genedrive inks deal with US military contractor for pathogen test
Diagnostics specialist genedrive PLC (LONGDR) said it has inked a deal with a US military contracting specialist that will distribute its BioPlex range, which provides rapid tests for threats from pathogens.
The tie-up with Mountain Horse Solutions helps overcome the “challenging and time consuming” process of contracting with the American government, investors were told.
“We believe that they have both the industry sector knowledge and existing commercial arrangements to increase the exposure of our products and gain new customer opportunities within the various branches and departments of the Department of Defense and US government,” said genedrive chief executive, David Budd.
The company developed the BioPlex system over five years to meet military chemical, biological, radiological, nuclear and explosive standards and it has been approved to the deployment stage. The portable technology is designed to assess threats rapidly.
Broker finnCap said: “Through establishing local representation and contacts in this highly specialised field, genedrive should be able to drive broader uptake of its BioPlex range of products, which were developed to the US Department of Defense (DoD) product specifications.”
The shares opened 3.3% higher at 83p.
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