Accelerate Diagnostics Announces Emergency Use Authorization for Covid-19 Antibody Test
Accelerate Diagnostics (NASDAQ: AXDX) is a biotech company that is focused on accelerating diagnostic speeds for bacterial and fungal infections that lead to sepsis, one of the leading causes of death. After the COVID-19 pandemic broke out, it signed a collaboration agreement with a small private biotech, BioCheck, that had developed a fast and automated diagnostic that was capable of testing human serum for the presence of antibodies to the novel coronavirus and returning a result in 30 minutes.
On Tuesday, the two companies announced that the Food and Drug Administration had granted an emergency use authorization (EUA) for the new test. Accelerate Diagnostics has the rights to distribute the testing system in North America, Europe, and the Middle East. BioCheck's test is performed on the Sophonix MS-Fast system, also distributed by Accelerate Diagnostics and given approval under the EUA.
Image source: Accelerate Diagnostics
Source Fool.com
