Braveheart says Paraytec’s coronavirus diagnostic tool programme still on track

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Braveheart Investment Group PLC (LON:BRH) said investee company Paraytec has now received all clinical samples required to test its new coronavirus (COVID-19) diagnostic tool.


Paraytec is working with Sheffield University on the tool and will use the samples to measure it against guidelines for false positive and negative tests set by the Medical Health Regulatory Authority.


Results from this phase of clinical testing are now expected by the end of February due to the impact of the latest coronavirus lockdown on the delivery of the samples.


To minimise the effects of this delay, Paraytec has brought forward scheduled work using isolated lab-grown virus to detect pre-symptomatic and early-stages of the virus.


Paraytec’s target is to detect less than 1000 virions per millilitre of sample, which would represent a market-leading performance if achieved, Braveheart said.


By re-arranging the workflows Paraytec does not believe that there will be any overall delay to the development programme, which is attempting to develop a test that delivers a result within five minutes.


In a statement, Professor Carl Smythe, who leads the University of Sheffield team, said: “We are very pleased with the rapid performance of our sample capture device. Together with the analytical sensitivity and speed of the optical system, we are on track to deliver a robust test that will support the level of infection control required globally.”


Trevor Brown, CEO of Braveheart added: The agility and dedication of the team has resulted in workflows being re-arranged so that the unanticipated impact of the third lock-down has been eliminated within the original project timeframe.”

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