The La Jolla Institute for Immunology is a winner in XPrize’s $6 million rapid COVID-19 testing competition.
The well-known technology contest organizer named five winning teams in the competition on March 16. The others are ChromaCode and Reliable-LFC, both of Carlsbad, Alveo Technologies of Alameda and Mirimus of Brooklyn, N.Y.
Each winner is guaranteed $500,000. They will receive an additional $500,000 over the next few months if they hit milestones for mass-producing their COVID-19 tests.
Moreover, a $50 million venture capital fund called the COVID Apollo Project has pledged to work with the XPrize Foundation and others to bring testing innovations to market. The fund includes life sciences investors such as RA Capital and Bain Capital.
Well-known technology contest organizer XPRIZE named five winning teams in its $6 million Rapid COVID Testing competition on Tuesday and three of them are from San Diego County.
ChromaCode and Reliable-LFC, both of Carlsbad, joined the La Jolla Institute for Immunology as local winners in the challenge, which aimed to spark development of “radically affordable,” accurate COVID testing platforms with turnaround times of no more than 12 hours from sample to result.
Each winner is guaranteed $500,000. They will receive an additional $500,000 over the next few months if they hit milestones for mass-producing their COVID-19 tests.
Moreover, a $50 million venture capital fund called the COVID Apollo Project has pledged to work with XPRIZE Foundation and others to bring testing innovations to market. The fund includes seasoned life sciences investors such as RA Capital and Bain Capital.