OraSure Technologies Secures Funding for Innovative Testing Solution

Funding for Marburg Virus Antigen Testing

OraSure Technologies, Inc. (NASDAQ: OSUR), a pioneer in point-of-care and home diagnostic solutions, has made significant strides recently. The company announced a crucial award through the Rapid Response Partnership Vehicle (RRPV) aimed at developing a rapid antigen test for Marburg Virus Disease (MVD). This award, which is part of a strategic initiative funded by the Biomedical Advanced Research and Development Authority (BARDA) under the U.S. Department of Health and Human Services, is set to revolutionize the way we handle potential outbreaks.

Details of the Contract and Test Development

The initial award, amounting to around $7.5 million over several years, could potentially rise to a total of $11 million. This funding will primarily focus on achieving the U.S. Food and Drug Administration (FDA) 510(k) clearance for a carefully designed single-use lateral flow immunoassay. This innovative test is intended for the qualitative detection of antigens from the Marburg virus, particularly for individuals exhibiting symptoms or suspected cases due to their epidemiological risk factors.

Importance of the Marburg Virus Test

With the potential to significantly impact future outbreak containment efforts, the test is expected to serve as a critical tool in public health response. Carrie Eglinton Manner, the President and CEO of OraSure, emphasized the importance of this initiative in combating the deadly Marburg virus, a pathogen linked to high fatality rates, comparable to that of the Ebola virus. The commitment to such projects reflects OraSure's dedication to innovation and partnership with federal agencies to address global health crises.

Previous Successful Collaborations with BARDA

OraSure's track record of collaboration with BARDA is commendable, having previously contributed to the development of the InteliSwab® COVID-19 Rapid Test. Their ongoing partnership also extends to enhancements of the OraQuick® Ebola Rapid Antigen Test. These collaborations underline the company's capability and dedication to improving diagnostic testing in critical situations.

About OraSure Technologies, Inc.

OraSure Technologies is at the forefront of transforming healthcare through innovative testing solutions. The company strives to enhance healthcare access and quality, providing vital insights that connect individuals to the healthcare system. Their comprehensive portfolio includes rapid diagnostic tests and sample management solutions that address various medical conditions, making them a trusted name in the industry. Serving clinical laboratories, healthcare institutions, and consumers globally, OraSure continues to lead with purpose and innovation.

Investor and Media Contact Information

For inquiries related to investor relations, please reach out to:

Jason Plagman
Vice President, Investor Relations
investorinfo@orasure.com

For media inquiries, please contact:

Amy Koch
Director, Corporate Communications
media@orasure.com

Frequently Asked Questions

What is the purpose of the funding received by OraSure?

The funding is aimed at developing a rapid antigen test for Marburg Virus Disease to enhance outbreak response efforts.

What is the expected value of the awarded contract?

The contract is valued at approximately $7.5 million, with a potential total value of up to $11 million over multiple years.

How does the Marburg Virus test work?

The test will utilize a single-use lateral flow immunoassay to detect antigens from the Marburg virus, intended for individuals with symptoms or epidemiological risk factors.

What previous collaborations has OraSure had with BARDA?

OraSure has previously collaborated with BARDA for the InteliSwab® COVID-19 Rapid Test and enhancements of its OraQuick® Ebola Rapid Antigen Test.

Who can be contacted for more information about OraSure?

For investor relations, contact Jason Plagman; for media inquiries, reach out to Amy Koch via the provided email addresses.

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