LabGenomics, a molecular diagnostics health care company, developed the world’s first 35-minute real-time polymerase chain reaction test kit for COVID-19.
The company’s shares, listed on the tech-heavy Kosdaq, hit the daily growth ceiling of 30 percent on the day of the announcement Wednesday and continued to be upbeat in early morning trading Thursday, rising by 14.17 percent.
Before, RT-PCR test kits for COVID-19 could yield results as fast as 2 1/2 hours.
LabGenomics’ 35-minute product, named LabGun COVID-19 Exo FAST RT-PCR, is the first in the world to dramatically reduce the testing time.
Korea Centers for Disease Control and Prevention has approved the emergency use of the LabGun kit, and the Drug Ministry has given its nod to export it.
While isothermal amplification method of PCR test could also give results in roughly 30 minutes, for an RT-PCR test to do so is a significant technological advancement, LabGenomics said in a press release.
The company believes its RT-PCR test kit is the most superior form of COVID-19 testing in the world, and said it will press for further approvals to expedite the device’s widespread use.
By Lim Jeong-yeo (email@example.com