Deep Verge shares jump on upbeat 60-second Covid breath test trials
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Shares in Deep Verge jumped today after the science tech firm revealed upbeat data from clinical trials of its rapid Covid breath test.
The London-listed firm hailed a “major milestone” after initial results from phase three clinical studies showed its test could recognise Covid infections in under 60 seconds.
While the company is still awaiting the full outcome of the trials, it said it is hopeful it will be able to roll out the product later this year.
Shares in the Aim-listed company were up almost 10 per cent following the announcement.
The data for Deep Verge’s test, dubbed Microtox BT, showed the product detected and identified the Covid virus S-protein in quantities at 40 femtogrami per millilitre at close to 100 per cent sensitivity and specificity.
Deep Verge, which develops a range of products across the medical, life science and environmental science sectors, has adapted its Covid breath test from its existing AI-based water contamination system used to detect e coli levels.
Chief executive Gerard Brandon said the company had “reached a major milestone” with the latest results.
UK regulations require rapid Covid breath tests to have 150 confirmed positive samples and 250 confirmed negative samples.
Brandon said further trials from a larger group were expected to provide sufficient data to meet this standard, adding that the firm hoped to roll out its tests later this year.
Analysts at Turner Pope said: “Assuming the additional trials compare well with the initial data, its elementary ‘foolproof’ application suggests Microtox BT has potential to become a favoured product for use across the international community.”