ADO Article in Daily Telegraph & Herald Sun 9/2/2021

Shares in another Brisbane-based biotech have almost doubled off the back of COVID technology after it developed a rapid test that can be used “thousands of times over”.

ASX-listed AnteoTech is six weeks away from launching its own rapid test in Europe after providing a key component for fellow Brisbane biotech Ellume’s test, which secured a $US230m ($297.91) contract with the US Department of Defense.AnteoTech’s shares have soared more than 90 per cent since the start of the month, to 19c.It comes as Ellume — which uses AnteoTech’s surface coating technology called ‘Anteobind’ and is a key element in its antigen test — won the US contract.

AnteoTech is now ramping up production of its own rapid test, which aims to complement Ellume’s by being reusable rather than a one-off over-the-counter test and therefore better suited to a clinical or commercial setting. The company is also targeting Europe rather than the US, where Ellume is concentrating most of its energy.AnteoTech chief executive Derek Thomas said its rapid test was 95-97 per cent effective in detecting COVID-19, subject to pending clinical trial results and did not aim to compete with Ellume’s. AnteoTech chief executive Derek Thomas said its rapid test was 95-97 per cent effective in detecting COVID-19, subject to pending clinical trial results.“It’s a different technology and different market set. (Ellume’s test) is a one-only use cassette and reader for the home market. Our test is a reader that you use repeatedly - it’s a very high-end UV light reader.

“You can do many thousands of reads on our reader, so it’s the clinical setting that we are targeting. And that clinical setting is in the hospital or doctor’s office or in a screening scenario such as an airline or cruise ship.”FROM OUR PARTNERS Stream the NBA on ESPN on Foxtel now New customers get a 10 day free trialMr Thomas expected AnteoTech to launch its own rapid test in Europe by April - nine months after the company announced its proof of concept.“We have been in development since March last year and we announced to the market in July that we had our working proof of concept. Since that time we have been pulling all the elements of the test’s commercialisation together to get it manufactured and distributed. “We are coming to the end of that now. We are planning to launch in April so we have a busy six weeks to get our CE, regulatory approval in Europe.

We are right at the pointy end of the process now.”Ellume founder and CEO Sean Parsons.Like Ellume’s chief executive Sean Parsons, Mr Thomas said he had a similar frustration about the lack of interest from the Australian government about rapid tests, despite being perceived as the key to returning the world to some kind of normalcy, allowing crowds to fully return to stadiums, employees to offices and more planes in the air.“I think the time has come for us to have the debate and work out what we need to do with rapid testing for screening in general for patients in Australia and take a leaf out of the jurisdictions overseas. It has worked effectively overseas and been an effective tool for the control of the pandemic,” Mr Thomas said.“The way that I speak to the government about it (is) in terms of a clinical response — controlling the pandemic but also an economic response. More CoveragePub emerges from ashes to sell for $30m“An assurance of an environment being COVID-free provides the opportunity for businesses to open up again. “If we can do that effectively with a rapid test, especially a saliva based one, it provides that assurance and confidence for people.”