ProMIS Neurosciences Inc. (PMN:TSX; ARFXF:OTCQB) announced in a news release its progress to date and timeline on developing a "high-throughput, highly accurate test for detection of antibodies to SARS CoV-2," the virus that causes COVID-19.
The biopharmaceutical firm identified 18 possible SARS CoV-2antibody targets. The next step is for these conformational peptide antigens to be synthesized by a specialized laboratory, and this will take place over the coming weeks.
After that, testing and validation will be done by Dr. Hans Frykman, "a globally recognized neuro-immunologist and his team" at the University of British Columbia.
Dr. Frykman and his team "will evaluate serology test performance in a high throughput assay with each of the 18 peptide antigens in order to validate and select the best among them, aiming to achieve 100% sensitivity and 99.9% specificity for the virus causing COVID-19," the release noted.
This is significant because accuracy of prospective and existing tests remains a problem due to crossreactivity with other coronaviruses, including four viruses responsible for causing the common cold, the company stated.
"As antibody tests for COVID-19 flood the market, the accuracy of these tests has emerged as a seemingly insurmountable barrier to resuming our lives with confidence. Developing an accurate antibody test selective for a single virus amongst a larger family of similar viruses is very challenging using today's tools," President and CEO Dr. Elliot Goldstein said in the release.
"A highly accurate test for COVID-19 requires the ability to identify unique target protein structures, our main area of expertise by virtue of our work with the misfolded proteins that drive neurodegenerative diseases. We expect development of a highly accurate test and anticipate commercial availability shortly thereafter," Dr. Goldstein added.
Read what other experts are saying about:
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: ProMIS Neurosciences. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of ProMIS Neurosciences, a company mentioned in this article.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.
