RTTNews | Jul 29, 2020 08:41AM EDT

08:40 Wednesday, July 29, 2020 (RTTNews.com) - Veracyte Inc. (VCYT) and MAVIDx have reached an agreement by which MAVIDx will develop ultra-high throughput genomic testing for SARS-CoV-2, the virus that causes COVID-19, on the nCounter Analysis System, Veracyte's diagnostics platform, Veracyte said in a statement.

Veracyte noted that the new approach may enable processing of over 40,000 patient samples per day using molecular barcodes for viral RNA.

MAVIDx is cofounded by Dimitrov, a founder of NanoString and inventor of the single-molecule barcode technology that powers the nCounter system.

Veracyte acquired the exclusive global diagnostic rights to the nCounter system from NanoString in December 2019.

As per the new deal, MAVIDx will develop, validate, secure regulatory approvals for and commercialize its SARS-CoV-2 and other infectious disease tests, including for influenza, on the nCounter system.

Veracyte has secured an equity stake in MAVIDx and will supply the company's infectious disease test kits and nCounter instruments to support laboratories and other entities in the United States and in global markets. Financial and other details were not disclosed.

Read the original article on RTTNews ( https://www.rttnews.com/3115579/veracyte-mavidx-to-develop-covid-19-testing-on-ncounter-system.aspx)

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