BATM Advanced Communications Limited bounces as it launches new coronavirus

The new tests are already being shipped to several customers in Europe, with production being ramped up to fulfil more orders

BATM Advanced Communications Limited () said its Adaltis subsidiary has launched a new range of coronavirus (COVID-19) testing kits.

The networking tech and medical lab specialist said initial orders of the enzyme-linked immunosorbent assay (ELISA) serological testing kits, which diagnose if someone has had the disease by detecting antibodies in their blood, are now being shipped to several customers in Europe and that it is ramping up production to fulfil further orders.

READ: BATM says too early to assess impact of coronavirus on its business

BATM said the tests are complementary to two other coronavirus tests announced previously, adding that they “have the potential to play an important role in contributing to the strategy for lifting national lockdowns and enabling society to return to more normal activity”.

“Since the beginning of the [coronavirus] outbreak, we have been consistently launching more and more tools as soon as they were rigorously validated and certified by relevant regulatory authorities”, BATM chief executive Zvi Marom said in a statement.

“The serologic tests are now being provided to our customers at a time when they are most needed – to provide statistical information to decision makers. This, together with our other innovative initiatives, will help health authorities in preparing for a potential second wave of [coronavirus] in the winter months”, he added.

BATM’s shares climbed 20.7% to 70p in early trading on Tuesday.

–Adds share price–

Read MoreBATM Advanced Communications Limited bounces as it launches new coronavirus

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