COVID RAPID TEST GAINS APPROVAL IN EUROPE
ANTEOTECH will roll out its rapid COVID-19 test in Europe over the next few months joining fellow biotech Ellume in the fight against the pandemic.
ASX-listed AnteoTech said it had received CE mark registration for the test that can detect the virus within 15 minutes and process up to 60 patients an hour. AnteoTech said it had manufacturing facilities in Spain ready to start making the testing kits from later this month as borders open up across Europe.
AnteoTech is one of the first Australian companies to receive European regulatory approval for a rapid COVID-19 test, allowing it to immediately enter the market of 447 million people.
The CE mark indicates conformity with health, safety and environmental protection standards for products sold within the European Economic Area and the UK.
Brisbane-based AnteoTech’s technology, which detects the virus using a molecular surface coating “glue”, is already used in Ellume’s test which recently received US Federal Drug Administration approval to roll out in the world’s biggest economy.
Brisbane-based Ellume won a $US235m ($309m) contract with the US Department of Defence in February for the manufacture and distribution of its rapid COVID-19 test across the armed forces.
AnteoTech CEO Derek Thomson said the European regulatory approval was a key milestone in the company’s strategy to build a global market for its products.
“We believe we have a superior test with high sensitivity,” Mr Thomson said.
“We can be ready to start production in April from facilities in Spain. It will allow us to capture a share of the growing and evolving antigen rapid testing market in
Europe and the UK.”
AnteoTech shares rose 6 per cent to 26.5c.