Parallax registers with US grant portal in effort to win CDC contract grant to develop 15-minute coronavirus test

Parallax Health Sciences Inc (OTCMKTS:PRLX) has received preliminary approval for registration on the US government's System for Award Management (SAM), a key step that will allow it to work with the Centers for Disease Control and Prevention (CDC) to develop a 15-minute coronavirus (COVID-19) detection test. The company is seeking a contract grant from the Atlanta-based agency’s Small Business Group to further develop its immunoassay diagnostics analyzer to detect coronavirus.  Through its subsidiary Parallax Diagnostics Inc, the company is undertaking a partnership strategy to develop, acquire or license monoclonal and polyclonal antibodies, which can be used to develop a coronavirus test. The idea is to deliver the test in conjunction with the manufacturing and distribution of the company’s patented and Food and Drug Administration 510(K) approved VT-1000 Immunoassay diagnostic platform. READ: Parallax subsidiary makes telemedicine app immediately available to US doctors as coronavirus spreads Parallax has received 26 FDA 510(K) approvals for biomarkers used in conjunction with the VT-1000 desktop unit, the company said. “We are committed to working with those parties in the federal, state and local governments as well as the laboratories and universities in the private sector to making our diagnostic analyzer and testing kits available in the healthcare community as quickly as possible,” CEO Paul Arena said in a statement. Nathanial Bradley, the company's chief technology officer, appeared on Fox News last Friday to discuss the test. Additionally, Parallax’s integrated remote patient monitoring and diagnostic platform Good Health Outcomes can be useful to assess and comfort patients in their homes and determine which patients need to be seen in the hospital or go to urgent care, the company said. The platform can enable healthcare providers to treat isolated patients and help to prevent spread. Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com  Follow him on Twitter @andrew_kessel