[CentOS] Conversion of text in shell

Hi! I want to convert the lines
1.1,3.19e-4
1.2,3.05e-3
10.5,9.14e8
(as example)

to

1,1 & $3,19 \cdot 10^{-4}$\\
etc.. from one file and save these in a new file
Rly lost here except I know I should use regexp and MAYBE sed somehow :)
Thx for any help
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