The world desperately needs millions of accurate coronavirus test kits. In fact, with fears of a “second wave” of the virus, demand is likely to increase yet again. All as countries around the world contend with new cases, and hospitalizations. Beijing is seeing another outbreak, restricting travel again. India just registered 2,000 deaths over the last 24 hours. Brazil just reported nearly 35,000 new cases of the coronavirus. In the U.S., we’re just beginning to see flare-ups in Alaska, Arkansas, Florida Kentucky, Mississippi, North Carolina, Oregon, South Carolina, and Utah. Phoenix Mayor Kate Gallego even just admitted, “We opened too much too early and so our hospitals are really struggling.”
“Medical experts are also increasingly of the view that a second wave of COVID-19 infections spreading across Canada is a question of when, not if,” says CTV News.
Even experts at Johns Hopkins University are warning of another severe breakout, especially with recent riots and protests, state reopening, and a good number of people failing to socially distance themselves. "There is a new wave coming in parts of the country," Eric Toner, a senior scholar for Health Security said, as quoted by Bloomberg. "It’s small and it’s distant so far, but it’s coming." As the situation worsens, the world will need millions of test kits creating opportunity for companies such as 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 shared a corporate update that since announcing on April 16, 2020, that it secured the rights to import and sell high-quality South Korean manufactured Nucleic Acid Covid-19 test kits. Datametrex continues supporting companies through facilitating COVID-19 test kits, along with big data AI analytics tools that can help target future outbreaks, potentially source fake news that can be detrimental to the operations, or even visualize the audience that needs the fastest response in these critical times.
The Company has sold approximately 30,000 test kits and 7 PCR machines to several Canadian companies, for an aggregate amount of approximately $1.5 million CAD. Since May 15th, Datametrex has generated $500,000 with the sale of 10,000 test kits and one (1) PCR machine to a large Canadian mining company with operations in West Africa. Since June 8th, Datametrex has sold $810,000 with initial orders comprising of 12,000 test kits and six (6) PCR machines to two Canadian companies.
On June 9th the Company arranged with lab partner Transpharm Canada Inc. (“TCI”) to conduct ongoing testing for a private Quebec metal mining company with an initial order of 2,000 test kits generating approximately $250,000. “With the resurgence of a second wave of COVID-19 in multiple countries, and with a worldwide attempt to reduce lockdown measures to get citizens back to work, the demand for testing will only increase. These rapid antibody-based tests are a vital tool for jumpstarting the economy,” says Marshall Gunter, CEO of the Company. “Datametrex is pleased to facilitate the sale of these test kits globally providing worldwide, the opportunity to use top quality test kits to flatten the curve and get back to the “new normal” safely.”
On May 4th, Todd Shapiro consented to join the Board of Directors of Datametrex. After being a top rated Radio Show host & a brilliant marketing Entrepreneur with over 20 years of experience, he has recently moved on from main stream media to concentrate his efforts on being the CEO of Red Light Holland. Todd currently sits on the Board of Directors for Red Light Holland, JamStacked and Mogul Productions.
On May 19th, Datametrex added President and Dean of the Toronto Institute of Pharmaceutical Technology and Clinical Pharmacologist, Dr. Alexander MacGregor, Ph.D., to the Company's Medical Advisory Board. On June 10th, the Company welcomed Edward Choi, to head up the sales team in Seoul, South Korea. Edward was a Vice President at LOTTE for leading Lotte’s cyber security division.
The Company’s project pipeline is significant on both the COVID-19 test kits and Personal Protective Equipment based on multiple projects in various stages of development across Canada, US, Africa, Asia, Australia and the EU. We are waiting for PO approvals with specified COVID-19 sales and or tender proposal process. The Company will recognize revenue upon sale and shipment of the test kits. The Company will also receive additional revenue streams as we secure new business and continue to provide Ai services, fulfill contracts and or supply agreements to governments, corporate customers upon fulfillment.
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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