Industrial conglomerate 3M Company is partnering with the Massachusetts Institute of Technology to develop a cheaper, quicker COVID-19 test.
Right now, test results can take anywhere from a few hours to a week. Quest Diagnostics, for instance, said the average turnaround time at its labs is currently seven days.
3M's new test would function more like a pregnancy strip, a rapid paper-based test that could be mass-produced and quickly distributed at the point of care.
"In terms of patient experience, what we're looking to do is create that low-cost, highly-accurate, simple-to-use test that would be accessible to a lot of people," Dr. John Banovetz, chief technology officer for 3M, told Cheddar.
The antigen-based test, which looks at proteins on the virus, would offer a "preliminary view" of a patient's coronavirus status — though ideally, patients would follow up with a doctor, he added.
"Our goal would be a point-of-care test, so maybe it's taken in a doctor's office. Maybe you pick it up at the pharmacy," Banovetz said.
The goal is to start producing tests by the end of summer or early fall. Once manufacturing is rolling, 3M could produce millions of tests per day, according to the company.
As cases surge across the country and many anticipate a second wave in states where the infection rate has dropped off, calls for more testing are growing.
More than 41 million tests have been reported to the CDC, with a 9 percent positivity rate, but the U.S. continues to lag behind other countries by some measures.
In the meantime, the Trump administration is relying on the private sector to meet the demand for tests, putting pressure on companies such as 3M to come up with a solution.
"We're going as quick as we can right now," he said. "Our focus is trying to get that accuracy up and in a way that we know that we can mass-produce it. That's really where 3M can help contribute to this, our ability to be able to commercialize and bring to market new ideas and innovations."
After two decades of engineering, over $10 billion, and a series of delays, the most powerful telescope built by NASA is finally scheduled to launch on Saturday. The James Webb Space Telescope was built to provide a fresh look at the universe by detecting light that is invisible to the human eye and to reveal new information about the universe's oldest stars and galaxies. Lou Strolger, observatory scientist and deputy head of instruments division, space telescope, joins Cheddar News.
Carlo and Baker kick off the weirdest week of the year with all the news you missed over the holiday weekend, including calls for the CDC to shorten its isolation window as Omicron sweeps through the country.
The 2022 Winter Olympics will be without some of hockey's biggest players. The NHL and the NHL Player's Association have agreed to not participate in the men's hockey tournament at the Games in Beijing next year. The league has been forced to postpone some games because of a rise in COVID-19 cases among players. Washington Post sports reporter Samantha Pell joins Cheddar News' Closing Bell to discuss what this could mean for the Winter Olympics and the sport of hockey.
The National Highway Traffic Safety Administration has opened a formal investigation into Tesla. The agency is looking into about 580,000 Tesla vehicles, and a feature called 'Passenger Play' which allows drivers to play video games on the center touch screen. The feature previously only worked when a vehicle was in park; but, the NHTSA says it has confirmed that the feature has been available while vehicles are in motion since December of 2020. iSeeCars.com executive analyst Karl Brauer joins Cheddar News' Closing Bell to discuss.
Baron Davis and Kate Hudson want you to bring cannabis home for the holidays. The cannabis-infused seltzer brand Cann released a new spot featuring the actress and former NBA player. The campaign comes hand in hand with Cann's launch of a new holiday bundle, which includes its product with Hudson's King Street Vodka. Davis and Hudson are also Cann investors. Cheddar cannabis reporter Chloe Aiello spoke to Davis about his involvement with the company and its new campaign.
Healthcare workforce management platform ShiftMed
recently announced a $45 million funding round.
The company's platform connects nurses and healthcare professionals to hospitals and other healthcare providers.
ShiftMed's new funding comes amid widespread labor shortages in the healthcare sector. The company's CEO Todd Walrath joins Cheddar News' Closing Bell to discuss.
Universities like UCLA, Yale, and Duke have announced they're implementing remote learning amid the COVID omicron variant surge, despite President Biden recommending that K-12 schools should continue in-person education. Jared C. Bass, senior director for Higher Education at American Progress, joined Cheddar to break down what institutions of higher education might be considering differently. "I think some universities are allowing periods of a bit of a respite to allow students to get testing and make sure when they do return back to campus that they're healthy," he noted.
Supply chain issues have become one of the biggest roadblocks for the U.S. EV market, with production woes likely to stunt the industry's growth in 2022. Rich Steinberg, electric vehicle expert and industry advisor, told Cheddar that the Biden administration investing in domestic mining for essential minerals used in battery manufacturing — such as lithium — could help alleviate the bottlenecks. "Some of those same materials are available domestically, they just haven't been prioritized," he said, noting the paradox between green tech and "dirty" mining. "The good news is that there are ways to extract those materials cleanly."
Hyperfine, the pioneer of the very first FDA-approved portable MRI device, made its public debut on the Nasdaq via a SPAC merger. CEO Dave Scott joined Cheddar's "Opening Bell" to discuss the IPO launch, the company's valuation at $580 million, and the impact of its machine called Swoop. "We can roll an MRI system, our MRI Swoop system, right into the room where you are, right up to your patient bedside, and scan you right there and get an image in less than an hour," he explained.
Dr. Rob Davidson, Executive Director of the Committee to Protect Health Care and an ER Physician in West Michigan, joins Cheddar News to break down the expectations of Pfizer's new COVID-19 treatment pill.
