- Atomo Diagnostics (AT1) has entered an agreement with PinkTech Design Private (DIVOC) to launch its COVID-19 antibody test in India
- This agreement will see DIVOC distribute the AtomoRapid COVID-19 on a non-exclusive basis to government and corporate entities as well as India’s home-visit network
- Once DIVOC has obtained product registration approval for professional use, which is estimated for Q2 FY21, the Atomo will provide 77,000 antibody test kits
- Atomo will receive a fixed transfer price per unit as well as a percentage of revenue received on final product sales
- The AtomoRapid COVID-19 test is a single-use, handled, TGA approved device that gives an accurate result in as little as 15 minutes
- Users prick their finger to collect a blood sample, transfer it to the device, and then add a buffer solution and wait for the results
- Atomo is up 7.14 per cent on the market and shares are trading for 37.5 cents each
Atomo Diagnostics (AT1) has entered an agreement with PinkTech Design Private (DIVOC) to launch its COVID-19 antibody test in India.
This agreement will see DIVOC distribute the AtomoRapid COVID-19 on a non-exclusive basis to government and corporate entities as well as India’s home-visit network.
Once DIVOC has obtained product registration approval for professional use, which is estimated for Q2 FY21, the Atomo will provide 77,000 antibody test kits.
Atomo will receive a fixed transfer price per unit as well as a percentage of revenue received on final product sales.
The agreement will terminate if DIVOC fails to order one million units over the 12 months following receipt of regulatory approval in India.
The AtomoRapid COVID-19 test is a single-use, handled, TGA-approved device that gives an accurate result in as little as 15 minutes.
Users prick their finger to collect a blood sample, transfer it to the device, and then add a buffer solution and wait for the results.
“We are delighted to be able to offer our antibody rapid test in another large international market. Rapid testing forms a significant pillar of India’s response to managing the COVID-19 pandemic with the numbers of daily rapid tests increasing significantly in recent months,” Managing Director and Co-Founder John Kelly said.
“Our Indian partner is a high-quality provider of diagnostic services. We are confident of their ability to rollout the AtomoRapid COVID-19 antibody testing across a number of high-value channels in India in the coming months,” he added.
Atomo is up 7.14 per cent on the market and shares are trading for 37.5 cents each at 11:38 am AEST.