Following on from the announcement made on the 25th March 2021, TT Electronics plc (LON:TTG) has confirmed that the Medicines and Healthcare products Regulatory Authority, which is responsible for ensuring that medical devices meet applicable standards of safety, quality and efficacy, has registered Virolens® for use and sale in Great Britain and iAbra has been granted Certificates of Free Sale.
This is a welcome milestone in the development of the Virolens technology.
Virolens® is a rapid COVID-19 screening device for which TT Electronics is the exclusive manufacturing partner.
Revenues to TT from the sale of Virolens following the MHRA approval are dependent on iAbra’s potential end customers in Great Britain converting expressions of interest into firm orders.
A high proportion of the commercial interest in Virolens to date has been outside of Great Britain and any revenues resulting from this interest require further regulatory approval in those territories.
There continues to be a wide range of potential commercial outcomes and hence no certainty as to the financial impact on TT.
