Precise Investors


ADO strikes first European distribution deal for Covid tech

European distribution deal

The distribution deal covers the EuGeni Reader platform and AnteoTech’s SARS-CoV-2 Antigen RDT, which are designed to quickly detect the presence of COVID-19 in humans

Surface chemistry company AnteoTech (ADO) has struck its first European distribution deal for its EuGeni rapid diagnostic test (RDT) technology.

Shares in the company are trading in the green today after it told investors it had signed the deal with UK-based Apacor, which will distribute the tech to England, Wales and Scotland.

The distribution deal covers the EuGeni Reader platform and AnteoTech’s SARS-CoV-2 Antigen RDT, which together are designed to quickly and easily detect the presence of COVID-19 in humans.

AnteoTech CEO Derek Thomson said the UK has a “strong history” of using antigen rapid testing in its battle against COVID-19.

To control the spread of COVID-19, the UK’s National Health Service (NHS) has procured large volumes of rapid tests and deployed them across Britain, Mr Thomson said.

We believe that in the future, the NHS strategy for pandemic control will include ongoing screening and testing, which the UK has already rolled out through a number of programs, such as the recently announced Daily Contact Testing Pilot Scheme, he said.

As for Apacor, Mr Thomson said the company had a strong track record in securing government tenders for diagnostic products.

Moreover, ADO management said Apacor had more than 25 years of experience in designing and manufacturing parasitology pre-analytic products and already supplies rapid testing solutions to the UK.

Alongside the Apacor distribution deal, AnteoTech has appointed Promedt UK as its UK representative. This means Promedt will be responsible for registering the EuGeni Reader and SARS-CoV-2 RDT with the UK’s Medicines and Healthcare products Regulatory Agency (MHRA).

AnteoTech’s deal with Apacor begins on August 1, 2021 and will initially last for one year, though it can be extended by another two years if both companies agree to continue their partnership.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Precise Investors. The information provided on Precise Investors is intended for informational purposes only. Precise Investors is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.

Leave a Reply