Renesas Ramps Up Chip Volume to Support First FDA-Authorized At-Home Test for COVID-19

Rhea-AI Summary

Renesas Electronics Corporation (TSE:6723) is ramping up to supply a synchronous boost converter for the Lucira™ COVID-19 All-In-One Self-Test Kit, FDA-authorized for at-home testing. This kit provides results in 30 minutes, significantly faster than lab tests that take up to seven days. With over 600 million tests administered in the U.S. this year, Renesas aims to meet high demand for this innovative testing solution, supporting efforts against the COVID-19 pandemic.

Positive

• Delivery of synchronous boost converter for Lucira's FDA-authorized COVID-19 test kit.
• Anticipated high demand signaling market potential for Renesas's semiconductor solutions.
• Speed and efficiency in ramping up production to support critical healthcare solutions.

Negative

• None.

The Lucira™ COVID-19 All-In-One Self-Test Kit Delivers Results Within 30 Minutes

TOKYO--(BUSINESS WIRE)-- Renesas Electronics Corporation (TSE:6723), a premier supplier of advanced semiconductor solutions, today announced that it is delivering a synchronous boost converter solution in high volume for the first at-home COVID-19 test authorized by the United States Food and Drug Administration (FDA). Renesas prioritized a steep ramp-up for this kit to meet anticipated high demand.

Renesas Delivers Power Converter for Lucira Health's At-Home COVID-19 Test Kit (Photo: Business Wire)

Testing is a key weapon in the fight against COVID-19 with over 600 million tests administered in the United States so far this year. The FDA issued an Emergency Use Authorization (EUA) to Lucira Health, Inc., a medical technology company focused on the development and commercialization of transformative and innovative infectious disease test kits, for its single-use, user-friendly Lucira™ COVID-19 All-In-One Test Kit that can produce a positive or negative result at home within 30 minutes. This is significantly faster than labs that currently take up to about seven days to generate similarly accurate test results. Lucira’s test kit is differentiated by its simple “swab, stir and detect” design.

“We’re particularly pleased to contribute to Lucira’s important COVID-19 self-testing kit,” said Kris Rausch, Vice President of Americas Sales for the IoT and Infrastructure Business Unit at Renesas. “As part of our corporate-wide efforts, Renesas has prioritized customers and solutions that help society battle this global pandemic.”

“Delivering the first single-use, at-home, molecular test kit for COVID-19 was a tremendous achievement of which we are extremely proud,” said Erik T. Engelson, President & CEO at Lucira. “It’s a testament to our technology, as well as the dedication and speed of our team. We required the same exceptional technology and speed from our suppliers, and Renesas quickly ramped-up to deliver exactly what we needed.”

Renesas’ Commitment to Fighting COVID-19

Renesas delivers key solutions that are essential in helping society deal with the current pandemic. Healthcare, air purification, air quality monitoring, networking and mobility solutions from Renesas are being employed by customers around the world to enable a “new normal.” More information is available at www.renesas.com/about/press-center/covid-19.

About Lucira Health

Lucira is a medical technology company focused on the development and commercialization of transformative and innovative infectious disease test kits. Lucira’s testing platform produces lab quality molecular testing in a single-use, consumer-friendly, palm-size test kit powered by two AA batteries. Lucira designed its test kits to provide accurate, reliable and on-the-spot molecular test results anywhere and at any time. The LUCIRA™ CHECK IT COVID-19 Test Kit (OTC) and LUCIRA™ COVID-19 All-In-One Test Kit (Rx) are designed to provide a clinically relevant COVID-19 result within 30 minutes from sample collection. For more information, visit www.lucirahealth.com.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram.

All names of products or services mentioned in this press release are trademarks or registered trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211102005467/en/

Americas

Don Parkman

Renesas Electronics Corporation

+ 1-408-887-4308

don.parkman.xh@renesas.com

Greg Chodaczek

Lucira Health

investorrelations@lucirahealth.com

347-620-7010

Source: Renesas Electronics Corporation

FAQ

What is Renesas Electronics Corporation's role in the Lucira COVID-19 test kit?

Renesas is supplying a synchronous boost converter essential for the FDA-authorized Lucira COVID-19 All-In-One Self-Test Kit.

How fast does the Lucira COVID-19 test kit provide results?

The Lucira COVID-19 test kit delivers results in just 30 minutes, significantly faster than traditional lab tests.

What is the market demand for the Lucira COVID-19 test kit?

There is a high demand for the Lucira COVID-19 test kit, with over 600 million tests administered in the U.S. this year.

What is the significance of the FDA authorization for Lucira's test kit?

The FDA authorization allows Lucira's at-home test kit to be used widely, providing accessible and rapid testing solutions.