I first became aware of Atomo Diagnostics back in 2013 when I was researching the Commercialisation Australia grant for Anteo of which Anteo and Atomo received around the same time. Atomo then came into the spotlight again in October 2013 when it partnered up with BBI Solutions - That name again - yes Atomo partnered with BBI to commercialise the Atomorapid platform. Only a month later in November 2013 Anteo announced the HOT agreement with BBI to work on the gold nanoparticles that are a component of the lateral flow tests.
See below some videos of Atomo's platform :
This information below comes from the recent media release announcing the winners of the Advance Queensland Johnson & Johnson Innovation Qucikfire Challenge.
Atomo was one of 3 winners :
Excerpt from above link :
Medical Devices: Sydney-based Atomo Diagnostics is looking to develop a prototype device for the early detection of cardiac damage. The device is based on Atomo Diagnostics’ AtomoRapid Point-of-Care technology and will utilise cardiac markers developed by Brisbane-based Anteo Technologies. The technology offers up the possibility of providing an easy-to-use, accurate and rapid low-cost diagnostic test, with the potential to offer an affordable and widely deployable alternative to expensive hardware systems. The early detection of heart damage is crucial to saving patients’ lives.
Some other bits....
- In October 2013 Atomo announced a working partnership with BBI to develop the Atomorapid lateral flow platform
- In November 2013 Anteo announce a partnership with BBI Solutions to work on gold nanoparticles to be used inside lateral flow tests
- One of the problem tests that Anteo has shown it can add significant value is the Troponin test - an early detection for heart attack/ heart damage
- The Cardiac troponin market is currently valued around $350m USD pa
- Desire to shift away from lab based and hospital based testing will strong growth in the rapid testing market
- Desire for cheaper, accurate testing using lateral flow tests
From the ASX announcement from Anteo :
"Anteo will develop a rapid test strip for cardiac troponin using its coating technology which
has been previously shown to improve the performance of immunoassay tests. Atomo will
then integrate this into its award-winning AtomoRapid platform which provides unparalleled
ease of use and robustness in point of care settings."
I have long thought that Anteo may have been able to help Atomo and that the two companies would if combined create a potentially disruptive test for the rapid testing market.
I must say my thoughts have been right it has just taken some time to be validated.
Some thoughts are if BBI are working with Atomo as well on this or have they bypassed them and gone direct to Anteo?
This troponin point of care market is one of the biggest and creating a disruptive test that could be performed in doctors surgeries, ambulances etc all without the need for a handheld bigger analyser is a very promising prospect.
As well Atomo has some heavy hitters on board with local and overseas investors. Locally billionaire property developer Lang Walker and well known technology investor Steve Baxter are involved and from the US the Gates Foundation has recently invested $6m USD
"Atomo, which has developed a rapid blood test for infectious and chronic diseases, had previously received a $US6 million ($8.3m) loan from the Global Health Investment Fund, set up by the Gates Foundation and JPMorgan. But the fund has now gone a step further with an equity stake and a board seat at the Sydney-based company.
“We believe this is a company that can have a major impact, and it will be something Australia will be extremely proud of,” said GHIF president Curt LaBelle, who will join Atomo board."
Certainly seems like this is the right group for Anteo to be getting involved with.
I had thought for some time Anteo should/could/would and now they are.