RE: 51k BUY29 May 2020 17:10
from 29th Aril rns
Research and development update
As announced on 15 April 2020, Novacyt has been working to address the current reported global shortfall in extraction reagents required to perform PCR testing through the development of a new extraction technology. This technology avoids the use of magnetic beads commonly used in the extraction process. The development of a new "direct-to-PCR" extraction method, Exsig™ Free, used prior to running the Company's COVID-19 test, will therefore remove the need for scarce reagents used with magnetic beads and significantly reduces the number of extraction steps, allowing faster cycle times, higher throughputs and cost savings. The Directors believe this innovation should facilitate an increase in testing capacity for COVID-19, removing a current bottleneck in sample processing for laboratories. Development is progressing well and Novacyt is on track to launch this new extraction technology in May 2020.