Novacyt Share News (NCYT)

(Sharecast News) - Clinical diagnostics specialist Novacyt updated the market on the progress of its near-term Covid-19 research and development programmes on Friday, addressing "rapidly-evolving" testing demands, particularly as SARS-CoV-2 continued to mutate globally.
The AIM-traded firm said it was expanding the 'PathFlow' lateral flow test portfolio with Covid-19 tests, launching a test to detect SARS-CoV-2 IgG antibodies, and developing one to detect and differentiate between SARS-CoV-2 IgG antibodies, with a launch expected in the third quarter.

It was also developing a lateral flow test to detect antigens for SARS-CoV-2, with a launch expected by the end of the second quarter.

The company also said it was expanding its 'genesig' Covid-19 polymerase chain reaction (PCR) portfolio, launching a CE-marked three-gene target PCR test.

Additionally, Novacyt said it was expanding the 'PROmate' Covid-19 PCR portfolio for workflow efficiency in a near-to-patient setting, developing a two-gene target test, with a launch expected in May.

The company said it was also launching a test to identify a key mutation, E484K, found in all current so-called 'variants of concern'.

Finally, the firm announced the expansion of its 'SNPsig' Covid-19 PCR genotyping portfolio to detect SARS-CoV-2 variants, launching a CE-marked 'VariPLEX' assay panel to detect multiple variants, and developing a test to detect a variant originally identified in India, with a launch expected in the week of 26 April.

On the operational front in the UK, Novacyt said it was expanding its UK commercial infrastructure, alongside its inclusion in Public Health England's (PHE) National Framework Agreement.

"The continued development and expansion of our Covid-19 portfolio demonstrates Novacyt's ability to match the rapid evolution of SARS-CoV-2 with real-time bioinformatics surveillance and accelerated product development," said chief executive officer Graham Mullis.

"We remain committed to identifying patient needs and overcoming healthcare challenges today and in the years ahead as we continue to strengthen our position as a leading innovator in diagnostic testing."

Mullis said the company was also "pleased" to be included in the PHE national framework, which would allow PHE and NHS hospitals to purchase its accredited products without the need for direct contract awards.

"We look forward to the opportunity to expand our support of diagnostic testing in the UK through our established infrastructure and building a long-term future in this important market, as well as in international markets as we continue to invest in our direct commercial operations."

At 1611 BST, shares in Novacyt were up 17.78% at 436.38p.