TT Electronics, a global provider of engineered electronics for performance critical applications, announced that it has been working with British start-up iAbra, and its partners including Intel to design, develop and test the prototype Virolens system and to specify and design the manufacturing processes for its commercial launch. Additional details can be found from today's RNS update here.
The Virolens system which provides test results for COVID-19 in 20 seconds has been launched, following successful trials at London Heathrow Airport over recent weeks. The Virolens COVID-19 screening device uses microscopic holographic imaging and artificial intelligence (AI) software technology to detect the presence of the COVID-19 virus from a non-intrusive saliva swab test within 20 seconds. The device does not need to be administered by healthcare professionals and is expected to be used in airports, offices, sports venues and many other locations where people need to be in close proximity to each other. For further information see the IDTechEx report on AI in Medical Diagnostics 2020-2030: Image Recognition, Players, Clinical Applications, Forecasts.
TT has been appointed exclusive manufacturing partner for the commercial launch of Virolens®, which incorporates several TT proprietary products. Working in collaboration with iAbra and the global supply chain, TT has successfully taken the product from concept to production in just 14 weeks.
TT will manufacture Virolens at its Hartlepool, UK facility, part of its Power and Connectivity division, for this launch phase, creating a number of new jobs and opportunities for the site and the local economy. Initial orders for devices and testing cartridges which will be delivered to potential launch customers in September and October 2020 total a value of circa £2 million, and opportunity from expressions of interest could reach £280 million in the next 12 months.
This additional revenue is dependent on iAbra's end customers converting their expressions of interest into firm orders and subject to Virolens® meeting regulatory authority requirements. Delivery of these further orders could commence in Q4 2020 and would continue into 2021.
Richard Tyson, CEO of TT Electronics said: "I am proud that we are a core part of the team behind the ground-breaking Virolens programme. This project is evidence of the success of our strategy to position the business in higher technology, structural growth markets, using our engineering expertise to develop products in collaboration with our customers. Virolens has the potential to be a major step forward in dealing with the impact of the COVID-19 pandemic, by allowing safer access to places of work, transport and events. TT's leading-edge products and flexible manufacturing capabilities provide significant support to critical aspects of the Virolens device. This programme also has the potential to deliver a step change in TT's organic growth and to accelerate the achievement of our target operating margins. Assuming the launch is successful, there are significant opportunities around the world for further orders."
About TT Electronics plc
TT Electronics is a global provider of engineered electronics for performance critical applications. With around 5,000 employees operating from 29 key locations around the world, TT designs and manufactures a wide range of electronics for sensing, power management and connectivity primarily for applications in the industrial, medical and aerospace and defense sectors. For more information about TT Electronics visit www.ttelectronics.com .
Katelyn M. DeVan
Vice President, Global Marketing
T: +1 440 358 5205
MPowered Public Relations
T: +1 877 794 6777
Source: TT Electronics
Top image: Pixabay