Business
Business Update and SARS-COV-2 tests development
Business Update and SARS-COV-2 tests development.
About this update from Genedrive Plc
[{"type":"text","content":"\n \n \n RNS Number : 4680H\n Genedrive PLC\n 25 March 2020\n \n \n \n \n genedrive plc\n \n \n (\"genedrive\" or the \"Company\")\n \n \n Business Update and\n Rapid Development of Coronavirus (SARS-COV-2) tests\n \n Plan for high throughput SARS-COV-2 test to be available in 8 weeks\n \n \n \n \n genedrive plc (AIM: GDR), the near patient molecular diagnostics company, provides an update on trading in the current market conditions and a redirection in assay development focus to include Coronavirus (SARS-COV-2).\n \n \n \n \n \n Business Update\n \n \n \n \n \n On Market - Pathogen Detection (DoD)\n \n \n The Company has now received confirmation that a long-term supply contract with the US Department of Defense (\"DoD\") will be agreed that will enable ordering from Autumn 2020 onwards for a period of three years. While final unit numbers and associated assays will be subject to confirmation and allocation of funding in the US Government's new fiscal year (October), the DoD has advised the Company to expect a contract to cover the fielding of around 500 Genedrive® units and associated assays over the time period. \n \n \n \n \n On Market - HCV Test\n \n \n \n \n \n The Genedrive® HCV ID kit has started to gain commercial traction since the start of the calendar year. The full year sales to June 2020 had been predicated on growing sales across various end markets, in part supported by gaining WHO qualified status, during the second half of the Company's financial year. Unsurprisingly, with countries increasingly in lock-down and healthcare systems focused on coronavirus testing and treatment, it is now impossible to predict the duration, speed, and impact of the pandemic on the HCV business. The Company continues to support its partners with test supply and technical support, and the product remains under review by the WHO.\n \n \n \n \n \n On Market - Antibiotic Induced Hearing Loss (AIHL)\n \n \n \n \n \n The implementation trial of the Genedrive®MT-RNR1 ID Kit has progressed in Manchester and Liverpool Hospitals over the past few months. It has been rewarding to see the positive impact of this new test on patients. The Company cannot at this time though predict continuity at the same pace as NHS resources are understandably progressively diverted to address COV...