The company, which was swamped by investors wanting to buy its shares in a recent capital raising, said the Brisbane site would produce about 12 million test strips a year and was expected to be in operation next year.

Its EuGeni test platform is capable of producing a much quicker COVID-19 test than other brands.

It said the strategy would allow the company to bring new tests to market quickly, more cost-effectively as well as provide additional manufacturing to meet the demand for the EuGeni tests.

It said that under its deal with Spain’s Operon it took eight months to transfer the technology.

It will establish a facility at Eight Mile Plains to produce the test strips with the funds recently raised.

Chief executive Derek Thomson said the strategy would enable quick and effective production.

He said capacity of 12 million test kits could be increased.

“We are excited about the prospect of leveraging new cassette assembly and packaging capability around the globe.

“We are moving swiftly to harness this opportunity to align with the expected increase for EuGeni tests in the future.”