BATM Advanced Communications Limited (LON:BVC) shares rose on Thursday as it revealed its Bio-Medical division has successfully developed a new diagnostics kit to detect the coronavirus.
The kit has undergone testing by several central laboratories and hospitals that have now verified its ability to diagnose COVID-19, added the medical device maker.
Production of the kit has already started and work is underway to adapt it for large scale production.
The kit, which supports all the Centers for Disease Control and Prevention (CDC) recommendations, has already received interest from customers in several countries
Zvi Marom, BATM’s chief executive, said: "We believe that the strategy we adopted in our Bio-Medical division is proving to be correct, especially in light of the current COVID-19 outbreak. We are able now to quickly provide diagnostic kits for any new pathogen that appears.
"Furthermore, we have already received extremely positive feedback and significant interest from several leading medical institutions that have started testing the first panel of Ador's NATlab solution and adding COVID-19 will greatly strengthen its appeal and value."
In early trade, BATM shares were 8.1% higher at 44.20p.
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