News of the deal caused shares in CombiMatrix to rise 5.42 percent, or $.12, to $2.34 in mid-afternoon trading.
The current validated protocol for verifying a pathogenic influenza strain requires performing PCR to determine the existence of matrix protein gene. If matrix protein exists, researchers perform a successive PCR for hemagglutinin to determine if the H5 gene is also present.
Verification and further typing after a positive result requires the sample to be cultured and sequenced, which can take roughly on week or more, Combi said. The company said its monitoring system has shown "in laboratory tests" that it can confirm and type the infection in four hours.
"Our goal in this study is to demonstrate that our system produces quick virus typing results in the diagnostic laboratory environment that correlate to the standard protocol," Combi said in a statement.