Datametrex Acquires Rights To Sell COVID-19 Home Test Kit

Datametrex AI (TSXV: DM) this morning had significant news in that it has secured the rights to sell a home test kit, known as RapiGEN Inc, for that of COVID-19. The test kits are FDA registered and are suitable for “point of care testing”, providing results within five to ten minutes of administering the test.

Datametrex AI's Logo

Datametrex has obtained the rights to sell the home test kits on a non-exclusive basis, with the primary goal of selling to current clients for their operations out of Canada. Further, Datametrex intends to apply to Health Canada for approval of the testing kit with an interim order.

The tests work by searching for the qualitative detection of what is referred to IgG antibodies of COVID-19 in blood, serum or plasma specimens, with the method being referred to as a “lateral flow immunochromatographic assay. A sample of the hone test kit can be viewed in the video below.

The company is currently exploring opportunities for the distribution of the home test kits with numerous agencies, including the Michican Economic Development Corporation and the Governor’s office of Business and Economic Development in California. Both organizations are looking to expand testing within their respective states, with the latter focused on retail, film and healthcare opportunities. Widespread testing has currently been limited due to intense demand.

As always, the availability of inventory at the time of order may limit Datametrex’s ability to fulfill any purchase order for the COVID-19 test kits, given the volatility in current supply chains. The company expects little or no upfront costs associated with the selling of the kits.

Datametrex AI last traded at $0.12 on the TSX Venture.


FULL DISCLOSURE: DataMetrex AI Limited is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover DataMetrex AI Limited on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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