Quarterly Activity Report & Appendix 4C
| Stock | Archer Materials Ltd (AXE.ASX) |
|---|---|
| Release Time | 16 Apr 2025, 8:20 a.m. |
| Price Sensitive | Yes |
Quarterly Activity Report & Appendix 4C
- Improved electron spin lifetime and sample-to-sample repeatability for quantum carbon film
- Achieved key step towards qubit control by observing strong coupling of spin states to superconducting resonator
- Began transition to testing human blood on Biochip
Archer Materials Limited, a semiconductor company advancing quantum computing and medical diagnostics, provided its Quarterly Activities Report and Appendix 4C for the quarter ended 31 March 2025. The company made solid progress on its 12CQ quantum project, improving the electron spin lifetime of its novel manufacturable quantum carbon film to 800 ns and the films' reproducibility from sample to sample. This is an important development as it moves the company closer to realising devices like qubits and magnetic sensors. Archer also achieved a key step towards qubit control by observing the strong coupling of spin states of its novel carbon-based spin material to a superconducting resonator, which will enable the delivery of microwave pulses for precise qubit control. On the Biochip front, the company improved the accuracy of potassium detection, reducing variability to 1.5%, allowing for the transition to testing on human blood samples. Archer also entered a partnership with Hylid Diagnostics to develop an integrated prototype cartridge system for at-home testing of chronic kidney disease. The company appointed Dr. Simon Ruffell as CEO to guide the 12CQ quantum project and the Biochip towards commercialisation. Archer maintained a strong cash position of $15.6 million with no debt to fund its R&D and commercial activities.
Archer expects that, subject to regulatory feedback, it will commence clinical trials for potassium detection using the Biochip in 2026.