Download the Prospectus
Pre Money Equity Valuation
Min Raise
Max Raise
Estimated Close
Issue Type
Lead Manager
Canaccord Genuity Ltd
Type of Securities
Market Cap Max
Key Executives
John Keith (Chairman and NED), John Kelly (MD), Curt LaBelle (NED), Paul Kasian (NED), Connie Carnabuci (NED)
Company Address
Level 2, 701-703 Parramatta Road Leichhardt NSW 2040
Chairman's Letter

Dear Investor,

On behalf of the Board, I am delighted to offer you this opportunity to invest in Atomo Diagnostics.

Atomo supplies devices used for the rapid testing of blood by both professional users and consumers, to detect and test for infectious diseases, chronic health conditions and consumer wellness.

Most current rapid test solutions were first designed for use in laboratories. Over time these solutions have been deployed in patient settings such as doctor’s offices and clinics, and more recently made available for use in the home by consumers. Test kits of this type are typically complicated, requiring multiple components and numerous steps to complete each test, increasing the possibility of user errors. Errors can cause incorrect diagnostic results and reduced levels of user satisfaction.

Atomo’s unique, integrated devices are intended to remove or reduce errors common to existing test kit formats by simplifying the testing process and reducing the number of user steps. The Company’s proprietary technology supports a range of innovative rapid test devices that can replace a complicated test kit with a simpler device.

The majority of Atomo’s revenue is generated from product sales through third-party distributors. These arrangements allow the Company to access large global markets without incurring extensive sales and marketing expenditures. This approach provides Atomo with an attractive platform from which to grow sales of existing products, while maintaining a focus on developing rapid test products for new clinical applications.

The first rapid test products commercialised by Atomo screen for HIV infection both for professional use and for self-testing. Atomo’s HIV Self Test has regulatory approval in Australia (TGA) and Europe (CE Mark) and is prequalified by the World Health Organisation (WHO). The Company’s HIV Professional Use Test has regulatory approval in Australia (TGA) and Europe (CE Mark).

To support the sale of HIV Professional Use Tests and HIV Self Tests, Atomo has agreements with distributors including New York listed Mylan N.V. and leading UK healthcare company Owen Mumford Ltd (Owen Mumford).

Atomo also sells its proprietary devices to other diagnostic companies that commercialise the devices with their own diagnostic tests. Atomo has secured a number of long-term device supply agreements with international diagnostic companies.

Atomo has sold over 550,000 HIV test devices and has supplied more than 430,000 test devices to other diagnostic companies since 2015.

Atomo has appointed an experienced management team and a capable Board of Directors with strong commercial and industry experience across global markets.

The Board has decided to fund the acceleration of the Company’s product rollout and market development through an initial publicoffering on the ASX. Under this Prospectus, the Company is inviting investors to subscribe for 150,000,000 Shares at an Offer Price of $0.20 per Share to raise $30 million (before costs and expenses of the Offer). The proceeds from the Offer will be used to accelerate Atomo’s expansion and development activities, to reduce debt, for administration costs and working capital and to pay for the costs of the Offer.

Before subscribing for Shares, you should consider in full the risks of investing in the Company. The Company is subject to a range of risks including: (i) obtaining and maintaining regulatory approvals; (ii) reliance on distributors and OEM customers; (iii) financial performance; (iv) protection of intellectual property; and (v) reliance on third party manufacturers. A summary of the main risk factors associated with an investment in the Company is found in Section 7 of this Prospectus.

On behalf of the Directors, I recommend the Offer to you and look forward to your support and welcoming you as a Shareholder.

Yours faithfully

John Keith
Chair of Atomo Diagnostics Limited