FluroTest Provides System Development Update
Reports Saliva-based Point of Access Test System and Immunoassay for SARS-CoV-2 Detection is Fully Functional
CALGARY, Alberta, Sept. 16, 2021 (GLOBE NEWSWIRE) -- FluroTech LTD. (TSXV: TEST) (OTCQB: FLURF) and wholly owned subsidiary FluroTest Diagnostic Systems ("FluroTest" or The Company), a diagnostics technology leader in high output rapid antigen testing for the detection of SARS-CoV-2 and other pathogens, today provided a progress update on efforts to bring its Pandemic Response Platform to market.
Notable product developments include:
Platform Development: FluroTest’s entire “end-to-end” Pandemic Response Platform is fully operational. This includes saliva collection kits, viral deactivation agents, the robotics automation test processing platform, the software operating the robotics automation platform, the immunoassay required to process saliva samples, and the microplate reader necessary to assess the presence of SARS CoV-2 from processed samples. The system is successfully obtaining readings for the presence of the virus. Three test processing platforms are fully functional and operating at NanoComposix, our immunoassay development partner; Toolbox, our clinical trials partner; as well as in the FluroTest Laboratories in Calgary. The system is processing 96 tests per batch at a time.
Platform Optimization Commencing: The Company is transitioning from platform development to commercial product optimization focused on accuracy of the test as well as throughput of the platform to prepare for the pre-clinical trial stage as well full clinical trials. The team is currently focusing on answering three questions. First, the level of effort required to optimize each step in the highly automated process. Second, the time required to complete each optimization step. Third, the capital required to accomplish this, along with successfully completing pre-clinical trials, clinical trials, and EUA submission to the FDA. This effort is being led by the management team as well as key advisors who are also significant shareholders in the Company.
Notable market developments include:
Vaccination / Weekly Testing Mandate: The Company has been closely reviewing the Biden administration’s new directive from the US Labor Department requiring all businesses with 100 or more employees to ensure their workers are either vaccinated or tested once a week. This policy is estimated to impact close to two-thirds of the American workforce, and businesses found not to be in compliance could face thousands of dollars in fines per employee.
Delta’s Impact and the Emergence of Other Variants: “I remain in regular contact with colleagues at the World Health Organization and other global public health agencies, discussing global seroprevalence levels as well as the impact and evolution of new variants driving mass transmission surges,” said Dr. Joxel Garcia, FluroTest Chief Medical Officer and Former US Assistant Health Secretary. “People who have been infected with or vaccinated against SARS-CoV-2 appear to have reduced risk of serious subsequent infection, but vaccine resistance combined with emerging variants have placed us in an unwinnable race to herd immunity. The concept is an optimistic but hollow soundbite. Science tells us we need to prepare for the long haul.”
Cases Remain High: The Associated Press reports that US cases have climbed back to levels not seen since last winter and CNN is reporting US hospitals are fighting against a sharp upward trend in cases and deaths.
“Elongated development timelines have been frustrating for everyone, but the team’s resolve to deliver a platform that will facilitate widespread point of access and surge-scale SARS-CoV-2 testing is unwavering,” said Bill Phelan, CEO of FluroTest. “The system is working and detecting the virus. Our approach is novel and the global need remains strong as it is now clear to the world that testing will be necessary for our lifetimes. As we continue to develop our end to end solution, it has been notable for us to find that there is no comparable solution available that is focused on the specific problems we are working to solve. The need for our solution in the environments we are focused on remains strong and is not being served. I appreciate the dedication of our team, the guidance provided by our shareholders/advisors, and the commitment by our investors as we develop a durable, long-term testing solution to address this important need.”
