AnteoTechs has secured a $231.8 million deal with the U.S. Government to support its COVID-19 home test's accelerated development.
FREMONT, CA: AnteoTechs' long-term client Ellume, the developer of digitally-enabled diagnostic solutions for the next decade, has secured a $231.8 million deal with the U.S. Government to support the accelerated development its COVID-19 home test. The test uses the unique AnteoBind technology from AnteoTechs to encourage dramatically improved sensitivity and is the first rapid self-test for SARS-CoV-2 detection approved by the United States Food and Drug Administration (FDA) for use without a prescription. AnteoTech continues to address the significant problems of the point-of-care diagnostics, biopharmaceutical, and vaccine production markets via the proprietary AnteoBind technology, and the expertise and know-how provided through its Contract Services in assay development and bioconjugation.
The Ellume COVID-19 Home Test offers precise results in 15 minutes or less, identifying SARS-CoV-2 in both symptomatic and asymptomatic individuals using AnteoTech's AnteoBind technology. The first test that uses AnteoBind to receive FDA Emergency Use Authorization (EUA) is the Ellumes offering.
"With the Ellume test receiving FDA authorization and subsequent significant financial backing from the U.S. Government, this is further evidence of the immense value the AnteoBind technology continues to bring to the life sciences industry for life-changing solutions," said Derek Thomson, Chief Executive Officer of AnteoTech. "The capabilities of high-sensitivity diagnostics, such as Ellumes COVID-19 Home Test, will ultimately enable rapid and reliable screening to minimize community spread, relieve burden on healthcare systems and facilitate the reopening of economies."
AnteoBind is a nano-sized molecular glue utilized to promote easier, quicker, and more stable bioconjugation. The enhanced conjugation process improves diagnostic test efficiency and allows superior quality control, candidate screening, and efficacy measurement processes to produce biopharmaceuticals and vaccines. For example, Ellume COVID-19 Home Test shows how AnteoBind technology can help provide conjugation stability, unparalleled sensitivity, and batch-to-batch reproducibility while being produced at a scale.
Dr. Sean Parsons, Chief Executive Officer of Ellume, said, "Our recent Emergency Use Authorization was a key milestone in our mission to make a significant contribution to global health. AnteoTechs AnteoBind has greatly assisted us in the development of a highly sensitive test that is vital for an effective COVID-19 mitigation strategy. We look forward to our continued partnership with AnteoTech as we deliver accurate diagnostic solutions to the market."