Not Entirely correct, the $18 million invested was from Shepherd Kaplan Krochuk, LLC (SKK), a diversified Wealth and Asset Management firm located in Boston, Massachusetts.
The article reads they are allowing IBM use of its "compatible" metal oxide sensors to enhance and expand accurate rapid testing for several indicators (including covid-19).
This looks to be an enhancement, not replacement. PURE wouldn't drop $500k into SE1, with non disclosures behind closed doors, with a redundant sensor under development. SE1 have been allocated funding already on FDA approval, this reads as a bonus tick in the box for expanding it, allowing it growth to being a proper point of care device that records and maintians databases and functionality.
Either way, expansion on this news shall be welcomed and remains exciting in my opinion.
SE1 Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
