Cue Health is turning its attention to the Omicron variant with its latest COVID-19 molecular test.
The San Diego, CA-based company said it was developing this point-of-care diagnostic and the project was part of its ongoing work with the U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority (BARDA) within the Office of the Assistant Secretary for Preparedness and Response.
Cue has worked with BARDA since 2018, when the Company received $30 million in base funding to accelerate the development and regulatory validation of over-the-counter and professional use Influenza and Multiplex Respiratory Pathogen diagnostic cartridges for the Cue Health Monitoring System.
In March 2020, Cue was awarded $13 million by BARDA to accelerate the development, validation, and FDA clearance of a portable, molecular diagnostic test capable of detecting SARS-CoV-2.
"An Omicron-specific test will assist clinicians in providing patients better treatment options and containment strategies at the time of a positive diagnosis," said Ayub Khattak, Co-Founder and CEO of Cue. "We are proud to partner with BARDA to develop this new test, which will help eliminate guesswork, provide more choices for patients, and strengthen public health outcomes for communities."
Since the pandemic began, Cue has had a record of bringing in significant financings and funding. Cue’s Series C round grew to $100 million in June of 2020. The company followed up on the financing with a $235 million private placement on May 14, 2021.