(Yicai Global) June 1 -- Share of Zhejiang Orient Gene Biotech raised over 10 percent this morning on the news that a kind of coronavirus antibody test cassette developed by its wholly-owned unit received emergency use authorization from U.S. Food and Drug Administration.

The firm [SHA:688298]'s share, which was up 11.79 percent this morning at CNY128.37 (USD18), is allowed to raise up to 20 percent daily instead of 10 percent that most of Chinese listed firm face as it went public on the Star Market.

The IgG/IgM antibody test cassette developed by its US subsidiary Healgen Scientific secured the above-mentioned EUA on May 29 local time, per the statement.

The product is for qualitative detection and differentiation of IgM and IgG antibodies against severe acute respiratory syndrome coronavirus 2, or SARS-CoV-2, in human venous whole blood, plasma and serum and can be used as an aid in identifying individuals with an adaptive immune response to SARS-CoV-2, which indicates a recent or prior infection, the statement introduced.

Besides the above-mentioned test cassette, a 2019-nCoV nucleic acid test kit (fluorescence polymerase chain reaction) developed by Huzhou-based Zhejiang Orient Gene Biotech secured medical device registration certificate issued by the China National Medical Products Administration on May 21.

Editor: Ben Armour