Join our daily newsletter At The Bell to receive exclusive market insights
- Atomo Diagnostics (AT1) has received an unscheduled purchase order from French company NG Biotech to supply 422,000 COVID-19 blood test devices
- The additional order comes after the French company’s earlier purchases of 947,200 devices between late March and mid-April – bringing the total orders to 1.369 million devices
- The rapid blood tests are used to detect the presence of COVID-19 antibodies, and can deliver results in just 15 minutes
- The companies are now in talks about expanding the sales footprint for the tests in other territories, including the U.S., pending FDA approval
- Atomo is currently ramping up production capacity, with the first phase scheduled to come online in July this year
- Atomo Diagnostics stocks have risen 7.9 per cent off the back of this morning’s announcement, with shares priced at 48 cents each
Rapid blood test manufacturer Atomo Diagnostics (AT1) has received an unscheduled purchase order from French diagnostics company NG Biotech to supply 422,000 COVID-19 blood test devices.
The additional order comes after the French company’s earlier purchases of 947,200 devices between late March and mid-April – bringing the total orders to 1.369 million devices.
The rapid blood tests are used to detect the presence of COVID-19 antibodies, and can deliver results in just 15 minutes.
The NG Biotech rapid test is CE Marked for professional use for COVID-19 testing in Europe — meaning it has approval for sale across the Eurozone.
The companies are now in talks about expanding the sales footprint for the tests in other territories.
Atomo Co-Founder and Managing Director John Kelly says the added demand means the company will have to increase production.
“We are excited about continuing to scale up our supply to NG Biotech as it starts to rollout the COVID-19 rapid test in France,” he said.
“We remain in active discussions with NG Biotech regarding the potential expansion of our COVID-19 partnership across other territories and intended uses,” John noted.
“Discussions with two U.S.-based companies in relation to commercialisation of COVID-19 tests (subject to FDA approval) are progressing positively and we continue to have discussions related to the supply of COVID-19 tests to the Australian market.”
Atomo Co-Founder and Managing Director John Kelly
Atomo is currently ramping up production capacity, with the first phase scheduled to come online in July this year, and further increases planned for the second half of 2020.
Atomo Diagnostics stocks have risen 7.9 per cent off the back of this morning’s announcement, with shares priced at 48 cents each as at 11:55 am AEST.
