Business
Adial Pharmaceuticals Announces Sale of 10,000 COVID-19 Antibody Rapid Test Devices
CHARLOTTESVILLE, VA / ACCESSWIRE / September 30, 2020 / Adial Pharmaceuticals, Inc. (NASDAQ:ADIL; ADILW) ("Adial"), a clinical-stage biopharmaceutical company
About this update from Adial Pharmaceuticals, Inc
[{"type":"text","content":"CHARLOTTESVILLE, VA / ACCESSWIRE / September 30, 2020 / Adial Pharmaceuticals, Inc. (NASDAQ:ADIL; ADILW) (\"Adial\"), a clinical-stage biopharmaceutical company focused on the development of treatments for addiction, today announced that it has received an initial firm order for the purchase of 10,000 Assure/FaStep® COVID-19 IgG/IgM Rapid Test Devices from a California-based technology corporation. As reported yesterday, the FaStep COVID-19 IgG/IgM Rapid Test Device is the first serology (antibody) point-of-care (POC) test for COVID-19 using fingerstick blood samples approved by the U.S. Food and Drug Administration (FDA), which has issued an emergency use authorization (EUA) for the FaStep COVID-19 IgG/IgM Rapid Test Device. See the FDA news release here.\"We are pleased to report that that among other orders that we have received for the FaStep COVID-19 IgG/IgM Rapid Test Device, yesterday we received an initial purchase order for 10,000 FaStep COVID-19 IgG/IgM Rapid Test Devices from a California-based technology company,\" said William Stilley, Chief Executive Officer of Adial Pharmaceuticals. \"The availability of convenient, rapid coronavirus testing is critical to adequately assess the virus's prevalence to limit outbreaks as the U.S. continues the reopening process and as we prepare as a nation for a possible second-wave of infections. The issuance of the EUA for the first point-of-care antibody test for COVID-19 in the U.S. using fingerstick blood samples is an important advancement, which we believe will lead to significant demand for the FaStep COVID-19 IgG/IgM Rapid Test Device as a fast, convenient and reliable method for COVID-19 serology testing.\"The FaStep COVID-19 IgG/IgM Rapid Test Devices distributed by Adial are lateral flow assay, 10-minute, ‘instant' point-of-care test devices for the qualitative detection of lgG and lgM antibodies specific to SARS-CoV-2 virus in fingerstick whole blood, venous whole blood, serum, and plasma. During testing, the specimen reacts with antigen coated particles in the test cassette after droplets of blood from the subject are placed on the cassette's coated membrane. Adial has now opened multiple sales channels for the sale of the FaStep COVID-19 IgG/IgM Rapid Test Devices including The iRemedy Healthcare Companies, Inc. (iRemedy) network and ecommerce platform. See here to pu...