genedrive flying high after sales distribution boost

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Genedrive PLC (LON:GDR) jumped 21% to 67.5p as its coronavirus (COVID-19) testing technology got a sales distribution boost.

The kits will be sold in the US and Europe by genedrive partner Beckman Coulter Life Sciences, taking the pair’s previous collaboration agreement to the “next stage”.

The company said its 96 SARS-CoV-2 kit is ideally suited for use on Beckman’s high throughput robotic Biomek i7 instrument.

Tern PLC (LON:TERN) flew 5.6% higher to 8.55p after it announced its portfolio company, Wyld Networks, had successfully raised £750,000 in an equity fundraising.

Tern ploughed £150,000 into the funding round, taking its stake to 78.7%, with the rest being coughed up by the same third-party investor that subscribed for £400,000 of convertible loan notes in Wyld Networks back in May of last year.

Based on the price at which the shares were lobbed out this time around, the book valuation of Tern’s holding in Wyld Networks has increased from to £4.1mln from £1.2m previously.

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