Quidel (QDEL +0.3%) has signed a letter contract with NIH related to the latter’s Rapid Acceleration of Diagnostics (RADx) initiative aimed at boosting U.S. testing capacity for SARS-CoV-2 leveraging new technologies.
The company expects to ink a definitive agreement with the agency by mid-September, gaining access to funding to support the expansion of testing capacity in San Diego for its tests for the coronavirus performed on its Sofia Fluorescence Immunoassay platform. Specifically, the monies would be earmarked to support the upgrade and addition of manufacturing lines that will increase capacity from 84M cassettes per year to more than 220M per year.
The capital would also support the outfitting of a larger distribution center for the company’s rapid diagnostic assays.
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