Chembio Diagnostics and LumiraDx Enter Collaboration to Develop New Point-of-Care Diagnostic Tests for Infectious Diseases

Chembio Diagnostics (Nasdaq:CEMI), a leader in point-of-care (POC) diagnostic tests for infectious diseases, today announced that it has entered into a collaboration agreement with LumiraDx to develop new POC diagnostic tests for infectious diseases. Under terms of the agreement, Chembio will receive funding from LumiraDx, subject to satisfying certain milestones, to develop certain new POC infectious disease tests.

As quoted in the press release:

“We selected Chembio as our partner due to the company’s expertise in developing high-quality POC infectious disease assays, and we believe the commercial opportunity for both firms is significant,” stated Ron Zwanziger, LumiraDx’s Chairman and Chief Executive Officer.

The LumiraDx collaboration enables Chembio to further pursue its strategy through the development of a portfolio of new POC infectious disease tests that utilize Chembio’s scientific expertise in the field of POC infectious disease.

“We are excited about the collaboration with LumiraDx as it validates our scientific expertise and complements our DPP® platform strategy,” stated John Sperzel, Chembio’s Chief Executive Officer. “Through our joint efforts, we expect the new products to provide access to a broader customer base. In addition, we anticipate expanding our product portfolio by applying reagent biomarkers funded through this agreement to our DPP® platform.”

Click here to read the full press release.