Autonomous Medical Devices Incorporated (AMDI) has received a National Institutes of Health (NIH) Rapid Acceleration of Diagnostics (RADx) Tech award of up to $5.3m in financing to develop a fast polymerase chain reaction (PCR) system.

PCR is used to amplify a sample of DNA. It usually takes approximately an hour to complete and is commonly used for lab-based disease detection.

AMDI’s point-of-care PCR system is expected to detect up to 32 targets per sample in less than ten minutes. The company is also developing a fast PCR system for the detection of multiple respiratory viruses, including influenza A and B, respiratory syncytial virus (RSV), and SARS-CoV-2.

The use of point-of-care diagnostics has increased following the Covid-19 pandemic. The in vitro diagnostics market is expected to grow to be worth $38.5bn in 2030, as per a GlobalData market model. The infectious disease in vitro diagnostics market subsection is expected to be worth $14.2bn in the same period.

Multiple companies have developed point-of-care testing systems for a variety of purposes. Last month, Roche signed a definitive agreement to acquire LumiraDx’s point-of-care technology. Roche will pay a purchase price of $289m for the acquisition, along with an additional payment of up to $55m to fund operations of the point-of-care technology platform business until the acquisition closes. The deal is expected to close by mid-2024.

In December 2023, Ad Astra Diagnostics received 510(k) clearance from the US Food and Drug Administration (FDA) for its point-of-care QScout rapid-result haematology system. The solution can measure white blood cell counts (WBCs) and neutrophil-to-lymphocyte ratio, as well as differentiate the number and per cent of five types of mature WBCs, along with immature granulocytes.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The current NIH funding is the second one received by the company to develop its PCR point-of-care system. In April 2023, the company received $1.2m in financing from the National Institute of Biomedical Imaging and Bioengineering, part of NIH and responsible for disbursing the RADx Tech award.