- Atomo Diagnostics (AT1) has struck a distribution deal with PrEP Health for the Atomo HIV Self-Test, which is designed to rapidly diagnose HIV
- Under the deal, Atomo’s self-test device will be exclusively supplied to Australians through the PrEP online subscription service
- The test is designed to be an easy-to-use, rapid HIV diagnostic kit to go hand-in-hand with the Pre-Exposure Prophylaxis (PrEP) antiretroviral drug course
- Atomo has also officially launched a South African assembly and packaging facility to meet demand for its range of HIV testing products
- The facility was built in response to several international regulatory approvals for the Atomo test kits
- Still, it seems investors are happy to wait for some concrete revenue figures before placing any major buy orders
- Shares in Atomo are down 1.56 per cent this afternoon, currently trading at 31.5 cents each
Atomo Diagnostics (AT1) has struck a distribution deal with PrEP Health for the Atomo HIV Self-Test, which is designed to rapidly diagnose HIV.
The agreement will see the testing device, which is part of Atomo’s rapid diagnostic test (RDT) business, exclusively supplied to Australian users through the PrEP Health online subscription service.
Complementary testing and treatment
PrEP Health is named after Pre-Exposure Prophylaxis, which is a daily course of antiretroviral drugs (ARVs) made to reduce the chances of contracting HIV in at-risk people.
The drug is extremely effective at preventing HIV when taken with high adherence daily or on-demand. However, effective use of PrEP requires regular HIV testing, which is where Atomo’s self-testing device comes in.
The product is designed to be easy to use and convenient for regular testing without the need for a health professional present.
In fact, Atomo said in a recent independent study by the Wits Reproductive Health and HIV Institute (WRHI) in South Africa, 100 per cent of first-time users of Atomo’s self-test device reported that it was “easy to use”.
All of the users correctly interpreted the results of their self-test, which were 100-per-cent in line with results read by trained lab technician staff.
Importantly, Atomo said it expects the results of this study to support the commercial rollout of its HIV self-tests, with the data having already been shared with global health bodies responsible for awarding tenders for HIV self-testing.
Still, the company has already distributed its self-test kit to several countries since the start of July 2020 — including Australia, Germany, Vietnam, the U.K., South Africa, and more.
Rapid testing in Australia
Today’s news comes just a month after Atomo’s AtomoRapid HIV (1&2) professional-use HIV test landed Therapeutic Goods Administration (TGA) approval in Australia.
The test needs to be administered by health professionals but gives results in just 15 minutes, massively slashing waiting times associated with standard lab-based HIV tests.
Atomo said following last month’s TGA approval, it has been manufacturing enough devices for a commercial launch of the product in Australia in early 2021.
The TGA approval follows regulatory approvals from other major international regulators, including the British Standards Institution (BSI) and the World Health Organisation (WHO).
Following the string of approvals, Atomo has officially launched an assembly and packaging facility in South Africa to meet demand for its range of HIV test products.
Company Managing Director John Kelly said Atomo is very happy with the progress it has made throughout 2020.
“We have invested in increased capacity and we are well-placed to support our international distribution partners as they offer our best-in-class HIV rapid tests throughout the world,” John said.
“And we are also seeing increased demand for our products in our home market of Australia, which is extremely gratifying,” he added.
Nevertheless, despite the largely-positive business update, it seems investors are still waiting for some concrete revenue figures before clinching any significant buy orders.
Shares in AT1 are down 1.56 per cent this afternoon, trading at 31.5 cents each at 1:58 pm AEDT.