10 June 2020 | News
Atomo secures exclusive rights for Australia, New Zealand and South East Asia
Image credit- shutterstock.com
Australian firm Atomo Diagnostics Limited is pleased to announce it has expanded its existing COVID-19 rapid test partnership with France based NG Biotech, SAS (NG Biotech), which was announced to ASX on 14 April 2020 in Atomo's Second Supplementary Prospectus (Second Supplementary Prospectus).
Under Atomo's existing binding supply agreement with NG Biotech referenced in the Second Supplementary Prospectus, Atomo has been supplying NG Biotech with its award-winning Galileo rapid test device for use in NG Biotech's blood-based rapid antibody IgG/IgM COVID19 test (the COVID-19 antibody test) which is branded 'NG Test IgG / IgM COVID19' when sold by NG Biotech in Europe. To date, NG Biotech has ordered in excess of 1.5 million Galileo devices from Atomo for use in NG Biotech's COVID-19 antibody test in France.
Under the expansion of the Atomo NG Biotech partnership, Atomo now has exclusive rights to market and distribute, as the listed manufacturer, the COVID-19 antibody test in Australia and New Zealand and a number of countries in South East Asia, subject to obtaining the required regulatory approvals in each jurisdiction, under the brand 'AtomoRapid[TM] COVID-19 (IgG/IgM)'.
At present, the period of exclusivity has not been specified (ie. it is not currently limited) and Atomo and NG Biotech are continuing to negotiate a definitive long term supply agreement. The pricing arrangements with NG Biotech are limited to a price payable per unit only and do not include any licence fees or royalties.
The exclusive rights arrangement for Australia, New Zealand and a number of South-East Asian countries is strategically important for Atomo as it repositions Atomo as a listed manufacturer of COVID-19 tests, building on its foundation of being the only manufacturer of a TGA approved Class 4 Self-Test in Australia, listed as the 'Atomo HIV Self-Test' on the Australian Register of Therapeutic Goods (ARTG).