The Australian government funding is expected to support the commercialisation of SpeeDx’ respiratory virus host response test, dubbed rapid-response assay
Australia-based molecular diagnostics company SpeeDx, together with the researchers from Nepean Blue Mountains Local Health District’s (NBMLHD) Nepean Hospital Intensive Care Unit, has received funding under the MTPConnect Biomedical Translation Bridge (BTB) programme.
The federal funding is expected to support the commercialisation of the company’s respiratory virus host response test, dubbed rapid-response assay, to enhance Covid-19 management activities and prepare for the future viral pandemic, said the company.
SpeeDx CEO Colin Denver said: “The MTPConnect BTB funding will be instrumental in advancing our commercialisation process and supporting the tight timelines we are setting in order to bring this important product to market.
SpeeDx adapts molecular test developed by the NBMLHD laboratory
SpeeDx said that it has adapted molecular test developed by the NBMLHD laboratory, which targets a specific genetic marker expressed in response to the respiratory virus infection, with levels of the marker correlated with disease progression.
Leveraging the recently patented InSignia technology that improves the gene expression measurement, the diagnostic test is said to be a rapid, high-throughput tool to facilitate the risk-based classification of patients with respiratory viral illness, including Covid-19.
The Australian Government’s BTB programme is a $22.3m MRFF initiative, delivered by MTPConnect, and provides up to $1m in matched funding to develop translation of new therapies, technologies and medical devices, enabling advanced medical ideas executed into reality.
Established in 2009, SpeeDx is a developer of innovative molecular diagnostic solutions, with subsidiary offices in Austin and London, and distributors across Europe.
The company provides solutions that not only address simple detection, but also the complete information for enhanced patient management.
Its product portfolios focus on multiplex diagnostics for sexually transmitted infection (STI), antibiotic resistance, and respiratory diseases.