AT1 4.76% 2.0¢ atomo diagnostics limited

COVID-19, page-12

  1. 190 Posts.
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    This today.....

    The Company's entry into a binding supply agreement for the supply of Atomo devices to be used for a blood-based lateral flow rapid test
    to detect Covid-19 virus with NG Biotech, Inc (NG Biotech), an existing OEM customer of the
    Company in France. The initial order under the agreement is for the supply of 397,200 devices, which
    represents the Company’s available inventory and next production batch available for sale in early
    April. The agreement provides NG Biotech with the right to issue purchase orders for up to a total of
    2.465 million devices (including the initial 397,200 devices) in the 2020 calendar year, which may
    increase or decrease subject to Atomo's production capacity. NG Biotech commits to order at least
    70% of the monthly quantities agreed with Atomo and should NG Biotech fail to meet its minimum
    order commitment, then Atomo shall be released from its commitment to reserve capacity of 2.465
    million devices for NG Biotech. The Company and NG Biotech intend to enter into a further binding
    purchase agreement for the ongoing supply of Atomo products beyond 2020.

    Looking good.
 
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