CEMI -.08 to 4.28 Chembio has lost some steam from the ebola hysteria. They are going to develop a quick test for ebola. Their DPP tests typically deliver a yes or no verdict in 20 minutes from a drop of blood or saliva. How many tests would be used at airports to make sure passengers don't have ebola??? Plus they are going to incorporate ebola with the already delivered 5 disease kit they developed for the US govt and add Dengue Fever to the kit as well. BTW febrile illness means anything with a high fever.
How long before they have something? This PR from 2013 called for an 8 month program to develop the 5 disease kit. The kit is done and being tested in Africa so the ebola kit should be a 2015 item. Given the hysteria, they should get rapid approval.
MEDFORD, N.Y (May 23, 2013) – Chembio Diagnostics, Inc. (NASDAQ: CEMI) a leader in point-of-care (“POC”) diagnostic tests for infectious diseases, announced today that it has been awarded a cooperative research agreement with a U.S. government agency for up to $750,000 for an eight month development project. The project is to develop rapid POC diagnostic tests for five infectious diseases associated with febrile illness and to multiplex them into one assay. The project also contemplates that the test would be optimized for use with a mobile reader that incorporates cell phone technology to enable the results to be recorded, transmitted and monitored remotely via a cloud system, in real-time.
Javan Esfandiari, Chembio's Senior Vice President of Research & Development and the inventor of DPP®, commented, "We are pleased to be awarded this research project to develop a complex multiplex assay as it builds on our strength in developing multiplex products using our proprietary DPP® technology. Our DPP® technology, combined with the mobile reader being used in the project, will enable real time data collection and monitoring capabilities. As these infectious diseases can all exhibit similar clinical symptoms, a rapid multiplex test that could distinguish them would be very useful, particularly in field conditions, so that correct diagnosis and treatment could be provided on a timely basis.”
About Chembio Diagnostics
Chembio Diagnostics, Inc. develops, manufactures, licenses and markets proprietary rapid diagnostic tests in the growing $10 billion point-of-care testing market. Chembio's two FDA PMA-approved, CLIA-waived, rapid HIV tests are marketed in the U.S. by Alere, Inc. (formerly, Inverness Medical Innovations, Inc.). Chembio markets its HIV STAT-PAK® line of rapid HIV tests internationally to government and donor-funded programs directly and through distributors. Chembio has developed a patented point-of-care test platform technology, the Dual Path Platform (DPP®) technology, which has significant advantages over lateral-flow technologies. This technology is providing Chembio with a significant pipeline of business opportunities for the development and manufacture of new products based on DPP®. Headquartered in Medford, NY, with approximately 170 employees, Chembio is licensed by the U.S. Food and Drug Administration (FDA) as well as the U.S. Department of Agriculture (USDA), and is certified for the global market under the International Standards Organization (ISO) directive 13.485. For more information, please visit: www.chembio.com.
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