Evogen enters the race for swine flu diagnostic

May 8, 2009 by MassDevice

A few days back, we wondered if Inverness Medical Innovations' BinaxNOW diagnostic kit would win approval from the Centers for Disease Control for detecting swine flu.

Now Kansas City-based Evogen Inc. is entering the race, asking the Food & Drug Administration to approve its molecular PCR diagnostic test for the H1N1 virus.

The test "is capable of rapidly and specifically detecting H1N1 pandemic Influenza," according to a company press release.

Corporate business development VP Joanne Stephenson told the Kansas City Business Journal the company plans to submit its FDA request in the next two to three months.

The Evogen product analyzes air samples to detect and diagnose swine flu and other influenza strains. The air sampler will cost about $25,000; the testing equipment another $10,000 and each test will run about $10, Stephenson told the journal.

Waltham-based Inverness Medical Innovations' stock price surged April 27, jumping more than $3 per share to $31.12, on the strength of its Q1 sales and earnings and news that the company was "working with the CDC and other government agencies to aid and support their efforts during the Swine Flu outbreak."

We're not alone in keeping an eye on Inverness, even as the urgency of the swine flu abates; the stock is holding steady, trading at $31.11 as of 4:01 p.m. today.

Permalink