The firm expects to complete testing by early 2021 and has already started to build the submission pack for the Food and Drugs Administration.
It is planning to bring its products to market through a combination of distribution and supply agreements, to be negotiated while regulatory testing is underway so they can be commercialised as soon as they get approved.
Elsewhere, Braveheart Investment Group PLC (LON:BRH) climbed 34% to 21.5p after announcing its investee company Paraytec is aiming to prove the concept of a coronavirus test in partnership with the University of Sheffield in early October.
The construction of a viral mimic of the same size as COVID-19 has been completed, as has work on a CAPTURE module, a specialised surface coated with a macromolecule to which binds the virus very tightly. This virus-binding molecule is a COVID-19 DNA aptamer that has been supplied to Paraytec.
“Our approach, in which viral attachment to affinity macromolecules may be imaged directly using a highly sensitive detection system, has the potential both to undertake many tests in parallel, as well as delivering results in minutes, all without the need for trained health professionals for their operation,” said Professor Carl Smythe from Sheffield University.
Published at Wed, 05 Aug 2020 08:22:00 +0000-RUA Life Sciences finalises design of polymer-based vascular products