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Novacyt Shares Edge Higher On Mobile Processing Laboratories Launch

Updated: 24 Mar 2021

Novacyt (LON: NCYT) has expanded its VersaLab service with the launch of mobile processing laboratories (MPL) to provide rapid turnaround PCR testing on-site, the company said on Wednesday.

Novacyt’s London AIM-listed shares are up 1.02%, trading at 702p following the news.

NCYT Novacyt stock chart

Testing at the sites will be performed using mid-nose nasal swabs, which were effective and well-tolerated compared to the more invasive nasopharyngeal swabs.

VersaLab was launched in December 2020 to support private sector infectious disease testing, with an initial focus on COVID-19. Novacyt has been able to identify a growing number of UK and international mobile testing opportunities in the private sector as a result.

The company’s mobile testing laboratories will be fully equipped with its PROmate assay and q16 PCR instruments.

“The PROmate™ workflow, which includes a viral inactivation buffer, means the MPLs do not require a category 2 laboratory to handle the live virus. As a result, the cost of testing is reduced, as well as the risks associated with handling the live virus in a mobile testing unit,” said Novacyt.

The company will be able to provide a test result in 80 minutes.

Novacyt is testing mobile processing labs at various UK locations with several private testing partners to support international travel. Each MPL can process 900 Covid-19 samples per day.

“The roll-out of our VersaLab™ MPL units is an exciting development for Novacyt, as we continue to bring PCR technology outside of the central laboratory and closer to patients,” commented Graham Mullis, Novacyt’s CEO.

“We believe this option provides companies and communities with reliable and fast turnaround results to deal with localised surge infections or for routine localised mass testing,” added Mullis.

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