Market-proven technologies in this intellectual property transaction offers many advantages over traditional PCR testing.
BOULDER, Colo., May 18, 2023 - Transformative Biotech, LLC, announced its acquisition of Summit Biolabs' industry-leading, patent-pending technologies for extraction-free/direct-to-PCR testing on May 10, 2023. With the asset purchase now complete, Transformative Biotech's team will immediately work to broaden the adoption of these new technologies. In addition to other benefits, these technologies significantly reduce the time and expense required to process PCR tests, wherever molecular testing for infectious diseases or cancer is performed.
"The technologies we acquired are proven in commercial clinical testing," said Transformative Biotech's CEO, Russ Hullet. "Summit Biolabs made a significant contribution to combating the COVID-19 pandemic by using these direct-to-PCR technologies to process around 600,000 molecular diagnostic tests for SARS-CoV-2 in their high-volume clinical laboratory at the Fitzsimons/CU Anschutz Medical Campus over fifteen months and achieved a savings of more than 75% on lab expenses versus that of extraction-based PCR testing. The financial efficiencies and reduced space and equipment requirements for direct-to-PCR testing will be of great benefit to laboratories domestically and internationally. Licensees of this technology will garner tremendous competitive advantages."
In addition to cost savings, Transformative Biotech's pathogen collection and transport buffer allows for stabilization of different sample types, including from nasal swabs and saliva, making testing for viral or bacterial infections simpler and more straightforward. Furthermore, the innovative, patent-pending buffer permits molecular diagnostic testing for infectious diseases in both at-home and point-of-care settings.
Adding to these advantages, Transformative Biotech's technologies will not only offer the traditional positive/negative pathogen detection typically produced from a PCR test, but also allow for determining the viral load in viral samples. Knowing the amount of a virus in a sample is knowledge that doctors have typically not had access to when trying to determine the success of a particular treatment protocol.
In summary, these disruptive new technologies:
Create dramatic cost savings through direct-to-PCR testing for infectious pathogens, including viruses and bacteria;
Offer the ability to collect different sample types, such as nasal swab or saliva samples, and test for infectious pathogens, such as viruses or bacteria;
Enable molecular diagnostic testing for infectious pathogens in at-home or doctors' office/point-of-care settings;
Test for more than one pathogen in one sample with multiplex capability;
Enable determination of viral load in swab or saliva samples, empowering physicians to treat patients more effectively.
"We believe these significant and compelling direct-to-PCR technologies offer tangible advances for where and how PCR testing is performed in the near future. At the same time, these methods give physicians new tools to perform their jobs more effectively," adds Hullet. He continues, "In addition, our research indicates this exciting patent-pending IP portfolio includes the first-to-file patent applications for extraction-free PCR, which I believe creates further motivation for industry adoption."
Russ Hullet would like to thank the team at Summit Biolabs for their tremendous work developing and commercializing these technologies, the most significant development in PCR technology since its inception in 1985. Transformative Biotech is honored to carry these breakthrough PCR technologies forward to a wider market for the benefit of more patients, researchers, and healthcare providers.
About Transformative Biotech
Transformative Biotech is a startup biotechnology company focused on deploying rapid, highly accurate, direct-to-PCR technologies with the power to transform molecular testing for infectious diseases and cancer.
SOURCE Transformative Biotech, LLC
