In an SEC filing, the firm said it intends to use the IPO proceeds to support manufacturing and establish a sales and marketing team, among other activities.
The RT-LAMP-based platform, which the researchers plan to commercialize through a spinout company, could be adapted for other infectious disease tests.
The pace of development for CRISPR-based infectious disease assays increased as the pandemic progressed, more funding became available, and collaboration accelerated.
The two new tests, which have the capability to quantify a patient's viral load, have been designed without external RNA extraction or amplification steps.
The firm claims a rapid isothermal test has an LoD of 20 viral copies per milliliter while a saliva-based PCR test has an LoD of 2 copies per milliliter.
The loop-mediated isothermal amplification test runs on a battery-powered device to provide self-testing individuals with results in approximately 30 minutes.
