The Government is scrambling to get the cash back from two firms after labs found they were not accurate enough to be used.
Boris Johnson has said antibody tests – which will show if someone has had the virus in the past and may now be immune – could be a “game-changer” and may help end the lockdown measures.
It is hoped that they will be as easy as a finger prick blood test, with the results in minutes.
Those who have had the bug already may be allowed to return to work or have restrictions lifted.
But across the world not one test has yet been reliable enough to use, and it could take up to 20 days for them to show the antibodies needed.
The New York Times claimed that $20million (£16million) were spent on the kits which did not work, but the British Government has not commented on the figure.
The newspaper claimed that sellers were demanding answers on orders and full payment in less than 24 hours.
Ministers have also ordered the research and development of antibody kits in the UK in the hope that scientists may be able to develop our own version, which would be accurate enough to use.
The Department of Health has said the Government had ordered the smallest number of tests allowed by the sellers and that it would try to recover the money.
A Department of Health and Social Care spokesperson said: “We are currently working with a number of companies on finding fast, reliable antibody tests and are in the process of evaluating their effectiveness.
“These tests could be transformational and we are working round the clock to gain regulatory approval.
“It is crucial we are satisfied of their safety and accuracy before making them available.
“We have bought our current stock on the basis of minimum initial volumes, which are being clinically tested. If tests don’t work, orders will be cancelled and costs recovered wherever possible.”
Meanwhile, Britain is desperately trying to ramp up testing to 100,000 a day – of the current swab tests which show if someone currently has the virus.
However, despite being four weeks on from promise to get to 25,000 a day, this has still not been reached.
Around 15,000 were tested up to 9am on Wednesday, No10 said yesterday.
Downing Street has said there is capacity for 35,000 tests a day, but this is not yet being used.
They blamed the long Bank Holiday weekend for a lack of demand from NHS staff.
