March 20, 2020 / 3:24 PM / 19 days ago

BRIEF-Novacyt To Increase Manufacturing Capacity In Face Of Increasing Demand For COVID-19 Tests

March 20 (Reuters) - NOVACYT SA:

* CORONAVIRUS TEST UPDATE: SIGNIFICANT INCREASE IN DEMAND, FURTHER EXPANSION OF MANUFACTURING CAPACITY

* AS OF TODAY, PRIMERDESIGN HAS SOLD AND RECEIVED ORDERS FOR OVER £8.7 MILLION (EUR 9.6 MILLION) OF ITS CE-MARK AND RESEARCH USE ONLY (RUO) COVID-19 TESTS

* ALL NOVACYT STAFF AND COMPANY’S RECENTLY APPOINTED MANUFACTURING PARTNER ARE WORKING AT FULL CAPACITY TO FULFIL THIS DEMAND

* THIS REPRESENTS AROUND 18 MONTHS OF TOTAL SALES FOR DIVISION UNDER NORMAL CIRCUMSTANCES AND ALREADY EXCEEDS TOTAL SALES ACHIEVED BY PRIMERDESIGN IN 2019

* COMPANY CONFIRMS IT IS TAKING FURTHER ACTION TO INCREASE ITS MANUFACTURING CAPACITY

* HAS PURCHASED ADDITIONAL RAW MATERIALS SO THAT IT IS NOW ABLE TO PRODUCE MORE THAN 5 MILLION COVID-19 TESTS AND WILL CONSTANTLY REVIEW THIS DURING NEXT FEW WEEKS

* ANNOUNCES IT IS IN ADVANCED DISCUSSIONS WITH A SECOND THIRD-PARTY MANUFACTURER, BASED IN THE UK, IN ORDER TO FURTHER EXPAND MANUFACTURING CAPACITY

* HAVING THREE INDEPENDENT MANUFACTURING SITES ALSO ENABLES COMPANY TO DE-RISK ITS OWN SUPPLY CHAIN IN EVENT THAT COVID-19 DISRUPTS MANUFACTURING OPERATIONS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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