GBS - GBS rises after announcing a collaboration for COVID-19 diagnostic

Despite the losses in the morning hours, the recently IPO’ed biosensor diagnostic technology firm GBS Inc. ([[GBS]] +2.9%) is rising after the company announced a collaboration with Wyss Institute for Biologically Inspired Engineering at Harvard University.Per the agreement, the two entities will work together to 'validate and de-risk' a COVID-19 diagnostic. It will integrate the Institute’s eRapid technology with GBS’ proprietary transistor sensor technology, a statement from GBS and Wyss said.The collaboration will enable simultaneous electrochemical sensing of multiple biomarkers related to COVID-19 in point-of-care diagnostic applications.GBS has lost more than half of its value since its IPO in December.

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GBS rises after announcing a collaboration for COVID-19 diagnostic