The Toronto-based firm received positive lab results for BioCloud testing against the live virus that causes COVID-19 following two successful tests against the dormant SARS-CoV-2 virus, it said in a statement.
Shares of Kontrol flew on the news, gaining 62% to reach C$4.86 on the Canadian Securities Exchange and 60.4% over the counter at US$3.60.
BioCloud is an unobtrusive wall-mounted technology with a real-time analyzer designed to detect airborne viruses by sampling the air quality over time. The unit has a proprietary detection chamber that can be replaced as needed if and when viruses are detected. An alert system is created in the cloud or over local intranet.
The Canadian company is preparing the technology for applications in schools, hospitals, long term care facilities and mass transit vehicles, according to a statement.
"There is a critical need for technology that can provide us with assurances that the workplaces, schools, healthcare environments and other spaces we physically occupy are safe and free of infectious disease. Today, we have that in BioCloud," said Paul Ghezzi, Kontrol’s CEO.
"Our team has been working day and night since the onset of the pandemic to bring this exciting technology to market. It will be an invaluable tool to enhance the existing system of individual testing and contact tracing."
Kontrol will start commercializing BioCloud by initiating an application to the CSA Group for independent certification and has already started discussions with two global outsource contract manufacturers who can provide external manufacturing capacity, the company told shareholders.
The unit is expected to cost around US$12,000 based on supply chain components.
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