SINGAPORE (June 24): Shares in Singapore eDevelopment (SeD) surged as high as 79% to 10 cents following its announcement of its in-vitro success against Covid-19 with its biotechnologies.

Earlier today, SeD’s wholly-owned subsidiary Impact Biomedical said it has successfully proved in-vitro success of Equivir, an over-the-counter (OTC) medication, and 3F Biofragrance, a surface disinfectant, against Covid-19.

Currently, no known COVID-19 vaccines or preventive medication have been developed.

The tests were conducted and confirmed by an independent university laboratory, which was contracted to challenge the compounds against the SARS-CoV-2 virus in their advanced Biosafety Level 3 containment facilities.

On June 11, Impact Biomedical, together with Global Research and Discovery Group Sciences (GRDG), had their Covid-19 research published in the peer-reviewed scientific journal Molecules.

The research was conducted in collaboration with Harvard Medical School and Vilotos Pharmaceutical, Inc. (Vilotos).

See: Singapore eDevelopment subsidiary discovers potential medicines to inhibit Covid-19 in peer-reviewed scientific journal

Shares in Singapore eDevelopment closed 3.6 cents higher, or 64.3% up, at 9.2 cents on Wednesday, following the announcement.