Biolidics lands 5-year licensing deal to develop COVID-19 test kits
Category: #health  By Nikita Chaurasia  Date: 2020-07-16
  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn

Biolidics lands 5-year licensing deal to develop COVID-19 test kits

Biolidics, a precision medicine medical technology company, headquartered in Singapore, on July 9 inked an agreement with the commercialization arm of the Agency for Science, Technology and Research (A*Star), Accelerate Technologies, to use the agency’s COVID-19 viral spike detection technology, cites sources.

Reportedly, under the agreement, Accelerate Technologies is granting non-exclusive worldwide rights to Biolidics for using the technology for diagnostic application and to advance it and market new serology tests that utilize the technology.

Previously, in April, the company obtained authorization for the use of test kits in the Philippines, European Union, and US, and also partnered with the scandal-hit Aytu for distribution of its kits. In the following month, the company appointed Clearbridge Health as a distributor in the Philippines, Myanmar, Indonesia, and Vietnam.

In June, the company reportedly called off the sale of its test kits in the US due to high competition. At the same time, it also announced development of a new test kit in collaboration with Aytu.

With so many variables, the Catalisted-firm is under the close watch of SGX (The Singapore Exchange). Biolidics was inquired on its late announcement as the deal was closed few days ago, whether its sponsor was aware and consulted, and was asked to disclose the advice the sponsor gave as well as its trading halt & announcement timings, cites sources with the knowledge of the matter.

Prior to the agreement with Accelerate Technologies, earlier this month, the company declared its five-year agreement with China's LC-Bio for developing cancer-diagnostic solutions.

The company’s share spiked by 29.3 percent on Monday before its trading halt at 12:19 pm. The A*Star announcement was made at 10:46 pm the following day, before lifting the halt on Wednesday morning before the market’s opening bell.

 

Source: https://www.straitstimes.com/business/companies-markets/biolidics-signs-5-year-licence-with-astar-arm-eyes-development-of-new

  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn


About Author

Nikita Chaurasia     twitter

Nikita Chaurasia

Having always been daft at wordplay, Nikita Chaurasia, post the completion of post-graduation, commenced her journey into the content generation cosmos. Endowed with a professional MBA degree in Advertising and Public Relations, Nikita strives to integrate her creativ...

Read More..

More News By Nikita Chaurasia

Moderna failed to meet FDA’s requirements for COVID-19 booster vaccines

Moderna failed to meet FDA’s requirements for COVID-19 booster vaccines

By Nikita Chaurasia

Scientists from the U.S. Food and Drug Administration (FDA) claimed that Moderna did not meet all the requirements to support the use of COVID-19 booster shots. This is because the first two shots already showed a strong efficacy rate. Documents rel...

Canada’s healthcare sector likely to brace for looming staff shortages

Canada’s healthcare sector likely to brace for looming staff shortages

By Nikita Chaurasia

According to reliable sources, Canada’s overworked healthcare sector is now bracing for upcoming staff shortages and potential layoffs, as the country accelerates its vaccination drive before the deadline. The development comes at a time when l...

Rocket Lab, Kineis sign multi-launch contract for IoT constellation

Rocket Lab, Kineis sign multi-launch contract for IoT constellation

By Nikita Chaurasia

The space industry is booming as new companies with fresh ideas for space-based applications take advantage of declining launch and satellite costs. Out of those firms, Rocket Lab USA bagged a contract to launch 25 satellites on five missions exclusi...