PCR) instruments. The interim results are demonstrating ID NOW COVID-19 test performance is ≥94.7% in positive agreement (sensitivity) and ≥98.6% negative agreement (specificity) when compared to two different lab-based PCR reference methods. Data from this, as well as two other Abbott-sponsored studies – The Everett Clinic in Washington and an ongoing study of hospitalized and nursing home patients – suggest ID NOW performs best in patients tested earlier post symptom onset, when they are most likely to go for care. In these studies, ID NOW was used as intended with variations in patient populations based on the number of days a patient was tested after first experiencing symptoms. "We're pleased that ID NOW is delivering on what it was designed to do – quickly detect the virus in people who need to know now if they're infected," said Philip Ginsburg, M.D., senior medical director, infectious disease, Rapid Diagnostics, Abbott. "This is great news for people who are experiencing symptoms and want to take action before they infect others, reducing the spread of infection in society."
Quest Diagnostics Inc. (NYSE:DGX) and Home State Health announced a collaboration to increase access to real-time reverse transcription polymerase chain reaction (rRT-PCR) COVID-19 testing in critical areas of need in St. Louis. Through this collaboration, Home State will facilitate the distribution of up to 1,000 Quest COVID-19 test kits each week to Affinia Healthcare and People's Health Centers, Federally Qualified Health Centers (FQHCs). “We are pleased to do our part in making sure our communities, including those who need it most, have access to COVID-19 testing and healthcare services," said Nathan Landsbaum, President and CEO of Home State Health. "FQHCs provide care to thousands of our state's most vulnerable residents, testing is critical to flattening the curve in Missouri."
Vir Biotechnology Inc. (NASDAQ:VIR) announced that is has finalized a process development and manufacturing agreement with Biogen Inc. (Nasdaq: BIIB) based on the letter of intent that the companies announced in March. Under the agreement Biogen will perform process development activities and specified manufacturing and process transfer services to enable commercial supply of Vir’s SARS-CoV-2 monoclonal antibodies. “Biogen’s world-class cell line and process development expertise is a tremendous asset as we work with great urgency to develop our antibody candidates, including employing technology that is designed to maximize the yield of each manufacturing batch produced,” said Michael Kamarck, Ph.D., Chief Technology Officer of Vir. “The willingness of both Vir and Biogen to begin work before the definitive agreement was in place exemplifies our shared commitment to working in unconventional ways in the interest of the public good, and mutual recognition that bringing these therapies to people at the speed and scale that is needed requires the combined resources of multiple collaboration partners and significant manufacturing capacity.”
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