Universal Biosensors (ASX:UBI) signs deal on 30-sec Covid-19 test

Company News

by Lauren Evans

Medical diagnostic company Universal Biosensors (ASX:UBI) has agreed to be in an exclusive contract with IQ Science to scale a Covid-19 detection test that gives results within 30 seconds.

The deal will use the company’s flagship electrochemical strip and device technology, designed to provide a result from a small saliva sample. Universal's electrochemical test method also has the potential to measure the relative viral load associated with a patient’s infection status.

The company said it has been working with Dr Shalen Kumar of IQ Science for 6 months, performing due diligence on the aptamer technology and the performance quality of IQ Science products.

“The deal with IQ Science is an important breakthrough for UBI since it will be the first time our platform will use aptamers as a detection technique. Aptamers are a next generation biorecognition element which when combined with our existing technology platform should allow us to detect and measure a large number of targets,” said CEO John Sharman.

“Based on what we know is available in the world today, a Covid-19 test offering an accurate result within 30 seconds of the patient sample will be the first of its kind globally,” he added

Shares in Universal Biosensors (ASX:UBI) are trading 2.8 per cent higher at $0.90. 
Image from: https://www.universalbiosensors.com/

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.