Orasure Enters into $75M agreement with AbbVie for Rapid Hepatitis C Test
OraSure Technologies, a Bethlehem, Pa.-based developer and manufacturer of oral fluid diagnostic and collection devices, announced in the summer of 2014 it had entered into an agreement with biopharmaceutical company AbbVie, which will pay OraSure $75 million for exclusive rights to sell its rapid hepatitis C test through 2019. OraSure’s HCV test is the only federally-approved rapid test for the virus and provides results in as little as 20 minutes, allowing patients to be referred for treatment immediately. Additionally, federal agencies and private-sector entities approached OraSure this year to investigate whether its technology for in-home HIV tests could be used to screen or the Ebola virus. The testing technology is easy to use, produces a quick result, and, unlike current Ebola tests, does not require blood to be drawn. Go here and here to learn more.