Business
Quanterix Receives National Institutes of Health RADx Contract to Advance Antigen Test for SARS-CoV-2 (COVID-19)
$18.2 million in Phase 2 funding will support the development and scale-up of COVID-19 antigen test based on Simoa® technology BILLERICA, Mass.--(BUSINESS
About this update from Quanterix Corporation
[{"type":"text","content":"\n$18.2 million in Phase 2 funding will support the development and scale-up of COVID-19 antigen test based on Simoa® technology\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nQuanterix Corporation (NASDAQ: QTRX), a company digitizing biomarker analysis to advance the science of precision health, today announced that it has entered into a Phase 2 contract with the National Institutes of Health (NIH) through its Rapid Acceleration of Diagnostics (RADx℠) initiative. The contract, which has a total award value of $18.2 million, will accelerate the continued development, scale-up and deployment of a novel SARS-CoV-2 antigen test based on Quanterix’ ultra-sensitive Simoa technology. Preliminary results indicate that the test has the potential to enable detection from a variety of sample types including self-collected capillary blood, saliva and nasal swabs.\n\n“The need for accurate and reliable testing in response to the global COVID-19 pandemic continues, and we are honored to have been selected by the NIH to progress to Phase 2 of this important initiative,” said Kevin Hrusovsky, Chairman, Chief Executive Officer and President, Quanterix and Founder, Powering Precision Health (PPH).\n\nInitial early feasibility of the test was funded in part through a RADx Phase 1 award. The Phase 2 contract supports clinical validation of the test in support of planned emergency use authorization (EUA) submissions with the U.S. Food and Drug Administration. The contract provides funding to expand assay kit manufacturing capacity at the Company’s Billerica, Massachusetts facility and commercial deployment readiness. Utilizing the Company’s high-throughput automated HD-X instrument platform, Quanterix intends to make the test available through a network of centralized third-party labs. Contract funding is subject to achievement of pre-defined milestones and the contract period runs through September 2021.\n\n“We believe our technology, combined with the support of the NIH and the strength of our partnerships across the Powering Precision Health ecosystem, will help support the accelerated development and scaling of essential testing necessary to help win the fight against COVID-19,” continued Hrusovsky. “These investments support and complement advances we are making with unique and highly sensitive assay capabilities and technology in neurology, oncolog...