- AnteoTech (ADO) has produced a multiplexed platform of tests which are designed to rapidly detect COVID-19 as well as Flu A and B
- Currently, the standard tests require expensive equipment, highly-trained staff and more time
- These tests leverage AnteoTech’s AnteoBind technology and Axxin’s AX-2X-S Lateral Flow Reader
- Together, these antigen, rapid, point of care tests have the potential to disrupt the market by providing a more sensitive and timely diagnosis
- Next phases of development, such as design, approvals and clinical studies are expected to take between six to nine months
- Company shares have soared 72.7 per cent and are trading for 3.8 cents each
AnteoTech (ADO) has produced multiplexed proof of concept antigen tests which are designed to rapidly detect COVID-19 and Flu A and B.
The two standard approaches to detecting COVID-19 are a swab test or a blood sample.
Blood samples test the presence of antibodies which are produced days, or even weeks, after the initial infection. While the swab test is more efficient, it requires expensive equipment, highly-trained staff and can take several hours to generate results.
AnteoTech has developed a proof of concept for two separate rapid tests – one is for antigens and the second is for antibodies. It is designed to deliver higher sensitivity and results in just 15 minutes.
The company produced the proof of concept assays using Axxin’s AX-2X-S Lateral Flow Reader. AnteoTech owns the IP for the assays developed and Axxin owns the IP for the reader used to produce the results.
The COVID-19 development program was initiated in late March when the company realised it can leverage its AnteoBind-activated Europium particle technology in the fight against the virus.
AnteoTech also has the chance to include testing of Flu A and Flu B, that were developed in 2018 and 2019 as part of its model assay development program of the multiplex assay.
Once completed, AnteoTech believes the test will fill an unmet need in the diagnostic response to COVID-19 by providing high sensitivity and increased detection. This allows earlier detection and the potential to detect COVID-19 from saliva and mucus samples.
“All the company including myself are immensely proud to have made the decision to develop this test as we believe our competency and product is unique and can make a substantial difference in the global fight against the COVID-19 virus,” CEO Derek Thomson said.
The next phases will include development to optimise the tests, improve the lower limit of of detection, validate the design, conduct clinical studies, receive regulatory approvals and prepare for manufacturing. These could take anywhere between six to nine months.
Company shares have soared 72.7 per cent and are trading for 3.8 cents each at 11:58 am AEST.