Genscript Biotech posts best gain in 15 months after US regulator approves use of Covid-19 neutralising antibodies test kit
- Company claims its cPass kit is the first commercially available test to specifically detect neutralising antibodies without the use of live virus
- Tests can be completed in an hour and does not require biosafety containment, Genscript says
Genscript Biotech’s shares jumped by the most in more than 15 months in Hong Kong after US regulators approved the use of the company’s test kit on an emergency basis to detect neutralising antibodies in people infected by Covid-19.
“The cPass kit is the first commercially available test to specifically detect neutralising antibodies in patient samples without the use of live virus,” the Chinese gene and cell therapy company said in a filing to Hong Kong stock exchange late on Friday.
Genscript surged as much 18 per cent to HK$13.36 and closed at HK$12.58 for an 11.3 per cent advance, the biggest one-day win since end-July 2019.
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Infection with viruses including SARS-CoV-2 causes the body to produce two kinds of antibodies – binding and neutralising. The former attach themselves to viral proteins, but they do not “neutralise” the virus or prevent infection, while the latter do both. Testing for neutralising antibodies plays an important role in research on the virus, tracking infections and vaccine development.