Novacyt S.A. Launch of mobile processing laboratories (5411S)
March 17 2021 - 2:11AM
UK Regulatory
TIDMNCYT
RNS Number : 5411S
Novacyt S.A.
17 March 2021
Novacyt S.A.
("Novacyt", the "Company" or the "Group")
Launch of m obile processing l aboratories
to detect COVID-19
Paris, France and Camberley, UK - 17 March 2021 - Novacyt
(EURONEXT GROWTH: ALNOV; AIM: NCYT), an international specialist in
clinical diagnostics, announces the expansion of its VersaLab(TM)
service with the launch of mobile processing laboratories (MPL) to
provide rapid turnaround polymerase chain reaction (PCR) testing
on-site. Testing will be performed using mid-nose nasal swabs,
which were found to be effective and well tolerated compared to the
more invasive nasopharyngeal swabs in the interim review of Queen
Mary University of London's clinical trial in care homes, as
announced by the Company on 16 November 2020.
VersaLab(TM) was launched in December 2020 to support private
sector testing of infectious diseases, initially focused on
COVID-19. This has enabled Novacyt to identify a growing number of
UK and international mobile testing opportunities across the
private sector.
Novacyt's MPLs will be fully equipped with its PROmate(TM) assay
and q16 PCR instruments. PROmate(TM) is the only direct-to-PCR
COVID-19 assay approved by the Department of Health and Social
Care's Technology Validation Group. The PROmate(TM) workflow, which
includes a viral inactivation buffer, means the MPLs do not require
a category 2 laboratory to handle the live virus. As a result, the
cost of testing is reduced, as well as the risks associated with
handling the live virus in a mobile testing unit. This workflow
allows Novacyt to provide rapid results to patients in under 80
minutes. Novacyt is one of the first companies to offer mobile
testing units to deliver same day, on-site results using the gold
standard sensitivity and specificity of PCR technology.
With an active pipeline of opportunities, Novacyt believes the
addition of VersaLab(TM) MPLs could offer new long-term revenue
growth opportunities as the private sector begins to take control
of COVID-19 testing to keep businesses open and running
efficiently. Novacyt is trialling the MPLs with several private
testing partners (approved customers of the government
"test-to-release" scheme) at various sites in the UK to support
international travel.
Each MPL is able to process up to 900 COVID-19 samples per day,
depending on customer needs. This throughput model supports
multiple use cases such as on-site testing at workplaces, schools,
sporting and music events.
Novacyt is also in the process of validating the use of its
SNPsig(R) portfolio with PROmate(TM) to enable a mobile workflow
solution that can detect the original SARS-CoV-2 strain and
identify variants of concern to support healthcare providers
rapidly identify the outbreak of surge infections in localised
areas.
Graham Mullis, Chief Executive Officer of Novacyt,
commented:
"Throughout the COVID-19 pandemic, Novacyt has focused on
innovation to ensure we adapt in line with a rapidly evolving
market. The roll-out of our VersaLab(TM) MPL units is an exciting
development for Novacyt, as we continue to bring PCR technology
outside of the central laboratory and closer to patients. We
believe this option provides companies and communities with
reliable and fast turnaround results to deal with localised surge
infections or for routine localised mass testing. The need for
localised community testing and monitoring of COVID-19 infections
looks set to continue over the next 12 months and it is our view
that much of this testing could be undertaken by the private
sector. Novacyt is therefore well-placed to support this growth
opportunity."
-Ends-
Contacts
Novacyt SA
Graham Mullis, Chief Executive Officer
James McCarthy, Chief Financial Officer
+44 (0)1276 600081
SP Angel Corporate Finance LLP (Nominated Adviser and
Broker)
Matthew Johnson / Charlie Bouverat (Corporate Finance)
Vadim Alexandre / Rob Rees (Corporate Broking)
+44 (0)20 3470 0470
Numis Securities Limited (Joint Broker)
Freddie Barnfield / James Black
+44 (0)20 7260 1000
Allegra Finance (French Listing Sponsor)
Rémi Durgetto / Yannick Petit
+33 (1) 42 22 10 10
r.durgetto@allegrafinance.com ; y.petit@allegrafinance.com
FTI Consulting (International)
Victoria Foster Mitchell / Alex Shaw / Mary Whittow
+44 (0)20 3727 1000
victoria.fostermitchell@fticonsulting.com /
Alex.Shaw@fticonsulting.com/ mary.whittow@fticonsulting.com /
Novacyt.group@fticonsulting.com
FTI Consulting (France)
Arnaud de Cheffontaines
+33 (0)147 03 69 48
arnaud.decheffontaines@fticonsulting.com
About Novacyt Group
The Novacyt Group is an international diagnostics business
generating an increasing portfolio of in vitro and molecular
diagnostic tests. Its core strengths lie in diagnostics product
development, commercialisation, contract design and manufacturing.
The Company's lead business units comprise of Primerdesign and
Lab21 Products, supplying an extensive range of high-quality assays
and reagents worldwide. The Group directly serves microbiology,
haematology and serology markets as do its global partners, which
include major corporates.
For more information please refer to the website:
www.novacyt.com
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