Meridian Bioscience Receives Additional NIH Award to Support the Rapid Development of the Revogene® Molecular Viral Respiratory Testing Panel

Rhea-AI Summary

Meridian Bioscience (NASDAQ: VIVO) has secured an additional $2.5M funding from the NIH's RADx initiative, supplementing an existing $5.5M award. This funding aims to enhance the research, development, and production of the Revogene^® molecular viral respiratory diagnostic testing panel, which detects SARS-CoV-2, RSV, and influenza A/B. The investment will facilitate improvements in manufacturing efficiency to meet rising demand for accurate respiratory testing as COVID-19 transitions to an endemic phase. Meridian emphasizes the critical role of this testing in providing timely patient care.

Positive

• Secured additional $2.5M funding from NIH, increasing total awarded funding to $8M.
• Funding will support enhanced production capabilities for the Revogene testing panel.
• The Revogene panel addresses critical respiratory infections and aligns with market demand.

Negative

• None.

CINCINNATI, Jan. 31, 2022 /PRNewswire/ -- Meridian Bioscience, Inc. (NASDAQ: VIVO), a leading global provider of diagnostic testing solutions and life science raw materials, announced today that it has been awarded additional funding in the amount of $2.5M by the National Institute of Health (NIH) Rapid Acceleration of Diagnostics (RADx^®) initiative. This award expands the scope of the original $5.5M award to help support the research, development, and increased production of the company's Revogene^® molecular viral respiratory diagnostic testing panel.

The funding is provided as part of the RADx Tech program that NIH launched to speed innovation in the development, commercialization, and implementation of technologies for COVID-19 testing. The Revogene respiratory panel will simultaneously detect SARS-CoV-2, respiratory synovial virus (RSV), and influenza A/B infections. The expanded NIH investment not only offsets the cost of development but also enables Meridian to enhance its PIE device manufacturing line to increase throughput and improve labor efficiency to meet the expected demand for this viral respiratory panel.

"We are excited and grateful for the continued partnership with NIH and their support of the Revogene testing platform," said Tony Serafini-Lamanna, Executive Vice President - Diagnostics. "As COVID-19 moves from a pandemic to an endemic public health concern, our customers are requesting highly accurate respiratory testing panels to help speed and differentiate diagnosis so patients can get the best treatment and on the road to wellness. We believe our Revogene viral respiratory panel will meet that need."

This project has been funded in whole or in part with Federal funds from the National Institute of Biomedical Imaging and Bioengineering, National Institutes of Health, Department of Health and Human Services, under Contract No:75N92021C00003.

To learn more about the Revogene testing platform, please visit www.meridianbioscience.com/revogene.

About Meridian Bioscience, Inc.
Meridian is a fully integrated life science company that develops, manufactures, markets, and distributes a broad range of innovative diagnostic products. We are dedicated to developing and delivering better solutions that give answers with speed, accuracy, and simplicity that are redefining the possibilities of life from discovery to diagnosis. Through discovery and development, we provide critical life science raw materials used in immunological and molecular tests for human, animal, plant, and environmental applications. Through diagnosis, we provide diagnostic solutions in areas including gastrointestinal and upper respiratory infections and blood lead level testing. We build relationships and provide solutions to hospitals, reference laboratories, research centers, veterinary testing centers, physician offices, diagnostics manufacturers, and biotech companies in more than 70 countries around the world.

Meridian's shares are traded on the NASDAQ Global Select Market, symbol VIVO. Meridian's website address is www.meridianbioscience.com.

Contact:
Charlie Wood
Vice President – Investor Relations
Meridian Bioscience, Inc.
Phone: +1 513.271.3700
Email: mbi@meridianbioscience.com

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SOURCE Meridian Bioscience, Inc.

FAQ

What is the recent funding announcement for Meridian Bioscience (VIVO)?

Meridian Bioscience announced an additional $2.5M funding from the NIH's RADx initiative to expand the development of its Revogene testing panel.

How much total funding has Meridian Bioscience received from NIH for the Revogene panel?

With the recent award, total funding from NIH for the Revogene panel has increased to $8M.

What does the Revogene testing panel detect?

The Revogene testing panel simultaneously detects SARS-CoV-2, RSV, and influenza A/B infections.

Why is the NIH funding important for Meridian Bioscience (VIVO)?

The NIH funding is crucial as it supports increased production capacity and addresses the growing need for accurate respiratory testing.

When was the funding announcement made by Meridian Bioscience?

The funding announcement was made on January 31, 2022.