COVID Fighter Joins Up with Partner to Produce Antibody Tests

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Wednesday, August 12, 2020

It’s a sign of the times. Companies involved in the fight against the dreaded coronavirus are having their say these days, particularly when they join forces with other companies. 

In the United States, health-care stocks improved 2%, while in Canada, the sector dipped 0.3%. 

How, people wonder, can jurisdictions have accurate readings of how prevalent the virus is without adequate testing?  

It was in this spirit Wednesday that Texas-based Quantum Materials Corp. (OTC: QTMM) told investors its wholly-owned QDX HealthID subsidiary has signed a  distribution agreement with Innova Medical Group Inc. (IMG), for the inclusion of IMG’s rapid-result antigen and antibody tests, and PCR swab tests, in the QDX™ HealthID ecosystem of COVID-19 testing solutions.

The pact means the QDX HealthID test kit ecosystem now includes six out of 12 rapid-result antibody tests currently granted the Food & Drug Administration’s (FDA) Emergency Use Authorization. 

These test kits, and same-day antigen tests may be performed at point-of-care facilities and best support the most effective COVID-19 testing strategies that eliminate delays in receiving test results, which often render testing and tracking efforts completely ineffective.

IMG claims to be bringing the most innovative medical technologies to the global market to benefit as many people as possible. 

QTMM shares rocketed 18.3% to 2.46 cents late Wednesday, on volume of three million shares. 

On another health-related topic, that of bladder cancer, Toronto-based Theralase® Technologies Inc. (TSX-Venture:TLT) announced today that three out of four of its Canadian clinical study sites have re-commenced new patient enrollment and treatment in the Company's Phase II Non-Muscle Invasive Bladder Cancer clinical study.

Four of the patients previously treated are awaiting second treatment subject to the clinical study site operating room availability. Another is undergoing additional assessments prior to proceeding to second treatment.

TLT is in advanced discussions to launch a number of U.S. based clinical study sites, subject to the United States economy recovering from the COVID-19 pandemic.

The U.S.-based Trial Management Organization could potentially launch four clinical study sites in 4Q2020 and commence Study II patient enrollment and treatment in 1Q2021.

TLT shares added two cents, or 12.5%, to 18 cents, on volume of 820,000 shares. 

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