NEW YORK, May 26, 2020 /PRNewswire/ -- Infectious diseases such as Ebola, Influenza, Zika, MERS and the recent pandemic that is still spreading, cause enormous loss of life and devastate economies around world. Many factors influence the spread of such diseases, like globalization and associated travel and migration, the increasing population and suburban crowded homes, climate change, poor public health infrastructure and misuse of antibiotics are all, in part, responsible for the increase in severity of infectious disease. As the viral pandemic continues to ravage countries, so too does the world's collective uncertainty regarding when and how quickly society will return to normal. In the meantime, the importance and adoption of personal protective equipment (PPE) by the public has helped prevent even higher numbers of infected. PPEs are protective clothing, helmets, gloves, face shields, goggles, facemasks and/or respirators. When used properly, PPE acts as a barrier between infectious materials such as viral and bacterial contaminants and your skin, mouth, nose or eyes. Micron Waste Technologies Inc. (OTC: MICWD) (CSE: MWM), Co-Diagnostics, Inc. (NASDAQ: CODX), CytoDyn Inc. (OTC: CYDY), Aytu BioScience, Inc. (NASDAQ: AYTU), OPKO Health, Inc. (NASDAQ: OPK)
Some PPEs are reviewed by the FDA before they can be legally sold in the United States. The manufacturers have to show they meet specific criteria for performance, labeling, and intended use to demonstrate substantial equivalence. The global personal protective equipment (PPE) market was valued at USD 52.7 Billion in 2019 and is expected to reach USD 92.5 Billion by 2025 while growing at a CAGR of 8.7% during 2020-2025, according to VynZ Research. Developments have also been made in the testing segment, as diagnostic testing has improved over the course of the last two months. By test type, the rapid antigen test is likely to hold substantial market share in 2020. Antigen assays are also usually more cost-effective when compared to either molecular or culture techniques. Now, various companies from a vast field of industries, including biotechs, medical device manufacturers, tech conglomerates and others have all made various announcements of products or services related to the pandemic, with testing kits playing a key role.
Micron Waste Technologies Inc. (OTC: MICWD) (CSE: MWM) and its 100% owned subsidiary Covid Technologies Inc., announced today breaking news that, "the world-wide community is achieving high levels of success in using face masks to prevent the spread of the COVID-19 virus.
About COVID Technologies Inc (www.covidtechnologies.com) - In this time of crisis Covid Technologies Inc is preparing to deliver much needed PPE by provid-ing Canadian-made, high quality, vapour barrier technology (masks, protective garments), pro-tecting them from biological hazards, pathogens, and superbugs.
Covid Technologies has established manufacturing capacity at its Delta, BC manufacturing fa-cility through the acquisition of mask making equipment, including the purchase from Asia of a FLK120 surgical mask making machine and over 5 tonnes of raw material for mask production. (All items prepaid and enroute for delivery to Covid facilities in Delta BC for early June 2020 Covid has paid for the ordered equipment from existing working capital and has approximately $2.5M additional cash and manufacturing assets to deploy towards facial mask making.
COVID Technologies Inc has secured an intermim MEDL Licencce (Medical Device Licence) and will begin production starting in June 2020 of:
The Company also plans to manufacture N95 Respirators and is awaiting a licence from NIOSH (National Institute for Occupational Safety and Health (NIOSH) to be able to begin manufactur-ing these masks.
Face masks are not a substitute for physical distancing. The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time
The public is still advised to maintain at least six feet of distance from other people and stay home. Face masks are to be used when it is not possible to consistently maintain six feet of dis-tance from others or where work or businesses require them.
Micron Waste also announces that it has engaged Proactive Investors to provide investors relations services and written and video interview coverage of news releases and other corporate develop-ments. Proactive Investors is a financial news and events organization with bureaus in North America, the United Kingdom and Australia. Across all business lines, its worldwide client base numbers approx-imately 800 companies. Micron will compensate Proactive a sum total of $22,500 for a twelve month period to Proactivee."
Co-Diagnostics, Inc. (NASDAQ: CODX) announced earlier in May that its Logix Smart™ Coronavirus COVID-19 Test has been approved for sale in Mexico by the Mexican Department of Epidemiology ("InDRE") after InDRE successfully concluded an evaluation of the test's sensitivity and specificity and its non-reactivity with other respiratory viruses. InDRE, which is analogous to the U.S. Centers for Disease Control and Prevention (CDC), is required to evaluate any test to detect the disease before the test may gain clearance to be sold into the Mexican healthcare market. Co-Diagnostics also announced that CoSara, the Company's joint venture for manufacturing in India, expects to now begin filling orders following the successful evaluation of CoSara's Saragene™ COVID-19 RT-PCR test kit by the Indian Council of Medical Research (ICMR). The evaluation showed 100% sensitivity and 100% specificity without any cross reactivity with other respiratory viruses, and it has been cleared for sale to the Indian market.
CytoDyn Inc. (OTCQB: CYDY) announced last week it is offering comprehensive cytokine profiling (including RANTES levels) through its diagnostic partner company, IncellDx, to help physicians understand the pathogenesis of Childhood Inflammatory Disease Related to COVID-19. These laboratory tests are exploratory in nature and not intended for clinical decision making.
Recent reports in parts of the U.S. and Europe suggest a rare and potentially fatal inflammatory disease linked to the novel coronavirus is afflicting a small number of children. The condition resembles a rare childhood illness called Kawasaki disease, which has similar signs and symptoms and can lead to enlargement of blood vessels that in severe forms may cause heart damage. Nader Pourhassan, Ph.D., President and Chief Executive Officer of CytoDyn added, "We hope our comprehensive cytokine testing will help physicians gain a better understanding of the disease process and, in turn, explore the prospect for leronlimab to potentially provide a therapeutic benefit to children suffering from inflammatory illness related to COVID-19."
Aytu BioScience, Inc. (NASDAQ: AYTU) announced last month that it has received confirmation of export approval for product shipment by China's Ministry of Commerce for the Company's COVID-19 IgG/IgM Rapid Test. Josh Disbrow, Chief Executive Officer of Aytu BioScience, commented, "The backlog of medical products being exported from China created a shipment delay, but Aytu's next 500,000 rapid tests have now been cleared for shipment to the U.S. This export clearance from China, along with the additional supply we have secured through our new relationship with Biolidics, gives us great confidence in our supply chain and ability to provide these needed test kits to the U.S. medical community. Our shipments remain on track for delivery and, upon receipt, will be distributed to U.S. customers."
OPKO Health, Inc. (NASDAQ: OPK) announced back in April that beginning today it will offer antibody blood tests to detect an immune response after infection with the COVID-19 virus. Antibody testing and molecular diagnostic testing for COVID-19 are available to healthcare providers nationwide. In addition, under an agreement with New York State, BioReference will begin testing thousands of people per day for COVID-19 antibodies, starting today with MTA employees. BioReference began antibody testing last week with a focus on testing its employees. This week, BioReference launches COVID-19 antibody testing nationwide and is working expeditiously to be able to test 400,000 patients per day by mid-May.
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