Atomo Diagnostics (ASX:AT1) has entered into an exclusive supply agreement with UK-based company Newfoundland Diagnostics for HIV rapid testing in Europe.
Atomo said the agreement follows an initial purchase order from Newfoundland of HIV Self-Tests worth approximately $900,000.
Under the agreement, Newfoundland has committed to placing a larger follow-on order worth approximately $1.2 million before 31 December 2023.
At the end of the first year of the agreement, the parties have agreed to negotiate an up to three-year extension, with increasing indicative annual volumes already agreed between the parties for 2024 and 2025.
Atomo CEO John Kelly said, “We are delighted to have entered into a strategic partnership with Newfoundland and look forward to expanding this partnership beyond HIV testing in the coming months. They have an enviable track record in accessing retail channels where Atomo’s tests are ideally suited to consumer use.”
Mr Kelly added, “We anticipate delivery of the first batch of Newfoundland-branded HIV Self-Tests to Europe shortly”.
Newfoundland CEO Frederick Manduca said, “We are extremely proud of our wrap-around service, our best-in-class range of diagnostic products and being at the forefront of self-testing in the UK and further afield. We’re pleased to partner with Atomo to add rapid HIV testing to our product range and supply them exclusively to the UK and Europe, and we look forward to being able to offer such a crucial test as HIV to our offering."