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The Warsaw Stock Exchange has established 17 March as the first day of trading of Genomtec SA shares on the NewConnect market. Genomtec has also completed the development of a third-generation COVID-19 test. The solution still awaits clinical testing.
Genomtec will debut on NewConnect on 17 March
Last year Genomtec completed its initial public offer of J series shares. The offer met with a very high level of interest from investors who appreciated the company’s strategy, including the plan to develop its flagship solution – the Genomtec ID mobile diagnostic platform. Investors declared their interest in shares for an amount in excess of PLN 50m (€10.9m), several times the issue value. The company successfully placed all offered shares at the maximum price of PLN 11 (€2.4) per share and raised more than PLN 8m (€1.7m) from the issue to implement its development strategy. Innovation on the part of Genomtec projects is also confirmed by grant competitions. The company has, so far, obtained more than PLN 17m (€3.7m) in the form of grants and subsidies from a number of institutions, including NCBiR (the National Centre for Research and Development) and PARP (the Polish Agency for Enterprise Development).
It is worth recalling that in November 2020, Genomtec has commercially launched a two-gene test for SARS-CoV-2 using RT-LAMP technology. At this point, the company has also completed research and development of the third-generation test. The company now plans to conduct an inter-centre clinical trial of this solution, Miron Tokarski told ISBnews.
More about Genomtec’s flagship solution
The flagship solution, Genomtec, is currently working on is the mobile diagnostic system Genomtec ID, which operates on the basis of a microfluidic process and its proprietary, patented technology SNAAT® – based on the technique of the isothermal amplification of nucleic acids, i.e. the multiplication of genetic material by means of a non-contact system of heating by photons. The device will allow precise and instant genetic diagnostic examinations, which will not have to be carried out in a laboratory by qualified personnel.
The system’s abilities will include tests to determine the cause of respiratory infections or sexually transmitted diseases in as little as 15 minutes. Genomtec ID will be designed for diagnostics at the point of patient contact: including doctors’ surgeries, emergency departments or even pharmacies.
Photo and information: genomtec.com