Prenetics’s wholly owned UK entity DNAFit Life Sciences has acquired social venture company Oxsed to accelerate efforts of fighting Covid-19.
Based on research from Oxford University, Oxsed has developed a rapid Covid-19 testing platform.
With this deal, DNAFit and Prenetics have gained exclusive global rights to Oxsed technology.
Named Oxsed RaViD Direct SARS-CoV-2 Test, it is a rapid diagnostic assay for the in vitro qualitative detection of SARS-CoV-2.
Funds received through the deal and access to Prenetics global network of resources will help Oxsed to provide rapid Covid-19 testing around the world.
According to the deal, Oxsed will continue to focus on ensuring access and availability of the test at a reasonable cost to low and middle-income countries.
Prenetics co-founder and group CEO Danny Yeung said: “We are immensely proud to collaborate with Oxford University and Oxsed. This is truly a game-changer and we aim to make the technology available to millions of people globally.
“Rapid, accurate, and frequent testing is one of our most important interventions to prevent large outbreaks and for the global economy.”
Based on reverse transcription, loop-mediated isothermal amplification (RT-LAMP) technology, the test is used to detect SARS-CoV-2 RNA.
The scalable and low-cost Covid-19 test detects the virus with great sensitivity and specificity and can be performed anywhere with results obtained in 15-30 minutes.
The testing kit has received CE mark in the EU and MHRA in the UK. Currently, it is used at London Heathrow for testing pre-departure passengers where Prenetics and Collinson / Swissport established a rapid testing facility.
In Hong Kong, Prenetics has set up a semi-automated laboratory and is using the Oxsed test as part of tests for arriving passengers.