Client & Alumni News

OraSure Earns $205M Federal Contract for Rapid COVID-19 test

POSTED ON Wednesday, September 22nd, 2021 IN CLIENT & ALUMNI NEWS

BFTP alum client OraSure Technologies, Bethlehem, secured a $205 million contract from the Defense Logistics Agency to supply its InteliSwab over-the-counter COVID-19 test kits as part of the national pandemic response. OraSure will provide the test to up to 25,000 sites throughout the United States and the tests will be funded by the U.S. federal government. The contract will run from October 2021 through September 2022.

The company expects to ramp up production during the remainder of 2021 to meet the contract, and so it expects most of the revenue from the contract to be coming in during 2022.

The InteliSwab, which received Emergency Use Authorization from the Food & Drug Administration, is used by swiping the lower nostril and gives rapid test results. The test does not need to be administered by a professional making it more convenient in non-medical settings. Via Lehigh Valley Business

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