Nanomix Selected as Finalist in XPRIZE Rapid COVID Testing Competition

Nanomix, a leader in the development of mobile, affordable, point-of-care diagnostics, today announced that XPRIZE has selected the company's eLab® COVID-19 assay as a finalist in the XPRIZE Rapid COVID Testing competition.

The Nanomix eLab COVID-19 Rapid Antigen test is a low-cost, easy-to-use, point-of-care test that provides results in 15 minutes with lab-quality accuracy. The battery-powered, handheld device utilizes proprietary biosensor and microfluidics technologies to perform an electrochemical detection in a single-use, disposable cartridge. eLab is a mobile platform that can test multiple biomarkers using multiple detection methods from a single patient sample in laboratory or non-laboratory environments - so any location, including rural or remote, can have rapid, lab-quality tests for COVID-19 and a variety of other diseases and conditions.

"Fast, affordable, and accessible testing is crucial to containing the COVID-19 pandemic and safely reopening schools, businesses and other vital institutions around the world," said Anousheh Ansari, CEO of XPRIZE. "XPRIZE Rapid COVID Testing competition is inspiring the best entrepreneurs and scientists to form teams and come together to work towards rapid, affordable COVID-19 testing at scale, and ultimately, getting the world up and running again."

"We are excited to be selected as a finalist in the XPRIZE Rapid COVID Testing," said David Ludvigson, CEO of Nanomix. "The goals of the competition ? to develop frequent, fast, low-cost, and easy-to-use COVID tests ? align with our corporate mission. The eLab Rapid COVID Antigen test, together with our eLab Rapid COVID Antibody test, form a complete offering for COVID-19 testing."

The Nanomix eLab is battery powered, portable, and easy-to-use by non-professionals in a variety of critical applications such as assisted living communities, skilled nursing facilities, emergency medical services, schools, businesses, and remote towns and villages.

Nanomix was previously selected as one of approximately 200 semifinalists out of more than 600 entrants. From among the 20 finalists, XPRIZE will select five winners in February, and each will be awarded up to $1M in prize money.

About Nanomix

Nanomix is a leader in the development of mobile point-of-care diagnostics, with a platform and assays that provide rapid, accurate, quantitative information for use in settings where time is critical to clinical decision making and improved patient care. The company's products are designed to broadly impact health care delivery by bringing diagnostics to the point of initial patient interaction, whether in the hospital or in pre-hospital, remote, or alternative settings, thus enabling faster clinical decision-making and potentially treatment-in-place. In addition to COVID antibody and antigen tests, the company is developing a deep pipeline of other high-value tests where the rapid availability of high-quality diagnostic information can improve patient outcomes. For more information, visit www.nano.com.

About XPRIZE Rapid COVID Testing

XPRIZE Rapid COVID Testing is the latest venture from the world's leader in designing and implementing innovative competition models to solve the world's grandest challenges, and its most unique in the organization's history. XPRIZE Rapid COVID Testing is a $5 million, 6-month competition that aims to increase COVID-19 testing capabilities 100-times past our current standard, the level of increase needed to more safely return to everyday activities.