Queensland biotech firm AnteoTech has gained European accreditation for its rapid COVID-19 testing platform and will now move to commercialising products as it waits to receive accreditation from Australian health authorities.
The outer Brisbane-based health tech developed a 15 minute COVID-19 test using proprietary binding technology coupled with assay detection systems which provides decision-making support for the early detection and isolation of infected patients.
The Queensland government offered $1.4 million in funding through its Essential Goods and Supply Chain program, which allowed the company to progress the test kit from prototype towards a launch.
On Monday, the ASX-listed company announced it had received Conformitè Europëenne Mark registration for its EuGeni Reader and the in vitro rapid diagnostic test for detecting COVID-19 antigens, allowing it to formalise marketing and distribution discussions with European and UK distributors, who expect to offer the reusable test in mass programs such as concerts and sporting events.
Queensland Premier Annastacia Palaszczuk welcomed the approvals.
“Now AnteoTech is taking the pandemic fight to Europe,” the Premier said.
“This is world leading technology being produced in Queensland and exported overseas. We’ll continue to support our best and brightest to develop technology that can create jobs here in Queensland and help fight the global pandemic.”
AnteoTech still needs approval from the Therapeutic Goods Administration to begin local manufacturing and to be able to sell the kits to the Australian market. But the approval from European authorities opens the door to exports to Europe and the UK and will accelerate commercialisation in Australia, according to Queensland Treasurer and Minister for Investment Cameron Dick.
“This tick from Europe will help AnteoTech accelerate commercialisation of their product in Australia, generating more than $2 million in private sector investment and creating five new jobs while strengthening vital industry supply chains,” Mr Dick said.
Once launched, the health tech expects to produce test kits at its Eight Mile Plains facility in Brisbane’s south and partner with local manufacturers to scale up production.
“With the support of the Queensland Government, we hope not only to successfully deliver this project, but create valuable supply chains to ensure the success of future projects,” AnteoTech chief executive Derek Thomson said.
“I would also like to thank the Queensland Government for their contribution through the Essential Goods and Supply Chain Program, to the commercialisation of our test and platform.”
The Queensland Essential Goods and Supply Chain Program was stood up in May last year to support local manufacturers and businesses impacted by COVID-19 through. So far funding through the $50 million program has gone to manufacturers of PPE, COVID-19 tests, and biotech.
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