Atomo Diagnostics (ASX:AT1) obtained an exclusive licensing agreement with the Burnet Institute for its novel rapid Syphilis test assay, carving a path to commercialization for the product, according to a Monday filing with the Australian bourse.
The agreement will enable Atomo to commercialize the test on its Pascal test cassette, the filing stated. Atomo will pay Burnet a royalty fee as a percentage of the net revenue generated by the product.
The agreement is in effect until Burnet's Syphilis patent expires in 2045.
Atomo Diagnostics' shares were up nearly 12% in recent Monday trade.
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