AnteoTech wins initial EU approval for new Covid-19 RAT design

AnteoTech Limited (ASX:ADO) soared this morning in the first hour of trades by over 30% as the company announced it has registered a new covid-19 Rapid Antigent Test (RAT) design in Europe. 

AnteoTech notes that its new RAT model, dubbed EuGeni COVID-19 RAT, has thus received "regulatory approval" in the EU. 

The new registration, the company notes, is for the same core SARS-CoV-2 Ag Rapid Diagnostic Test registered in April last year, "but now covers multiple use claims to include combined nose and throat sampling," and, "nasal mid-turbinate sampling on top of the original nasopharyngeal sampling method." 

(Source: WHO) A global snapshot of Covid-19 cases by jurisdiction as of 18 May 2022

EU clinical trial underway

A European Clinical Trial is currently underway to evaluate the updated multi-use claim, which enables customers to choose their preferred method of self-led sample collection. 

AnteoTech is to phase out its nasopharyngeal test on the back of expected rising demand for its EuGeni COVID-19 RAT. 

Readers should note the nasopharyngeal testing is the invasive swab which, in layman’s terms, goes all the way up the back of the nose.

All about Omicron, for now 

The new EU registration comes on the back of trans-Atlantic analytical and clinical performance evaluations conducted between the US and the UK. 

Those evaluations specifically examined the efficacy of the new test design in detecting the Omicron variant, which has by far become the dominant colonising variant globally. 

Approvals awarded to AnteoTech's new design in Europe fall under the Vitro Diagnostic Directive (IVDD) 98/79/EC Regulations. 

The World Health Organisation remains on-alert for the evolution of new covid-19 variants. 

AnteoTech's three monthly chart reveals the spike in market interest this morning