Australian medical device innovator, Atomo Diagnostics today announced it has been selected as a winner of the Advance Queensland Johnson & Johnson Innovation QuickFire Challenge. The win was announced by the Premier of Queensland, Annastacia Palaszczuk, at the QUT Institute of Health & Biomedical Innovation.
Atomo received the award in the medical device sector of the challenge, which comes with $100,000 in funding to deliver a ‘proof of concept’ program for an innovative rapid test to detect heart attack.
Atomo Diagnostics Group CEO John Kelly said, “We gratefully thank the Queensland Government and Johnson & Johnson Innovation for their support. This funding will allow us to evaluate the feasibility of an easy-to-use test for the early detection of heart attacks away from laboratory and hospital settings.”
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.
Anteo Group CEO Jef Vangenechten said, “Anteo’s novel binding chemistry is particularly well suited to advancing performance improvements of point of care tests. We are pleased to partner with a fellow innovator of the Australian medical device sector, to develop a next generation troponin test on the AtomoRapid platform.”
The troponin test market is one of the largest and fastest growing single cardiac biomarkers segments 1 and the point of care (non-laboratory) market is estimated to be US$350 million per annum2. Subject to a successful proof of concept phase, Atomo and Anteo will consider options to fully commercialise an AtomoRapid based troponin solution for the cardiac market.
For more information, please contact:
Tel: +61 (7) 3219 0085
Tim Allerton or Andrew Geddes CityPR
Tel: +61 (2) 9267 4511
About Anteo Diagnostics
Anteo Diagnostics (ASX: ADO) is a global medical technology company, developing and commercialising products for sale into the life sciences, in-vitro diagnostics, point of care, medical devices and bioseparations markets.
The Anteo group owns a patented nano coating technology, which is used by healthcare customers as an addition to their existing tests, to consistently enable laboratory test results that can either be delivered faster, cheaper, or with greater specificity or sensitivity than incumbent tests.
This nano coating technology, called Mix&Go for healthcare markets, is starting to gain traction with the Company’s target markets, due to its ability to revolutionise the way scientists work.
While Anteo is largely focused on the healthcare markets, the nano coating technology also has potential for use in other areas, such as batteries. Early stage research is being conducted into the viability of this battery product.
About Atomo Diagnostics
Atomo Diagnostics is commercialising a range of innovative and easy to use rapid diagnostic solutions that deliver clinical and economic value to healthcare consumers and providers globally. The company was established to create healthcare products that improve levels of convenience, simplicity and user experience. Atomo Diagnostics is based in Sydney, Australia, with corporate offices in South Africa and the UK. The company is led by an experienced team with track records of success commercialising healthcare products that transform and improve clinical outcomes for a range of unmet medical needs.
For more information, please visit www.atomodiagnostics.com
1 Cardiac Marker Diagnostic Testing Markets, TriMark Publications, Volume: TMRCMARK15-0701, July 2015
2 Trinity Biotech Announces European Approval of Guideline Compliant, Point-of-Care, High Sensitivity Troponin I Product, accessed November 2015