London-listed Novacyt (AIM:NCYT)  has sold and received orders for over £17.8m of its COVID-19 diagnostic test kit, and says the rate of demand for the test continues to increase.

The biotechnology firm said it has seen “unprecedented demand” with its subsidiary, Primerdesign, having won a new order in India - its largest single order to date - worth £1.4m.

The group said that it was now selling its CE-marked coronavirus tests to more than 80 countries, with the Middle East becoming the strongest selling region -- with orders of £1.6m received in less than two weeks.

“We continue to report unprecedented demand for our COVID-19 test as the rate of growth in orders increases each week and continues to exceed our expectations,” said Graham Mullis, CEO of Novacyt.

On Friday, Novacyt also received regulatory approval for its test from the National Administration of Drugs, Foods and Medical Devices (ANMAT) in Argentina.

Shares in Novacyt were trading 19.35% higher at 203.5p during Monday trading.

He added, “As a result, and despite our best efforts to ensure we are fully prepared to meet demand, the rate of sales growth is beginning to be restricted by our ability to scale-up manufacturing as quickly as we would like.”

Novacyt highlighted its objective of making as many tests available to as many clinicians as quickly as possible as “an immediate priority.”

The group has therefore committed to purchasing additional raw materials to produce a further 18m COVID-19 tests, this morning’s statement detailed.

The group’s directors have also increased the level of output contracted with its European-based third-party manufacturer, BioType Diagnostic, which will enable the company to produce more than 4 million tests per month.

Elsewhere in Europe, Novacyt is supplying its COVID-19 test to more than 21 hospitals in the UK and in Ireland, orders for £1.1 million tests have been received.

“We continue to evaluate additional capacity enhancing options to address the global demand for our COVID-19 test,” added Mullis.

The total number of coronavirus infection cases globally crossed 700,000 over the weekend, according to data compiled by Johns Hopkins University. 

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