Atomo Diagnostics (ASX:AT1) has executed a new long-term supply agreement with existing distribution partner Newfoundland Diagnostics Limited, worth approximately $5.44m over five years.
The new agreement, which is effective immediately and runs until 30 June 2030, grants Newfoundland exclusive distribution rights to supply Atomo’s test in the UK and non-exclusive rights for the EU and Colombia. The agreement comes with an upfront order for 50,000 tests to be manufactured by Atomo during this quarter.
Newfoundland has been supplying Atomo’s HIV Self-Test, branded Newfoundland, in the UK and a number of other European countries for over a year, with more recent expansion into markets such as Eastern Europe and Colombia under a prior agreement.
Newfoundland branded product has been successfully launched in the UK’s two leading retail chains, Boots Pharmacies and Tesco Supermarkets, with the most recent purchase order supporting product launch in a number of Eastern European countries where HIV infection rates and demand for testing continues to grow.
“We are excited about building a long-term relationship with Newfoundland. They have done an excellent job getting our HIV tests on the shelves of the leading retailers in Europe and this partnership gives us the perfect channel to launch other Atomo tests, including the world’s first Active Syphilis self-test being currently developed with funding from the Australian government,” Atomo’s CEO, John Kelly, said.
