- Medical technologists Therma Bright (THRM) leapt up 17 per cent today, after identifying series of polypeptides for the screening and detection of COVID-19
- The company’s co-development partner Orpheus Medica successfully isolated several of the high-quality peptides, which can distinguish the virus from similar coronavirus strains, such as SARS or MERS
- The peptides will be incorporated into the companies’ CoviSafe product, which is currently being developed to identify the proteins associated with COVID-19
- Following increased investor attention during the pandemic, the company’s share price rapidly sprang up from C$0.03 per share to around 37 cents per share throughout July, before partially dropping back in recent weeks
- Therma Bright (THRM) is up 17.86 per cent and is currently trading at 16 cents per share
Medical technologists Therma Bright (THRM) leapt up 17 per cent today, after identifying series of polypeptides for the detection of COVID-19.
The company’s co-development partner Orpheus Medica successfully isolated several of the high-quality peptides, which can distinguish the virus from similar coronavirus strains, like SARS or MERS.
The peptides will be incorporated into the companies’ CoviSafe product, which is currently in development.
The technology is being designed to identify proteins associated with COVID-19, rather than the virus’s genetic material. Further products are being developed by the two companies to differentiate between COVID-19 and the seasonal flu.
Therma Bright believes the technology could help monitor large often asymptomatic populations, during and after the pandemic. Following Health Canada’s recently announced plans for COVID-19 home testing devices, the company hopes its product will fit the much needed and rapidly emerging virus-detection market.
Like many listed companies in the medical testing industry, Therma Bright has seen unprecedented growth in the wake of COVID-19. After appearing largely unaffected at the immediate onset of the pandemic, the company’s share price rapidly sprang up from C$0.03 per share to around 37 cents per share.
Since that initially rise the company’s gains have somewhat waned, but it is still trading high above its pre-COVID levels at around 16 cents per share.
Rob Fia, CEO of Therma Bright, commented on the companies’ recent developments.
“We believe that CoviSafe can be developed as a low cost, saliva-based solution, that produces fast and accurate results for use at point of care or home, school, business or sporting event applications.
“We are excited for the potential to incorporate features that identify whether someone has COVID-19 or the seasonal flu. Therma and Orpheus believe this goal is the game changer that the world is looking for to get back to normalcy,” he said.
Therma Bright (THRM) is up 17.86 per cent and is trading at 16 cents per share at 1:01pm EDT.