Sydney, Australia, June 9, 2020 - (ABN Newswire) - iQX Limited (iQX Ltd) (NSX:IQX) would like to announce a collaboration agreement between the Wyss Institute for Biologically Inspired Engineering, Harvard University, and Life Science Biosensor Diagnostics Pty Ltd (LSBD), in which iQX Ltd holds a 19% equity position.
The purpose of the agreement is to conduct a pilot study to develop a diagnostic test using the Biosensor Platform for the detection of SARS-CoV-2 antibodies in a person, indicating disease onset or potential level of immunity developed to the COVID-19 disease.
A platform technology, the Biosensor is a printable organic transistor 'strip' designed to put the power of accurate and timely diagnosis in the hands of patients and their primary health practitioners at point of care. The Biosensor Platform is currently being developed to test for more than 130 indications, including glucose in saliva for type 1 and type 2 diabetes management, tumour markers, allergens, hormones and communicable diseases.
The scope of the pilot study is to integrate the Biosensor Platform with an assay system already developed at the Wyss Institute for the detection of antibodies (IgM and/or IgG) against SARS-CoV-2. A positive detection of these specific IgM and/or IgG antibodies in a person indicates that they have been exposed to the SARS-CoV-2 virus, and that they may be currently infected with, or previously had been infected with, the COVID-19 disease. It would also indicate that the person may have been immunised against the COVID-19 disease, at a time when a vaccine is developed and approved.
"This is an exciting development for LSBD and its licensee companies, GBS Inc. and BioSensX (North America) Inc., as we embark on a landmark collaboration with the Wyss Institute at Harvard University for a SARS-CoV-2 antibody testforthe COVID-19 disease," said Dr George Syrmalis, Group CEO and Chairman of The iQ Group Global.
"Dependent on the outcomes of this research, we may be in a position to provide the global healthcare system with a point-of-care test (POCT) capable of detecting SARS-CoV-2 antibodies, with the ability to produce results in minutes.
"If the pilot study data is positive, then the test has the potential to meet FDA and other National and Supranational regulatory criteria to be used as a point-of-care screening and diagnostic tool, as well as a pre-vaccination screening test for when a COVID-19 vaccine is made available. This project could not have come at more crucial time as the pandemic continues to take its toll on people all over the world," Dr Syrmalis said.
Life Science Biosensor Diagnostics Pty Ltd (LSBD) is a fully owned subsidiary company of The iQ Group Global Ltd and iQX Ltd.
About the Wyss Institute for Biologically Inspired Engineering
The Wyss Institute for Biologically Inspired Engineering is a cross-disciplinary research institute at Harvard University which focuses on developing new bioinspired materials and devices for applications in healthcare, manufacturing, robotics, energy, and sustainable architecture. Website: wyss.harvard.edu
About The iQ Group Global
The iQ Group Global is a group of companies that find, fund and develop bioscience discoveries to create lifechanging medical innovations. Recognised by The Australian Financial Review in the top five Most Innovative Healthcare Companies in 2019, The iQ Group Global's flagship innovation is the Saliva Glucose Biosensor; the first non-invasive replacement for finger-prick blood glucose testing for diabetes management. Visit our website: theiqgroupglobal.com
About IQX Limited:
A member of The iQ Group Global, iQX Limited is an investment funds management company specialising in the bioscience sector that is committed to eradicating disease through capital investment.
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