Royal Philips Wins $25 Million Contract From US Department of Defense for Infection Detection Technology

MT Newswires Live2024-10-29

Royal Philips (PHG) said Tuesday it won a four-year, $25 million contract from US Department of Defense to accelerate the development of its Rapid Analysis of Threat Exposure, or RATE, used to detect early pre-symptomatic infection in humans.

Over the next four years, the Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense will invest $25 million in the technology, the company said.

The RATE technology, which is in advanced development, uses biomarkers from wearables to predict infection, Royal Philips said, adding it was designed as an early warning system to decrease individuals' downtime and contain the spread of disease.

Price: 26.91, Change: +0.29, Percent Change: +1.10

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