Rapid Diagnostics Announces Completion of Asset Purchase and New Corporate Strategies

Rapid Diagnostics ML Limited, UK is pleased to announce the return of its Point of Care (PoC) platform, the MiniLab System.

Rapid was formed to purchase the assets and Intellectual Property (IP) of the former Enigma Diagnostics, which was liquidated in 2017. With the completion of the re-organization, Rapid Diagnostics initial activities are to secure equity investment and strategic partnership(s), registration of the Rapid MiniLab platform and first assays with China's National Medical Products Administration (NMPA, Former CFDA).

Robert Clink, CEO of Rapid, commented: "We are in the process of prioritizing various products for our commercialization strategy. As an example, we are super excited about our Multi-Drug Resistance Tuberculosis (MDR-TB) assay, which only takes about 45 minutes from raw sample to result. This makes the fastest PoC based molecular diagnostic test for MDR-TB on the market."

Working with other stakeholders and key technical staff, Rapid Diagnostics has established a modern manufacturing and engineering facility in Didcot, Oxfordshire, as well as capabilities in China to manufacture and assemble assay cartridges, other components and disposables.

Rapid Diagnostics has retained the advisory service of Lynx Financial, a Shanghai-based Investment Banking firm, to help the company in the search of strategic partners and investors. Donald Xu, Managing Partner of Lynx Financial, commented: "MiniLab platform, with its current and future assay offerings in the Respiratory Infectious diseases, can help address many unmet medical needs like TB and drug resistance in China and other under-served markets. We are honored to be working with the management team and scientists at Rapid Diagnostics to bring their visions into reality."

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