Novacyt joins AstraZeneca and GSK in UK effort on COVID-19 testing

As part of the UK government’s announcement of a new five pillar plan to increase testing for COVID-19, French clinical diagnostics company Novacyt (AIM: NCYT) is collaborating with AstraZeneca (LSE: AZN), GlaxoSmithKline (LSE: GSK) and the University of Cambridge to take action to support this national effort.

The news pushed Novacyt’s shares up more than 21% to 260.50 pence by mid-day London trading, while the two British pharma majors were not much changed.

A new testing laboratory will be set up by AstraZeneca, GSK and the University of Cambridge at the university’s Anne McLaren laboratory. This facility will be used for high throughput screening for COVID-19 testing and to explore the use of alternative chemical reagents for test kits in order to help overcome current supply shortages.