For Context: ideally, humanity would eradicate COVID-19. However, experience with other disease eradication programs suggests that this will be very challenging and may not be technically feasible (Lee Hampton, Medical Officer at Centers for Disease Control and Prevention).
ADO.AX has a world-leading product that will play a key part in solving a global problem in COVID-19. The ADO.AX test:
is up there with the most sensitive in the world (source – Derek T, CEO in recent PoC webinar – see 27:55 https://www.youtube.com/watch?v=xWu17P-44iY&feature=emb_logo). This means that the ADO.AX test can detect pre-symptomatic and asymptomatic cases as well as symptomatic cases – due to its very high sensitivity.
is a rapid test, meaning that it provides results within 15 minutes after the sample is applied to the test cassette – includes 1 minute in a reader. This speed is significant in managing the spread of COVID-19, meaning greater potential use cases and rapid results/decisions (see point below). There are other 15 min rapid tests in the market, but ours might be the most sensitive
is applicable for travel e.g. airport departures and arrivals, aged care/healthcare facilities e.g. staff prior to a shift, quarantine hotel staff, stadium entrance etc. These are repeatable applications meaning a high volume of testing required.
ADO.AX is very close to generating its largest revenues through the delivery of this highly sensitive swab test to the market (source: https://cdn-api.markitdigital.com/apiman-gateway/CommSec/commsec-node-api/1.0/event/document/1410-02326577-6R6UN1LM04DQJKM8F0NO3VKIL0/pdf?access_token=rsXV6Sfsueyj4236uDL16Iq8QaML).
Clinical trials are underway with the Doherty Institute, which will cover requirements for Therapeutic Goods Administration (TGA) and Food and Drug Administration (FDA) via an Emergency Use Authorisation and CE mark registrations
ADO.AX have both a manufacturing agreement in place with Operon (Spain) and a signed agreement with another Spanish company (in close proximity to Operon) to commence manufacturing of the plastic cassettes that hold the test strips that are inserted into the reader. Europe is a significant market
A marketing agency is preparing the branding, packaging etc. for launch
There is no saliva test in the market currently. ADO.AX is chasing this “holy grail” and has the capability to deliver a saliva test to the world. This would be significant and a company maker. Once ADO.AX have the swab test in the market – Derek believes ADO.AX can achieve the salvia test (source: https://www.youtube.com/watch?v=xWu17P-44iY&feature=emb_logo)
Ellume received an Emergency Use Authorisation (EUA) from the FDA. AnteoBind is one of the key elements in their test. This is a favorable position for ADO.AX to be in.
Sepsis is potentially just as large as COVID testing. Derek T stated that ADO.AX has prioritized the company’s focus on the COVID test to meet the current need. If ADO.AX is able to achieve market share, commercial deals, and brand recognition for the COVID test; Sepsis will be next and will benefit from a reduction in barriers to entry
ADO.AX is a development-focused company. ADO.AX has been successful on their viral assay oil the first attempt meaning that they are well-positioned to develop assays for other clinical, medicinal and diagnostic applications. I asked Derek T the question on the PoC webinar (source, see 51:45 https://www.youtube.com/watch?v=xWu17P-44iY&feature=emb_logo) on the applicability of ADO.AX capability for future diseases etc. Derek was positive. This means that the company could leverage its capability / IP and expand suit of products resulting in entry into additional in markets
Note: I haven’t even touched on the other tests the triple Flu A, Flu B & Covid-19 test and even an early detection Sepsis test all in late-stage development PLUS an Energy business, that is equally as exciting; and I know many ADO.AX investors bought into the company for this reason alone.
Disclosure: I own and brought shares for the Energy Business and now find the Life Science division is amazing as well. Check it our for yourself www.anteotech.com.au
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