Victory Square Technologies (VST) has received approval to sell and distribute its COVID-19 tests for the entire European Union.
The company received the CE designation from the European Union for its VS SARS CoV-2 Antigen Rapid 15 Minute test on Dec. 18, 2020. The CE designation allows Victory Square to start marketing, sales and distribution of its white label product.
The company's rapid tests have a 92 per cent sensitivity, 99.2 per cent specificity and can confirm whether one is currently infected with the virus.
Victory Square has now received CE EU approvals for three of its COVID-19 testing products including the 15 Minute Rapid Antibody Blood Test, ELISA Lab-based test, and the 15 minute Nasal Rapid Antigen Test. These product offerings cover the essential testing procedures to detect SARS Covid-19 both at laboratory and at a point of care level.
The company expects to begin delivery from orders of its whitelabeled Antigen test as early as January 1, 2021.
The World Health Organization has set a minimum performance requirement at greater than 80 per cent sensitivity and greater than 97 per cent specificity.
According to the European Centre for Disease Prevention and Control, "Rapid Antigen Tests can contribute to overall COVID-19 testing capacity, offering advantages in terms of shorter turnaround times and reduced costs, especially in situation in which RT-PCR testing capacity is limited."
Victory Square is a Vancouver-based company that builds, acquires and invests in promising start-ups.
Victory Square Technologies is 3.77 per cent down for C$0.51 per share at 10:20am EST.