Shares of biotech Chembio Diagnostics Inc CEMI got a dramatic boost in the arm Monday morning.
The Medford, New York-based firm announced a partnership with Integrated BioTherapeutics, Inc to develop and continue to maintain "exclusive rights to any POC (Point of Care) product developed through (their) agreement."
Chembio will combine its patented DPP(R) technology with IBT's proprietary Ebola reagents to develop POC diagnostic tests for Ebola and febrile illness.
At time of writing, shres were trading at a robust pace. Volume was up over 600 percent, when compared to Chembio's average three-month trading volume.
The stock was recently up 14.5 percent at $4.56, from previous close of $3.99 per share.
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