Archer’s $13.7M Cash Pile Fuels High-Stakes Quantum and Diagnostic Tech Race
Archer Materials advances its quantum computing and medical diagnostics technologies, extending key partnerships and forming a new advisory board while maintaining a strong cash position to fuel development.
- Extended contract with Queen Mary University for qubit development
- Partnered with Paragraf to enhance Biochip gFET blood testing accuracy
- Fabricated integrated silicon chip moving towards handheld blood testing device
- Established advisory committee with semiconductor and biotech veterans
- Strong cash position of $13.7 million with no debt supports R&D
Quantum Computing Milestones
Archer Materials has made notable strides in its quantum computing ambitions during the June quarter, extending its collaboration with Queen Mary University of London to further develop its carbon-based qubit technology. This partnership aims to demonstrate a functional qubit by the first half of calendar year 2026, focusing on isolating single electrons and controlling their spin states through superconducting resonator micro-devices. The intellectual property generated will remain with Archer, underscoring the company’s commitment to owning its technological breakthroughs.
Biochip Innovation and Commercialisation
On the medical diagnostics front, Archer has partnered with UK-based Paragraf Limited to refine its graphene field effect transistor (gFET) sensors embedded in its Biochip technology. This collaboration targets improved sensor accuracy, stability, and robustness for blood potassium testing, a critical marker for chronic kidney disease. Complementing this, Archer fabricated an integrated silicon chip combining the Biochip sensors with electrical readout circuitry, a key step towards a portable, cartridge-based blood testing device. This progress aligns with ongoing work alongside Hylid Diagnostics to bring at-home testing closer to reality.
Strategic Advisory Committee Formation
Recognising the complexity of advancing deep tech innovations to market, Archer has established a new advisory committee featuring industry veterans from semiconductors and biotechnology. Chaired by Dr Steven Duvall, a former Intel Fellow with decades of semiconductor expertise, and including biotech entrepreneur Mark Davis and physicist Dr Anthony Brewer, the committee is poised to guide Archer’s research, development, and commercialisation strategies. Their combined experience is expected to accelerate Archer’s transition from lab-scale innovation to commercial products.
Financial Health and Outlook
Archer closed the quarter with a robust cash balance of $13.7 million and no debt, providing a solid runway for continued research and development activities. The company’s cash burn reflects ongoing investment in both quantum and Biochip projects, with a current funding horizon estimated at nearly eight quarters. This financial stability is critical as Archer navigates the challenging path from prototype to market-ready technologies in highly competitive sectors.
Overall, Archer Materials is steadily advancing its dual focus on quantum computing and medical diagnostics, leveraging strategic partnerships, technical innovation, and expert guidance to position itself at the forefront of semiconductor-enabled technologies.
Bottom Line?
With strong cash reserves and expert guidance, Archer is well-positioned to turn quantum and diagnostic breakthroughs into commercial realities.
Questions in the middle?
- How soon can Archer demonstrate a fully functional qubit in collaboration with QMUL?
- What are the timelines and regulatory hurdles for commercialising the Biochip as a handheld diagnostic device?
- How will the new advisory committee influence Archer’s strategic partnerships and market entry plans?
