Business Today
Loading...

Reliance signs $15 million deal with Israeli firm for rapid COVID-19 test kits

The Reliance Group will purchase hundreds of COVID-19 breath testing system from the Israeli company for $15 million. The group will use them to conduct millions of tests at a cost of $10 million per month

twitter-logoBusinessToday.In | January 27, 2021 | Updated 22:50 IST
Reliance signs $15 million deal with Israeli firm for rapid COVID-19 test kits
Representative Image

Reliance Group has signed a $15 million deal with Israeli company Breath of Health to distribute the firm's COVID-19 breath testing system. The tests conducted by the company provides result in less than a minute, said Arie Laor, CEO of Breath of Health (BOH).

BOH is said to have developed a breath test system that identifies COVID-19 at a success rate of over 95 per cent. "It takes a few seconds to get the result," Laor said.

Laor added that BOH had operated under the radar till date to focus on its clinical trials and the development of its system. BOH began developing the system, two years ago, to provide early detection for Alzheimer's, cancer and lung disease.

The Reliance Group will purchase hundreds of COVID-19 breath testing system from the Israeli company for $15 million. The group will use them to conduct millions of tests at a cost of $10 million per month, according to the business portal Calcalist.

The agreement would help accelerate the trials. Laor is also expecting results to be announced in the coming weeks. Reliance, which will lead research of the system in the country, will also distribute the platform throughout India and in the Far East.

BOH's preliminary results from clinical trials, which it is conducting with Israeli hospitals the Sheba Medical Center at Tel HaShomer and Hadassah Medical Center, have shown a success rate of 98 per cent when compared to the standard PCR test authorised by global medical organisations.

Also Read: Bharat Biotech's COVID-19 vaccine works on UK strain too: study

Also Read: SBI appoints Swaminathan Janakiraman, Aswini Kumar Tewari as MDs

Also Read: Anti-China sentiment waning? Xiaomi reclaims No 1 position in Q4 2020, Samsung slips to second spot

  • Print
  • COMMENT
BT-Story-Page-B.gif
A    A   A
close