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BATM higher as it unveils three new coronavirus testing kits

The three new kits are expected to go on sale at the end of the third quarter of 2020

BATM Advanced Communications Ltd - BATM unveils three new coronavirus testing kits

BATM Advanced Communications Limited (LON:BVC) has launched three new diagnostic kits which it said will “significantly advance” the diagnosis of coronavirus and other respiratory illnesses.

The networking and medical laboratory systems group said one of the new kits is a serologic test, which has been upgraded to measure the quantity of antibodies in the blood rather than just their presence or absence.

WATCH: BATM's Zvi Marom expects 'substantial revenue' from its three new diagnostic kits

The second new kit is an upgraded antigen test to detect spike gene and enable the diagnosis of coronavirus in people with low viral loads, increasing testing accuracy.

The final new kit is a molecular diagnostics test that has been developed to rapidly identify the specific respiratory virus or bacteria in someone presenting with symptoms of, or suspected to have pre-symptomatic respiratory illnesses.

BATM said it expects to begin sale and production of the kits at its Adaltis facility in Italy at the end of the third and start of the fourth quarter of 2020.

“I am delighted to be introducing these three new diagnostic kits that place us at the forefront in the fight against [coronavirus]. Accurate diagnostics is the only tool that exists that can enable a transition towards normality as we continue to live in the presence of the pandemic. We believe that our new kits can provide a vital resource for public health authorities and we are greatly encouraged that we have already received requests to receive these tests immediately once released”, BATM chief executive Zvi Marom said in a statement.

In a note on Wednesday, analysts at house broker Shore Capital said they were “very encouraged” by the new products which they said “highlights the impressive innovation capability within BATM’s Bio-medical franchise and more specifically the diagnostics subsidiary Adaltis”.

“Today’s announcement further demonstrates BATM’s ability to effectively leverage the ongoing investment in its medical business to deliver meaningful and innovative medical solutions during this global infectious disease outbreak”, the broker added.

BATM shares rose 4.5% to 131.1p in mid-morning trading on Wednesday.

--Adds broker comment and share price--

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Price: 116 GBX

LSE:BVC
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Market Cap: £510.72 m
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