Genetic testing company Prenetics leveraged a UK-based subsidiary to buy Oxsed having piloted the latter's rapid coronavirus screening system.
Oxsed, a UK-based rapid coronavirus testing spinout of University of Oxford, was acquired for an undisclosed sum on Friday by China-headquartered genetic testing services provider Prenetics’ DNA Fit Life Sciences subsidiary.
Founded in May 2020 as an impact-led enterprise, Oxsed is the creator of an RNA-driven coronavirus swab capable of results comparable to conventional lab tests within about 30 to 45 minutes.
Prenetics began piloting the technology last week to screen passengers arriving in its home territory of…
