Soros and Gates back buyout of UK diagnostic technology group21 Jul 2021 02:19
This is from the Financial Times a few days ago, apologies if it has already been reported and shared here. Disappointed they did not put in an offer for NCYT. However, if they can knock out a Covid test for 1 US dollar, then that is scary for us investors here?
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https://www.ft.com/content/6cec5334-265b-4de7-b176-9d854cce4d86
“Mologic worked with a Senegalese research institute to test a 10-minute Covid-19 diagnostic, aiming to eventually make it for $1. Its sister company Global Access Diagnostics, also part of the buyout, received millions of pounds in funding from the UK to expand manufacturing of Covid-19 lateral flow tests.
The company’s Covid-19 tests have received a CE certification, so they can be deployed by a professional in Europe, but are not yet adopted by Public Health England or approved in the US.
Covid-19 has shown how lateral flow diagnostics could be used far beyond pregnancy tests, in an inexpensive way to keep track of an infectious disease.
Dan Wattendorf, director of innovative technology solutions at the Gates Foundation, said the pandemic had been a “clarion call” about the importance of access to diagnostics. He said that if Mologic’s social enterprise model is successful, its use could be explored in other fields. “