(RTTNews) - OraSure Technologies, Inc. (OSUR), a medical device company, on Monday announced that it has secured funding from the U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority (BARDA) through the Rapid Response Partnership Vehicle (RRPV) to develop Marburg Virus Disease rapid antigen test.
The initial contract is valued at approximately $7.5 million over multiple years, with the potential to reach $11 million.
The funding will support the development of a rapid antigen test designed to detect Marburg virus disease (MVD).
This single-use lateral flow immunoassay will be used to qualitatively detect antigens from the Marburg virus genus, primarily in individuals with epidemiological risk factors or those suspected of having died from MVD.
"We are excited to partner with BARDA to develop this vital test, which could play a key role in managing future Marburg virus outbreaks," said Carrie Eglinton Manner, CEO of OraSure. "This funding underscores our commitment to addressing global health challenges by creating tests that help prevent the spread of deadly viruses like Marburg, which has a fatality rate similar to that of Ebola."
OraSure previously collaborated with BARDA on the InteliSwab COVID-19 Rapid Test and is working to enhance its OraQuick Ebola Rapid Antigen Test.
The Marburg Virus test is expected to be crucial in global efforts to combat this highly fatal virus in future outbreaks.
OSUR closed Friday's trading at $3.80, down 1.04%. In premarket trading today, the stock is up by 9.21% at $4.15.
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