Palm Beach, FL – February 18, 2022 – FinancialNewsMedia.com News Commentary – PCR testing and the COVID-19 diagnostic testing market has, unexpectantly, been growing at a substantial rate the past few years. Countries are racing to slow down the spread of the disease by implementing necessary measures and increasing sample testing. The growing demand for COVID-19 diagnostic procedures and products alone has created immense opportunities in the healthcare industry, thus augmenting the market value. According to Fortune Business Insights: “The PCR technique segment dominated the market in 2020. The dominance is attributable to the increased quantification of patent samples by the use of PCR. PCR adoption has also contributed to the considerable growth of the segment. Moreover, the launch of new PCR-based detection techniques is like to surge the demand of for PCR instruments in the upcoming years.” For example, the emergence of the COVID-19 pandemic has led to an explosion of research on various combinations of compounds in laboratories to develop COVID-19 diagnostics and therapies. pharmaceutical and biotechnology companies have registered their preclinival as well as clinical studies for testing novel therapies against the deadly virus. Plasma therapy, immunotherapy, and stem therapy trials are currently in the pipeline. This trend is likely to increase coronavirus detection market during the forecast period. A report from ResearchAndMarkets projected that The global COVID-19 diagnostics market size is expected to reach USD 283.93 billion by 2029 and USD 116 billion in 2022 with a CAGR of 13.6% through 2029. The report said: “The COVID 19 pandemic has compelled the research establishment to quickly create extremely accurate diagnostic procedures to efficiently and properly detect this virus in order to restrict infectious transmission.” Active companies in the markets this week include: Goodbody Health Inc. (OTCPK: GDBYF) (CSE: GDBY), CloudMD Software & Services Inc. (OTCQX: DOCRF) (TSXV: DOC), Biocept, Inc. (NASDAQ: BIOC), Castle Biosciences, Inc. (NASDAQ: CSTL), Sorrento Therapeutics, Inc. (NASDAQ: SRNE).
Furthermore, the advent of novel and innovative diagnostic tests, such as immunoenzymatic serological tests, rapid antigen tests, and molecular tests based on RT PCR, are expected to drive the industry’s demand… companies are investing in research & development and are introducing new products to compete in the global market. Asia Pacific is expected to hold the largest market share in the global market over the forecast period due to increasing cases of coronavirus along with the presence of several industry players. However, North America is expected to grow at a considerable pace over the forecast period due to increasing virus testing rates, as this region is one of the most affected regions by the virus.”
Goodbody Health Inc. (OTCPK: GDBYF) (CSE: GDBY) BREAKING NEWS: GOODBODY HEALTH ANNOUNCES FIRST CLINIC IN CANADA – Goodbody Health Inc. (OTCPK: GDBYF) (CSE: GDBY) (Goodbody Health” or the “Company”) is pleased to announce that following its successful rollout of Goodbody testing clinics in the UK, which undertake Covid PCR and blood testing, it has signed the lease for its first clinic premises in Vancouver Canada. The clinic is situated in Burrard Health Centre – a nine storey health-care oriented office building positioned directly across from St. Paul’s Hospital. The building is home to numerous Doctors, Therapists and other medical practitioners or personal service professionals alike and so it considered an ideal location for the company to research future opportunities and roll out the clinic success of the UK.
Geremy Thomas, Executive Chairman, said; “I am delighted to have taken Goodbody clinics back across the Atlantic to Canada. I am sure the success Goodbody clinics have had to date in the UK will continue in Canada as well.” CONTINUED…. Read this release for the Goodbody Health news at: https://www.financialnewsmedia.com/news-gdby/
Other recent developments in the markets include:
CloudMD Software & Services Inc. (OTCQX: DOCRF) (TSXV: DOC), a healthcare technology company transforming the delivery of care, recently announced the successful completion of the previously announced acquisition of MindBeacon Holdings Inc., one of North America’s leading providers of digital mental health care, pursuant to a court-approved plan of arrangement. Pursuant to the Arrangement, former MindBeacon shareholders are entitled to receive $1.22 of cash plus 2.285 common shares of CloudMD for each common share of MindBeacon. Following completion of the Arrangement, CloudMD has 287,675,749 common shares issued and outstanding, of which approximately 19.1% are owned by former MindBeacon shareholders.
MindBeacon’s robust digital mental healthcare platform, combined with its network of over 500 licensed therapists and advanced clinical psychologists, offers a full continuum of care centered around providing users the freedom to choose how, when and where they engage with support.
Biocept, Inc. (NASDAQ: BIOC), a leading provider of molecular diagnostic assays, products and services, recently announced that COVID-19 RT-PCR testing volume has increased in 2022 with the emergence of the Omicron variant. Biocept continues to serve the community with high-quality testing, having received more than 40,000 samples for COVID-19 testing since the beginning of 2022 and more than 765,000 samples since initiating this service in June 2020.
“RT-PCR COVID-19 testing, like the testing we offer, is highly sensitive and more accurate than a rapid antigen test,” said Michael Dugan, MD, Biocept’s Chief Medical Officer and Medical Director. “A person with suspected COVID-19 has a much better chance of having a positive RT-PCR test than the same patient using the antigen test. We actually test for three gene targets of COVID-19, so we are not reliant on just one target gene or protein as used in some other tests. Omicron variant cases notably lose the ‘S gene’ target and can easily be missed by a single gene PCR test or single protein rapid antigen. Most positive cases we are seeing right now have only two of the original three gene targets. These cases can be easily missed with single target tests.”
Castle Biosciences, Inc. (NASDAQ: CSTL), a leader in transforming disease management and improving patient outcomes through innovative diagnostics, recently announced a collaboration with the National Cancer Institute (NCI) to link DecisionDx®-Melanoma testing data with data from the Surveillance, Epidemiology and End Results (SEER) Program’s registries on cutaneous melanoma (CM) cases.
CM cases in the SEER registries that were diagnosed between 2013-2018 were linked with DecisionDx-Melanoma results and additional clinicopathologic information from patients tested between 2013-2018. The Company expects to continue collaborating with the NCI to link the SEER registries’ CM cases diagnosed post-2018 with DecisionDx-Melanoma test results. The initial linked dataset is expected to be broadly available to interested researchers through the standard data request process for SEER Specialized Datasets in 2022.
Sorrento Therapeutics, Inc. (NASDAQ: SRNE) recently announced the acquisition of a majority ownership of Zhengzhou Fortune Bioscience Co., Ltd. (“FortuneBio”). This acquisition is in response to dramatically increasing demands worldwide and planned product build-up in anticipation of potential additional approvals for Sorrento’s COVISTIXTM COVID-19 VIRUS Rapid Antigen Detection Test.
FortuneBio specializes in the manufacture of lateral flow diagnostic tests with numerous approved products marketed in over 20 countries for pregnancy tests, fecal occult blood test, and drug abuse test kits. FortuneBio has an ISO 13885 facility and is capable of producing tens of millions of lateral flow tests per month. FortuneBio is currently expanding production capabilities to meet COVISTIX demand worldwide.
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