TPI provides its latest research note on DeepVerge plc (DVRG.L).

Deepverge has published initial data from its ongoing Phase III clinical studies for the detection of SARS-CoV-2 from samples of breath condensate and identification of confirmed COVID-19 positive patients.

The studies demonstrated detection and identification of the virus S-Protein in quantities as low as 40 femtogram per millilitre (‘Fg/mL’) at close to 100% sensitivity and specificity on DeepVerge’s Microtox® BT nano-optofluidic chip. Capable of being confirmed within 60 seconds and indicating a nine-times increase in the digital spectrum signal when using Microtox® BT, compared to controls of nano-optofluidic chips with binding agents, this represents the passing of a significant technological milestone.

Although additional supervised breath test clinical trials from a larger group of patients now need to be completed, Deepverge’s management consider these will provide sufficient data to meet the ‘desired’ and ‘acceptable’ criteria specified in the UK Target Product Profile (‘TPP’) that should, in turn, enable the product to secure its CE marking followed by a broad roll-out for COVID-19 (and other pathogen) breath tests which might be expected before the end of 2021.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to DeepVerge plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2021 Turner Pope Investments (TPI) Limited, all rights reserved.

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