Diagnostics group Novacyt develops new tests to detect COVID-19, bird flu

[December 14, 2020]  PARIS (Reuters) - Clinical diagnostics group Novacyt, one of many healthcare companies whose shares have surged during the coronavirus pandemic, announced on Monday that it was developing three new tests to detect COVID-19 and bird flu.

The company said it was launching a research-use-only (RUO) polymerase chain reaction (PCR) test for a new strain of COVID-19, and developing two other new RUO PCR tests for avian influenza following recent outbreaks across Europe.

Novacyt's Paris-listed shares have surged by around 5,490% since the start of 2020, giving the company a market capitalisation of around 668 million euros ($810.8 million).

($1 = 0.8239 euros)

(Reporting by Sudip Kar-Gupta; Editing by Jan Harvey)

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