Concepta launches ‘highly-accurate’ COVID-19 testing service

Francesca Morgan
RNS Newswires
10:01, 2nd December 2020


Concepta (AIM: CPT) FOLLOW has today launched a “highly accurate” direct to consumer COVID-19 lab-based test which the group said will help drive awareness over the Christmas period. 
 
The testing service will be launched under the personalised healthcare company’s new MyHealthChecked™ brand, the umbrella brand of a range of at-home DNA and RNA test, which has been in development following the recent acquisition of The Genome Store.  
 
The first test swab kit available will be ‘a fast and reliable direct to consumer  COVID-19 lab-based PCR test available to the UK public via a new ecommerce website.’ 
 
The service will use the Clarigene® SARS-CoV-2 test supplied by Yourgene Health plc and the PrimeStore® MTM sample collection device supplied by EKF Diagnostic Holdings plc. 
 
The MyHealthChecked™ testing service allows samples to be ‘quickly and conveniently’ taken at home using simple nasal collection swabs which are then sent via free postage for processing using established laboratory-based DNA and RNA detection methods. 
 
The company said the newly acquired team has delivered the launch of this COVID-19 testing service to an efficient timescale, ‘enabling an awareness drive to the public ahead of the Christmas period at a time when members of the public are making holiday plans.’ 
 
While the UK awaits the incoming vaccine roll-out, the requirement for at home testing kits is still expected to continue. Last week, the Transport Secretary even announced a new testing scheme where a negative coronavirus results could reduce quarantine periods.  
 
CPT expects to launch a number of DNA tests covering a range of female and male wellness, food intolerance and lifestyle testing, and develop a pipeline of tests from Q1 2021.  
 
MyHealthChecked™ will offer consumers a range of simple to use DNA tests across key healthcare areas, and target pricing affordably to improve accessibility for the public. 
 
"As our pipeline development continues and we invest in our plans to build a sustainable, long term business, we're proud to be delivering on this short-term opportunity with a high quality, highly accurate coronavirus swab kit and testing service,” said CEO, Penny McCormick. 
 
She added, “Our priority is to look beyond the pandemic with a range of affordable, meaningful at-home test kits, but it would be remiss of us - now with the expertise and operational channel in-house - not to make this kit available to the public. 
 
We fully support the government's testing programme, whilst providing a solution for those who wish to test independently for requirements like travel, or for personal reasons.” 
 
In addition, the Company has confirmed that it will change its name to MyHealthChecked™ Plc. Trading in the Company's shares on the AIM market of the London Stock Exchange under the new name is expected to take effect in due course and the Company's stock exchange ticker is also expected to change from CPT to MHC, Concepta told investors. 
 
Shares in Concepta have jumped by over 80% since the beginning of November 2020 to open 13.12% higher to 1.81p this morning following the announcement. 

CPT price chart

Reasons to Follow Concepta 
Concepta is a UK healthcare company that has developed proprietary products and platforms, which targets the personalised mobile health market. Concepta said its products will initially address the specific needs of women with fertility issues, in particular unexplained infertility.  
  
Fully Funded Development  
  
Its 1H20 results published in September 2020 highlighted that additional funds were being channelled into product and commercial development of its home-use personalised fertility tracking and pregnancy self-testing system relaunched under the MYLO® brand.   
  
Progress to Commercialisation  
  
Whilst the focus during the period was one of ‘reorganisation and recapitalisation’ of the business, the company detailed that the opportunity within the pre-IVF space was ‘clear’.  
  
‘The proposition of MYLO® is to empower women to better understand their hormone levels and menstrual cycle and help women conceive naturally by identifying their precise and personal window of fertility and optimal time for conception.’   
  
During the period, the Company successfully completed the commercial launch of MYLO® brand with digital marketing campaigns and full optimised search engine strategy to drive UK commercial sales with over 4,000 App downloads achieved during the period.   
  
Portfolio Expansion into Adjacent Areas of Personalised Health  
Concepta said that whilst its current focus remains on accelerating UK sales growth, it’s also plans on expanding into new markets, widening its portfolio to include a broader mix of female health and personalised healthcare products.  
  
Follow News & Updates from Concepta here: FOLLOW

 

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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