- Atomo Diagnostics (AT1) secures a $900,000 purchase order for its HIV self-tests from Newfoundland Diagnostics
- The order is for the immediate supply of Atomo’s self-test product to the UK-based diagnostics company, subject to AT1 updating its existing HIV Self-Test CE certificate
- Atomo says it expects to see “significant growth” in the European market with this new commercial relationship
- As a result of the new deal, Atomo has terminated its previous HIV distribution agreement with Owen Mumford covering the UK and other European markets
- Atomo Diagnostics shares are trading at 4.8 cents at 12:44 pm AEDT
Atomo Diagnostics (AT1) has secured a $900,000 purchase order for its HIV self-tests from Newfoundland Diagnostics.
The order is for the immediate supply of Atomo’s self-test product to the UK-based diagnostics company, subject to AT1 updating its existing HIV Self-Test CE certificate to include relevant distributor information and branding.
The Atomo HIV self-test is a discreet, highly-accurate and easy-to-use test using a finger prick blood test, which provides results within 15 minutes. The test has been proven to correctly identify 99.6 per cent of HIV-negative and HIV-positive samples.
Newfound has established extensive distribution networks in Europe across public health, pharmacy and retail channels, and the two parties anticipate this purchase order will be the first of many.
Atomo CEO John Kelly said the company was “delighted” to have received this initial order from Newfoundland.
“We believe they are an ideal commercial partner for our HIV products, as well as potentially a range of other at-home tests that we are looking to commercialise,” Mr Kelly said.
“We are seeing an increase in HIV sales volume globally and now expect to see significant growth in the European market with this new commercial relationship.
“These developed healthcare markets offer significantly improved margins when compared to our global health HIV business and will continue to be a key focus for us as we seek to diversify our sales across different markets to achieve volume and margin improvements.”
The two companies are currently working to rapidly conclude a comprehensive agreement for the supply of Atomo’s HIV products to Newfoundland for Europe.
As a result of the new deal, Atomo has terminated its previous HIV distribution agreement with Owen Mumford covering the UK and other European markets.
Atomo Diagnostics shares were trading at 4.8 cents at 12:44 pm AEDT.