The RADx program accelerates the progression and commercialization of cutting-edge technologies to particularly develop U.S. testing capability. For SARS-CoV-2, the virus that causes COVID-19. Fluidigm microfluidic generation is the basis of several COVID-19 tests designed to run on the Fluidigm Biomark ™ HD system.
“This is an exciting step,” said Bruce Tromberg, PhD, Director of the National Institute of Biomedical Imaging and Bioengineering and leader of RADx Tech, one of the 4 parts of the NIH Rapid Acceleration of Diagnostics initiative. “This will exponentially increase the ability to test in the United States. The revolutionary technologies emerging from our RADx portfolio will indicate public aptitude measures to prevent the spread of the virus and leave us more supplied to fight long-term pathogens and other diseases.”
A goal of the RADx initiative is to enable approximately 6 million daily tests in the United States by December 2020, many times the current daily testing rate. The Fluidigm project targets a production capacity of more than one million COVID-19 tests per day by the end of the first quarter of 2021. Actual production volumes may vary based on market demand and other factors.
“RADx was created in just five days after the announcement of $1.5 billion in federal stimulus funds, and the fast, targeted, results-oriented technique for wearing down the initiative project is exactly what everyone wants to return to public spaces safely, adding paintings and school.
“Fluidigm’s generation is suited to expand COVID-19’s testing capability in the U.S., and we’re pleased to have the opportunity to marry the NIHs on this historic adventure.”
The contract letter provides up to $12 million of the proposed general investment for the assignment prior to the definition of the contract. The launch of the contract letter investment will be based on milestones, which come with an initial validation assessment followed by deliveries similar to the progression of Fluidigm microfluidic generation and the expansion of a similar production capacity.
As of July 30, 640 RADx programmes had been presented, with seven projects, adding Fluidigm, progressing through the series of existing contracts to the final Phase 2 segment of the RADx variety process. Phase 2 reaches the finishing touch of validation, approval, and production processes to deliver a viable, higher-capacity product to the U.S. public.
Fluidigm’s ongoing collaboration with the Defense Advanced Research Project Agency (DARPA) and its Epigenetic Characterization and Observation (ECHO) program includes money for the progression of cutting-edge systems based on our microfluidic technology.
About Fluidigm Fluidigm (Nasdaq: FLDM) focuses on the most urgent desires of translational and clinical studies, adding cancer, immunology and immunotherapy. Using patented CyTOF® and microfluidic technologies, we develop, manufacture and market multidrug responses to generate meaningful fitness and disease storytelling, identify biomarkers to make decisions, and accelerate the progression of more effective therapies. Our clients are the leading academic, government, pharmaceutical, biotechnology and plant and animal studies laboratories worldwide. With them, we try the quality of life for everyone. For more information, stop at fluidigm.com.
Fluidigm, the Fluidigm logo, Biomark and CyTOF are and/or are registered with Fluidigm Corporation in the United States and/or other countries.
Forward-looking statements for Fluidigm This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, inter alia, statements relating to Fluidigm’s overall prospective investment under the RADx allocation, the end of a final contract for allocation, allocation objectives for production capacity and increased availability of COVID-19 tests, and expectations related to the procurement procedure for this allocation. Forward-looking statements are the subject of dangers and uncertainties that may cause actual effects to differ materially from existing forecasts, including, but not limited to, hazards related to the potential adverse effects of the coronavirus pandemic on our operations and the effects of operations in 2020; Uncertainties in contron relations; our ability and/or the ability of study institutes that use our products and generation to download FDA emergency approval and any other approvals required to use our products and generation for diagnostic testing; Potential adjustments in priorities or needs for emergency use authorizations Potential adjustments in government agency priorities Potential limits of any emergency use authorization The demanding situations inherent in the progression, manufacture, launch, marketing and sale of new products; Risks related to company studies and progression and distribution plans and capabilities; interruptions or delays in the source of parts or fabrics for the manufacture of Fluidigm products; Possible problems of functionality and product quality. Dangers of intellectual assets and competition. Information on these hazards and uncertainties, as well as other data affecting Fluidigm’s operations and operations, is contained in Fluidigm’s Annual Report on Form 10-K for the year ended December 31, 2019 and in its other documents filed with the Securities and Exchange Commission. . These forward-looking statements only refer to the date here. Fluidigm disclaims any legal liability to update such forward-looking statements, unless required by law.
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