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1776club

04/05/22 10:13 PM

#13427 RE: dia76ca #13426

Yes, the VIREX technology has a great potential that has to be proven and although SORRENTO has dropped the ball several times, they are not stupid and know this field well. However, SORRENTO has bought controlling interest in Fortune Bio and the reason to me is still unclear. I am keeping my fingers crossed but their reason for buying could be for many reasons
1) Manufacturing of a high volume of COVISTIX 10 to 30 million per month. This is my first choice, I figure at least 15 million in the first Q but that may not be the reality.
2) They bought in to monitor and control the quality of COVISTIX's going to Mexico as their Vaccine project is worth many billions and a screw up with the tests would weigh on the belief that SORRENTO can deliver a vaccine facility for Mexico.
3) VIREX technology needs test strips for the meters and Fortune Bio can make them in China and SORRENTO can build manufacturing where they need it base on FB's process whether it is in the USA or elsewhere. Who will build the meter for them... lots of manufacturers are available. Many of the companies approved tests use Smart phones or their own device such as Detect, Inc., Requires a Detect Hub (sold separately).
We don't know, but we will, if no orders came from Mexico after the Jan 24, 2022 10 million piece order from SORRENTO MEXICO. How they handle the sales and the breakdown of the pie is unknown also.

https://www.fda.gov/medical-devices/coronavirus-covid-19-and-medical-devices/home-otc-covid-19-diagnostic-tests