Biotech start-up Cue Health has actually secured a $13 million agreement from the U.S. Department of Health and Human being Service’s Biomedical Advanced Research and Advancement Authority(BARDA), which will be utilized to speed the advancement and screening of a portable molecular test that can discover the presence of the SARS-CoV-2 novel coronavirus that causes COVID-19.
Cue, which broke cover in 2014 with plans for a connected lab in a box for at-home testing and a $7.5 million financing round, is developing a product that pairs cartridge-like test kits with a compact and linked mini laboratory gadget that can transfer results to a customized app-based health control panel.
The startup received a previous $30 million contract from BARDA in 2018, which was earmarked for the advancement and validation of an over-the-counter diagnostic test for influenza and multiplex breathing pathogens. This pre-existing relationship and work will be useful in helping jump-start the effort on developing COVID-19 screening, the business states.
“We have worked with the BARDA group for the previous two years establishing and checking a 20-minute, molecular influenza test created for home and point-of-care use,” said Cue Health CEO Ayub Khattak in a declaration. “Our linked platform could work as an important tool in identifying the SARS-CoV-2 virus.”
The business likewise raised a $45 million Series B funding round the exact same year, which was created to assist it money the first set of FDA clinical products used to confirm its very first products targeted at offering customer diagnostics.
Cue’s proposed test service would supply results in less than 25 minutes, using samples gathered via nasal swab, with all screening done at point-of-care rather than requiring any round-trip shipping.
It’s far from the only quick, point-of-care test either in development, in screening or already authorized for usage under the FDA’s Emergency Usage Permission, and there’s no specific timeline for this to become available. The fact stays that the current testing gap requires to be resolved essentially by as many services as can be proven practical and reliable– and this work should be useful long-term in addressing comparable international crises and pandemics in the future.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.