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May 5, 2021

New Haven company marketing COVID antibody test on Amazon

PHOTO | Pixabay.com
By Natalie Missakian

New Haven’s Precipio Inc. has begun marketing a new 20-minute COVID-19 antibody test on e-commerce giant Amazon’s business platform. 

Precipio announced this week that it has begun selling the MidaSpot COVID-19 Antibody Combo Detection Kit to medical professionals and facilities via the website.

The Science Park-based diagnostics company has a distribution deal with Nirmidas Biotech Inc., the California company that developed and makes the test. 

The FDA granted the rapid, point-of-care test emergency use authorization in January, but currently it can only be sold to qualified medical point-of-care providers.

The test is used to detect whether a person has developed antibodies to the virus after being exposed or vaccinated. 

Precipio is hoping regulators will soon authorize the test for at-home use by the general public. 

Precipio said it has exclusive rights to distribute the test on Amazon's platform. 

“We look forward to working with other retail outlets, as well as with Nirmidas, to advance this product into at-home use, following the receipt of appropriate FDA authorization,” Precipio CEO Ilan Danieli said in a statement.

Shares of Precipio shot up 170% to $7.80 after the news was announced on Monday. It was trading at $4.08 Wednesday afternoon, up from $1.84 last Friday. 

Contact Natalie Missakian at news@newhavenbiz.com

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