July 2021 – Radetec reaches Joint Initial Trial Agreement with 2 Indian hospitals
Radetec has entered into agreements with 2 major hospitals in Bangalore, Southern India, to run the initial trial of Radetec’s Covid-19 antigen test. The first batch of 40 units of the test have been dispatched to the hospitals. Under the agreement, the hospital partners will run POC tests using our kits alongside conventional PCR tests and make the comparisons. Radetec intends to use the initial trial data to aid further decisions on whether or how to improve the test and whether and when to commence a formal regulatory approval process with the Indian regulatory IMCR.
April 2021 – Rega Biotech manufactures the first prototype of Radetec’s COVID-19 antigen test
Radetec and Rega Biotech achieves first prototype production run for our COVID-19 antigen test. Rega Biotech performed comparisons using Radetec’s quantum dots vs. traditional colloidal gold-based tests, and concluded that quantum dots-enabled LFA delivers up to 100 times more sensitivity, confirming our theoretical estimates. This is real practical proof of quantum dots’s potential as a fluorescent label suitable for medical diagnostics.
January 2021 – Radetec and Cobalt Design enter an agreement for the development of a hand-held reader
Radetc contracts Cobalt Design for the design and production of a hand-held, qualitative reader specifically for the USA market under FDA guidelines for POC tests. This is in preparation for the pre-clinical trials of Radetec’s COVID-19 antigen POC test, which is planned in Q3 2021. Our New York-based distribution partner has extensive experience with assisting non-US manufacturers with FDA applications.
December 2020 – Radetec and Rega Biotech enter an agreement for the development of a COVID-19 antigen test
Radetec contracts Rega Biotechnology Inc, to conduct feasibility studies on a quantum dots-based COVID-19 POC antigen test. Under the agreement, Rego Biotech, who has contract manufacturing capabilities in lateral flow assay (LFA)-based devices, will provide several types of anti-COVID-19 antibodies and Radetec will provide optimised quantum dots for conjugation. The development will leverage off Rega Biotech’s expertise in commercial-scale development of LFA products, and its extensive experience in manufacturing of colloidal gold-based antibody tests. Rega Biotech will also provide factory data when the development process completes.
August 2020 – Radetec and Cobalt Design enter an agreement for the development of a benchtop reader
Radetec contracts Cobalt Design to assist in the development of the “FlareTM” imaging system & benchtop reader. The benchtop reader is intended to anchor Radetec’s POC test strips in a GP clinics, sexual health clinic or other professional medical settings. The reader is designed to house sensors that can detect light emitted by quantum dots on the surface of Radetec’s test strips, an algorithm that will calculate the concentration of pathogen based on the signal strength of the quantum dots, and produce an output through the user-interface. The output data will show medical professionals operating the reader a quantifiable estimate of the pathogen load, and reverse-estimated stage of infection, providing a guideline for better treatment options.
July 2020 – Radetec announces second Seed Funding investment
Radetec has achieved financial close for its second round of financing, raising $800,000 from a Sydney-based investment company. Radetec’s first investor, Artesian VC, also followed with a proportionate contribution. The financing was achieved with 500% increase in valuation and despite the impact of COVID-19. It is further evidence of investors’ confidence in the Radetec technology and the founding team’s ability to execute and deliver the milestones agreed.
March 2019 – Radetec and UTS enter an agreement for the development of anti-Chlamydia antibodies
Radetec enters into Joint Development Agreement with the University of Technology Sydney (UTS) to conduct joint development of the world’s first quantum dots-based Chlamydia POC test. Under the agreement, Radetec will provide its proprietary, optimised quantum dots capable of 2-step antibody conjugation, and UTS will develop from the ground up, Chlamydia-specific antibodies with the most optimal performance in a POC context.
January 2019 – Radetec accepts its first external Seed investment from Artesian VC
Artesian VC has made a Seed Investment in Radetec, recognising its product development strategy and commercialisation pathway. Radetec is set to utilise the money raised toward the antibody development of its very first generation of products: a Chlamydia and Gonorrhoea multiplex test.
December 2018 – Radetec selected to partecipate to the Medtech Actuator accelerator program
Radetec is selected into Cohort 3 of the Medtech Actuator accelerator program in the February 2019 cohort. The program will last for 6 months and will greatly boost Radetec’s capabilities as it will introduce subject matter experts from all the important areas: commercialisation, legal, accounting, regulatory and product design&development. Radetec can tap into the rich resources that the Medtech Actuator network has to offer.
November 2018 – Radetec finalist in the Medtech’s Got Talent competition
Radetec is one of the finalists of the 2018 Medtech Got Talent business plan competition and won recognition. The Medtech Got Talent competition is Australia’s largest event for medtech companies and a great place to showcase new startups, products and inventions.
October 2017 – Radetec wins 1st prize in the Sunan Cup
Radetec competes in the Sunan Cup medtech startup competition and won 1st prize. The $20,000 prize money was awarded to Radetec in a ceremony at the AUSTRADE office in Melbourne. The money was immediately added to our R&D budget.
June 2017 – Major technical achievement for Radetec
Radetec achieves 2-step conjugation of quantum dots with antibody in aqueous-stable environment. This proves that Radetec has now possessed a platform technology that can potentially be applied to a very wide range of applications in disease testing – theoretically all infectious pathogens or non-infectious biomarkers can be detected by the ultra-sensitive conjugated quantum dots.
January 2017 – Radetec starts quantum dots production
Radetec develops an innovative method to produce aqueous-stable quantum dots, paving the way for quantum dots’ practical applications in medical settings. We believe that we are the world’s first in achieving this and significant technical barriers exist for peers to replicate.
October 2016 – Radetec completes market research on STIs
Radetec completes market research & feasibility study into the Point-Of-Care diagnostics market for Sexually Transmitted Infections (STIs). 25 GP clinics and 3 sexual-health clinics were interviewed and the status quo of STD testing in Australia is established. The market research confirms the significant opportunity that exists within the POCT space in Australia and international markets. The TGA has a ban on POCT products for self-test use in Australia due to the inherent technical limitations of colloidal gold-based antibody tests. The TGA would only consider listing the ban when more sensitive technology emerges. The ban will be re-visited in 2020.