Diagnostic stock Atomo soars 12pc after scoring RAT distribution rights in New Zealand
Health & Biotech
Health & Biotech
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Australian medical device company and global supplier of rapid diagnostic testing devices (RDT), Atomo (ASX: AT1) has scored distribution rights for rapid antigen tests in New Zealand, after being authorised by the New Zealand Ministry of Health under its Covid-10 Public Health Response 2020 Order.
Atomo announced the green light yesterday, noting that the approval extends to both professional and self-testing. That means New Zealand District Health Board hospitals, government agencies, healthcare workers, businesses and pharmacies are authorised to supply, distribute, sell, and use the Covid-19 antigen test.
Shares increased 16.6% following the announcement, hitting a high of 0.24c a share, before dipping to 0.22c, an increase still of 12.6%.
Managing director John Kelly said the company has “now commenced commercial discussions related to supply of the product to the New Zealand market”.
Atomo renegotiated its supply agreement with US manufacturer Access Bio back in October 2021, granting the company the right, but not the obligation, to purchase up to 20 million Atomo branded rapid antigen tests at a fixed price for sale in Australia and New Zealand during 2022.
Regenerative medicine company, Cynata Therapeutics (ASX: CYP) has been granted a patent in Japan covering its proprietary stem cell technology, granting it IP protection over its Cymerus(TM) manufacturing platform and ability to yield highly consistent mesenchymal stem cells (MSCs) at scale, from a single donation.
Dr Ross Macdonald, Cynata’s CEO, said the patent builds on the company’s already comprehensive patent portfolio to protect its unique and proprietary IP.
“This unique and valuable characteristic of Cynata’s technology is key to the development of off-the-shelf therapeutic stem cell products to target a range of devastating diseases worldwide,” McDonlad said.
Cynata’s share price increased by 1.05% following the announcement.
Sleep-disorder treatment company, SomnoMed Limited (ASX: SOM) reported 36% revenue growth in North America during Q2 of 2021, boasting revenue of $18.3 million for QY FY22, up 7% compared to the previous corresponding period. SomnoMed is projecting growth to hit 15% by the end of the quarter.
SomnoMed managing director Neil Verdal-Austin said the company continues to drive revenue growth in its trading markets where access has been less restricted due to Covid-19.
“We posted record sales numbers in North America, while both Europe and APAC were impeded by the latest Omicron wave. We are continuing to invest in the business, both in terms of new technology development and business operations, all aimed at ensuring that SomnoMed grows market share within the broader sleep apnea treatment market.”
Clinical-stage cell therapy company, Chimeric Therapeutics (ASX: CHM) has also been granted a patent in the US, covering certain applications of its chimeric antigen receptor technology using chlorotoxin (CLTX), including its clinical-stage and pre-clinical stage CAR T therapies currently being studied for the treatment of solid and neuroendocrine tumours, blood cancers, as well as colorectal, pancreatic, and gastric cancer.
Chimeric holds the exclusive worldwide licence to develop and commercialise the patent, number US 11, 230, 577 B2 and entitled “Chimeric antigen receptors containing a chlorotoxin domain”.
CEO and managing director Jennifer Chow said the company was “delighted” to have been granted patent protection for its CLTX CAR therapies in the United States, the single largest global market for biopharmaceutical products.
Radiopharmaceutical company, Telix Pharmaceuticals (ASX: TLX) announced the first patient to receive its prostate-specific membrane antigen (PSMA) targeting ‘ProstACT’ therapeutic program which studies the efficacy of its lutetium-177 labelled therapeutic antibodies in all stages of prostate cancer.
The patient was dosed at Princess Alexandra Hospital in Brisbane as part of its ProstACT SELECT clinical trial which is running concurrent to a pivotal Phase III global study.
Principal investigator and consulting medical oncologist at Princess Alexandra Hospital Professor Kenneth O’Byrne said PSMA targeting is widely considered to be the “vanguard” or prostate cancer treatment.
“We are therefore excited to have dosed a first patient in this important series of studies of Telix’s lead candidate for prostate cancer therapy,” he said.
“The ProstACT study builds on already significant body of clinical data for TLX591, which has the potential to transform patient outcomes across the full prostate cancer treatment journey.”