It’s a good start to the day for Aptorum Group Limited [NASDAQ:APM] investors. The stock has been gaining quite strongly since early morning and was up by over 600% just before markets opened.
The massive gains come after the company announced that it had launched an infectious disease liquid biopsy startup. The company also announced that it landed an exclusive in-license deal for the development of molecular-based rapid pathogen diagnostics tools from Singapore based Accelerate Technologies. The tools developed under the co-development deal will be used in tracking pathogenic genomes.
Aptorum intends to leverage the deal to aggressively grow market share in the molecular tools diagnostics market. This is a big deal considering that the molecular diagnostics market is expected to hit a valuation of $13.8 billion by the year 2025. It is also noteworthy that around 60% of this $13.8 billion market is expected to be driven by infectious disease, an area that the company intends to reach using high-tech RPIDD technologies.
RPIDD is a technology that can identify and detect pathogens, with a high degree of accuracy. It has the capacity to identify both known pathogens and emerging ones such as coronaviruses and bacteria that are resistant to antibiotics. It is also important to note that this technology can do this cost-effectively and without bias, by using a liquid biopsy, software analytic and genome sequencing.
Through its subsidiary called Aptorum Innovations Pte Ltd, Aptorum Group will have exclusive licensing and commercialization rights to the RPIDD technology that is being developed in partnership with Accelerate Technology. Aptorum Group has also stated that it wants to start developing RPIDD-driven infectious disease laboratories in the next 2 years.
The company added that one of these labs would be located in Singapore and that it would work with hospitals and other health facilities in the country. Other locations where it intends to set up the labs are in Australia and Hong Kong.
Commenting on the development, the company’s CEO Dr Clark Cheng stated that with the global disruption caused by COVID-19, and the global issue of antibiotic resistance all played a role in the company’s decision to bolster its capacity in biopsy diagnostics. He added that the mortality rates of infectious diseases was quite high and necessitated action. He further stated that the company, through its subsidiary would roll out RPIDD commercially by setting proprietary labs.
About Aptorum Group Limited
Aptorum Group Limited is a pharma company that develops treatments for unmet needs. It is based in London, United Kingdom.