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AnteoTech lodges bid for COVID test approval

Business

Brisbane based AnteoTech has applied for approval to sell its COVID-19 test kit in Australia.

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The company is marketing the rapid antigen test internationally but has so far been unable to sell in Australia.

Its success in getting approval overseas has seen the company’s share price surge 275 per cent in the past year. Its shares jumped another 7 per cent this morning following the announcement.

“If granted, TGA approval for registration will allow the company to progress the marketing, sale and use of its products in Australia,” AnteoTech said in a statement to the ASX this morning.

The Anteotech device is used by clinicians for mass testing rather than an over-the-counter product that is being marketed internationally by Ellume.

Chief executive Derek Thomson said approval would be a key milestone.

“A number of other countries in the region with large populations regard TGA approval as a critical benchmark of a product’s efficacy, so we expect this initiative, if sucessful, to open up additional sales for the company,” Thomson said.

The company has already completed a compliancy audit.

AnteoTech has also been working with distributor Abacus to progress training and business development activities.

 

 

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