Introduction to OSPRI
A new biotechnology company in McKinney has ambitions to become the world’s first fully integrated platform for polymerase chain reaction (PCR) testing — the same technology behind a common COVID-19 test. Three Texas health care and biotechnology companies — McKinney-based Community Direct DX and Tyler-based Scienetix and Advanta Genetics R&D — announced Tuesday they have merged to form OSPRI, a name chosen as a play on the fish-eating raptor.
The new enterprise — which aims to streamline the development, manufacturing and distribution of tests — is also backed by $30 million from New York–based investment firm Catalio Capital Management. “PCR testing is way too difficult, and it’s way too expensive,” said co-founder Steve Sorey. “We are changing that.”
What is OSPRI?
OSPRI specializes in PCR testing across different health areas. The company said its tests can help providers simplify testing procedures, boost capacity and get results faster while shaving off up to half of the cost when compared to market alternatives.
“OSPRI exists to solve the real problems of cost and complexity in infectious disease testing,” chief clinical officer Alaina Vincent said in a statement. “Innovation should be accessible — not exclusive.”
How Does OSPRI Work?
Sorey said OSPRI’s vertically integrated business model is unique. It researches diseases, develops new PCR tests, manufactures them in-house and distributes them to the market. The company also works with health care providers to set up labs for running tests. “We can build your lab, we can put the science in your lab, and we can oversee your lab,” Sorey said.
Growth and Expansion
Under the new corporate structure, Sorey said the company expects to add more than a dozen PhD-level scientists to its research and development team and grow its sales force by about 20. This expansion will enable OSPRI to further develop its PCR testing capabilities and increase its presence in the market.
COVID-19 and the Resurgence of PCR Testing
The new enterprise comes as COVID-19 is on a resurgence across the country, according to data from the U.S. Centers for Disease Control and Prevention. The CDC says Texas is one of five states with a very high level of viral activity, based on wastewater monitoring.
The current spike consists mainly of the virus’s XFG variant, nicknamed “Stratus,” which was first reported in the U.S. in March. For Sorey, the COVID pandemic made PCR a household name, but using the technique to detect the virus is only scratching the surface of the technology’s potential.
Future of PCR Testing
The PCR market is set for massive growth, according to Sorey, especially in diagnosing urinary tract infections and sexually transmitted infections. By making PCR testing easier and cheaper, he said more providers will be able to bring it in-house, giving more patients access.
“We want to make [PCR testing] a more cost-effective and easier process for more widespread adoption, quit centralizing it to big corporate laboratories and allow the doctors to be involved in the process,” he said.
Conclusion
In conclusion, OSPRI is a new biotechnology company that aims to revolutionize the PCR testing industry by making it more accessible, affordable, and efficient. With its unique vertically integrated business model and backing from a major investment firm, OSPRI is well-positioned to make a significant impact in the healthcare industry.
Frequently Asked Questions
What is PCR testing?
PCR testing, or polymerase chain reaction testing, is a technology used to detect and diagnose infectious diseases such as COVID-19.
What does OSPRI do?
OSPRI is a biotechnology company that specializes in PCR testing across different health areas, aiming to simplify testing procedures, boost capacity, and reduce costs.
How will OSPRI make PCR testing more accessible?
OSPRI plans to make PCR testing more accessible by developing new tests, manufacturing them in-house, and distributing them to the market, as well as working with healthcare providers to set up labs for running tests.
What is the future of PCR testing?
The PCR market is expected to experience massive growth, especially in diagnosing urinary tract infections and sexually transmitted infections, as OSPRI and other companies work to make PCR testing easier, cheaper, and more widely available.
