FluroTech LTD. (TSXV: TEST), also known as FluroTest, announced today that it signed a memorandum of understanding May 6, 2021 with SNC-Lavalin (TSX: SNC). The partnership is aimed at providing support to FluroTest’s high-volume COVID-19 rapid antigen test program, with the goal of SNC supporting pre-deployment, commercialization, and operations of the testing platform.
Under the terms of the agreement, SNC-Lavalin will provide support to the program’s regulatory submission, grant application, business development, robotics/skid design & assembly, room design/build, site installation, commissioning & validation, and program & project management, with the ultimate goal of bringing the platform to market. On the other hand, FluroTest will provide necessary technical and information support to the partnership.
“Partnering with an established company like SNC-Lavalin will help us expedite commercialization, access vast supply chain expertise, and help establish the FluroTest Pandemic Defense Platform,” said Bill Phelan, CEO of FluroTest.
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The agreement is effective for one year and does not stipulate any financial considerations.
FluroTest is currently conducting clinical trials to bring to market its high-volume saliva-based COVID-19 rapid antigen testing system. Upon the success of the trials, the firm intends to apply for emergency use authorization from the US FDA, and for an interim order authorization from Health Canada.
FluroTech last traded at $0.245 on the TSX Venture and SNC-Lavalin last traded at $27.71 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
