Shares fly at London-listed DeepVerge as Covid-19 detection tech passes trials
London-listed scientific research group DeepVerge has said today its wastewater Covid-19 detection technology has successfully completed trials.
The news sent the group’s shares flying this morning, rocketing 7.81 per cent and lifting its share price to 34.5p per share.
The Covid-19 detection tech, known as Microtox, offers another string to the UK and the rest of the world’s bow in combatting the virus.
“By establishing a permanent anonymised mass surveillance of wastewater, DeepVerge claims a world-first real-time defence against this global pandemic,” CEO Gerard Brandon said.
“The installation of Microtox wastewater units will enable live data to simultaneously identify the source of Covid-19 cases as well as identify Covid-19 clusters with the ability to indicate the size of each cluster.”
The tech uses artificial intelligence (AI) to predict the potential growth of clusters of the Covid-19 virus – or any other dangerous pathogen in the future, Brandon added.
The London-listed, Irish-founded group has made a deal with compliance and testing services group EPS to help install and maintain the Microtox equipment.
The system could act as an early warning system for outbreaks of the disease.
Earlier this year, DeepVerge agreed a major deal with China Resources to form a joint venture for the manufacture and sale of environmental monitoring equipment.
“We expect updates from our Joint Venture agreement with China Resources and roll-out in the US to follow early in Q3,” the CEO said.