08:50 AM EST, 12/02/2024 (MT Newswires) -- OraSure Technologies ( OSUR ) said Monday it received federal funding for the development of a Marburg Virus Disease rapid antigen test.

The initial contract award is valued at about $7.5 million over several years in the base period with up to $11 million in potential value, OraSure ( OSUR ) said.

The company said the award funds the development to achieve US Food and Drug Administration 510(k) clearance of a single-use lateral flow immunoassay to qualitatively detect antigens from viruses within the Marburg virus genus.

OraSure ( OSUR ) it got the award through the Rapid Response Partnership Vehicle, a consortium financed by the Biomedical Advanced Research and Development Authority, part of the US Department of Health and Human Services' Administration for Strategic Preparedness and Response.

Shares of OraSure ( OSUR ) were up 5% in premarket activity Monday.

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