Nordic Capital-backed Binding Site delivers new Covid-19 test kit in record time, contributing to improved diagnosis of the virus
September 03 2020
Nordic Capital portfolio company, Binding Site, a market leader in specialist protein diagnostics and leader in diagnosis and monitoring of multiple myeloma and other forms of blood cancer, based in Birmingham, UK, has launched a new test to detect COVID-19 antibodies in people with recent exposure, who are non-hospitalised or have mild symptoms. This is the largest target population for COVID-19 testing.
The SARS-CoV-2 Antibody ELISA test was developed in partnership with the University of Birmingham’s Clinical Immunology Service, using over 800 blood samples taken from people who had mild to moderate disease, including over 100 samples from healthcare workers in Birmingham. The test is already being used in many of the clinical studies conducted at Birmingham hospitals, and is expected to be rapidly adopted by surveillance teams seeking to understand the distribution of infection in the population, as well as vaccine researchers who need to assess antibody responses in clinical trials.
The new ELISA test specifically detects antibodies (IgG, IgA, and IgM) to the SARS-CoV-2 trimeric spike protein. The test was designed to detect all three antibodies as they appear at different times after infection, which increases the likelihood of detection at the earliest possible stage after exposure to the virus. Studies undertaken by the Company show that this new test has a greater level of sensitivity, especially for patients with mild disease or at an earlier stage after infection, because the new test uses different viral components to many of the tests that were launched earlier in the year.
This latest development is a natural progression for Binding Site, utilising its world-renowned knowledge of 35-years in developing highly precise, accurate blood tests for protein and antibody diagnostics. The company already produces over 35 million in vitro diagnosis (IVD) tests per year for sale globally and expects this UK manufactured product to be in high demand.
Jonas Agnblad, Partner, Nordic Capital Advisors, commented: “We believe that companies and individuals have an important role to play in the fight against COVID-19 and its many impacts on business and society. Binding Site is a great example of this, contributing its significant expertise in antibody and specialist protein diagnostics to improve the accurate diagnosis of COVID-19. A better detection of SARS-CoV-2 antibodies will play a major role in fighting the disease as the development of a vaccine continues.”
Charles de Rohan, CEO of Binding Site, commented: “The long-standing partnership with the University of Birmingham has brought together unrivalled academic, clinical and commercial expertise, and the combined team worked together seamlessly and quickly to deliver this unique and forward-thinking test in record time. We are very proud to be part of this partnership and the fight against COVID-19.”
Many of Nordic Capital’s portfolio companies are making positive contributions to the fight against Covid-19. For more details, please follow this link: https://www.nordiccapital.com/news/contributing-to-the-fight-against-covid-19-nordic-capital-portfolio/
To hear more about the project please follow this link to watch a video
To read more about Binding Site, view Media Enquiries page for a Fact Sheet and Corporate brochure.
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
Claire Cooper, Head of Global Communications
About Binding Site
Binding Site was founded in 1986 by a group of former researchers based at the University of Birmingham and is recognised today as a market leader in the development of products for the investigation of a range of disorders involving immunodeficiency. Its product range covers immunoglobins, subclasses, vaccine response and complement.
The Company is built on the success of its people which includes some of the best R&D staff helping to shape the future of diagnostics; it recognises the value of its employees and looks to provide development and support opportunities to maximise the potential of its 1,100 staff (over 750 are based at its flagship headquarters in Birmingham UK). Over the last five years TBS has grown 100% and recruited and trained over 40 apprentices. In 2019 Binding Site generated over £150m in revenue enabling it to further invest in people and new products. Binding Site has a direct presence in over 25 countries and product sales through business partners in more than 100 countries.
Accreditations include ISO13485:2016, ISO9001:2015, MDSAP Certificate 689555 as well as 4 Queens Awards for Export Growth and Innovation.
About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Core sectors are Healthcare, Technology & Payments, Financial Services and Industrials & Business Services. Key regions are Northern Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested more than EUR 15 billion in over 110 investments. The Nordic Capital vehicles are based in Jersey. They are advised by several non-discretionary sub-advisory entities based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which are referred to as Nordic Capital Advisors. For further information about Nordic Capital, please visit www.nordiccapital.com
Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded or associated investment vehicles and their associated management entities. Nordic Capital is advised by several non-discretionary sub-advisory entities, any or all of which is referred to as “Nordic Capital Advisors”.