Genedrive (LON:GDR) (I hold)

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As a holder of Novacyt, (I’m not ashamed to admit I actually bought in around 310p, then took a 10% loss before rebuying at around 375p & 425p). I have now been looking for other Biotech companies that may also stand to benefit from the Global Pandemic response. Having come across Genedrive (LON:GDR), I would be interested in the community’s viewpoint so have had a go at a synopsis for all.

Genedrive Plc is a United Kingdom-based holding company engaged in molecular diagnostics business. The Company provides a molecular diagnostics platform for the diagnosis of infectious diseases and for use in patient stratification (genotyping), pathogen detection and other indications. Its geographical segments include the United Kingdom, Europe, the United States of America and Asia. Genedrive is a small polymerase chain reaction (PCR) platform, which enables nucleic acid amplification and detection from various sample types, including plasma, sputum and buccal swabs.

The Company recently announced the availability of a high throughput SARS-CoV-2 assay and the development of a Genedrive® Point of Care version of the assay, both based on Genedrive® PCR chemistry.

This section above shows the company has all the tools needed to compete in the Covid testing space.

Recent announcement stated that the ‘company says its Genedrive 96 COVID-19 test kit has received approval from the South African Health Products Regulatory Authority’ following regulatory submission in early June 2020.

This could be an important driver as this market appears to be strong for the company: “Since the original evaluation, genedrive has expanded the number of PCR platforms and RNA isolation kit providers which are validated for the Company's Kit. This is important for markets such as South Africa where high testing volumes are supported by the prevalence of automated/robotic RNA extraction instruments, and the variety of testing platforms is diverse owing to a split between public and private testing facilities.”

David Budd, Chief Executive Officer of genedrive plc, said "This is an important milestone in the commercialisation of our COVID-19 Kit in the region. South Africa is a key territory for our distributors and this approval will now provide an acceleration of commercial sales activity in the area."

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