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- Atomo Diagnostics (AT1) has secured a COVID-19 antibody test licensing agreement, through its European manufacturing partner NG Biotech
- Under the expanded agreement, NG Biotech has given Atomo the exclusive rights to market and distribute its COVID-19 antibody test in Australia, New Zealand and number of countries in South East Asia
- Atomo is now focusing on gaining regulatory approval in Australia, the Philippines, Hong Kong and Taiwan, before moving on to other jurisdictions
- So far, the company has submitted its application to the Therapeutics Goods Administration to get the tests approved for professional use in Australia
- Atomo Diagnostics is up 9.52 per cent in early trade, with shares priced at 34.5 cents each
Atomo Diagnostics (AT1) has secured the exclusive rights to market and distribute COVID-19 antibody tests, through its European manufacturing partner NG Biotech.
The two companies formed a manufacturing agreement earlier this year. Through the agreement, Atomo is supplying rapid test devices to be used in NG Biotech’s branded COVID-19 tests, which are sold in France.
Since the agreement was announced, NG Biotech has ordered 1.5 million devices from Atomo for use in the antibody tests.
Under the expanded agreement, NG Biotech has given Atomo the exclusive rights to market and distribute the COVID-19 antibody test in Australia and New Zealand, as well as number of countries in South East Asia.
As the listed manufacturer, Atomo also retains the right to market the tests under its brand.
However, while Atomo retains the rights, it will still need to gain the relevant approvals to sell and distribute the tests in each country.
To begin with Atomo is focusing on gaining approval in Australia, the Philippines, Hong Kong and Taiwan, before moving on to other jurisdictions.
Toward this end, the company has already submitted its application to the Therapeutics Goods Administration (TGA) to get the tests approved for professional use in Australia.
Atomo’s co-Founder and Managing Director John Kelly hopes the company can reflect NG Biotech’s sales success in the European market.
“Atomo is delighted to have secured exclusive rights to market, as the listed manufacturer, the COVID19 test which NG Biotech has successfully launched in Europe with initial sales to the French Ministry of the Armies and a number of public hospitals, following strong results in independent French clinical studies,” he said.
Currently, Atomo is not paying any royalty fees for the rights and the length of the licensing agreement remain open-ended. The two companies are currently negotiating a longer-term licencing agreement.
Atomo Diagnostics is up 9.52 per cent in early trade, with shares priced at 34.5 cents each.
