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Covid Test Kit Maker Set for Seoul Debut at $4 7 Billion Value

Covid Test Kit Maker Set for Seoul Debut at $4 7 Billion Value
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Korean Covid-19 Test Maker Prepares For IPO Amid Revenue Leap, Founder To Become Billionaire

Korean Covid-19 Test Maker Prepares For IPO Amid Revenue Leap, Founder To Become Billionaire Share to Facebook COURTESY OF SD Biosensor Cho Young-sik, founder of Covid-19 test maker SD Biosensor, is set to become a billionaire this month, when the South Korean company is expected to list its shares on the Korea Exchange. SD Biosensor is offering 12.4 million shares at a price range of 45,000 won to 52,000 won apiece. At the midpoint of that range, the deal could raise 603 billion won (about $530 million) and value the company at 4.9 trillion won. The subscription period is to start July 8 and end July 9. The company says it plans to use the proceeds to expand production lines, diversify its product portfolio and expand its presence in Europe and South America.

Lyme disease: Gold Standard Diagnostics announces FDA clearance of new test

Gold Standard Diagnostics (GSD) recently announced FDA clearance of a new B. burgdorferi IgG/IgM VlsE-OspC EIA test. This test, when used in conjunction with the other FDA cleared GSD Lyme EIA tests can be used in the CDC recommended modified two-tiered testing (MTTT) algorithm. Borrelia burgdorferi spirochetes/CDC In 2014, the CDC issued an updated recommendation for the serologic diagnosis of Lyme disease, endorsing the use of a two-tier testing algorithm that uses a second enzyme immunoassay, or EIA, in place of a western immunoblot assay. Gold Standard Diagnostics now offers a solution for this Lyme testing algorithm, which complements GSD’s existing market-leading Lyme test portfolio.  With the addition of the B. burgdorferi IgG/IgM VlsE-OspC EIA test, customers can choose which tests and algorithms best meet their laboratory and client’s needs.  All six      assays are designed for optimal performance and can be run on any open automation platform.

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