Archer Materials (ASX:AXE) said it completed an alpha-prototype and laboratory demonstration of its blood potassium sensor with integrated biochip, according to a Friday Australian bourse filing.

The prototype demonstrated a potassium measurement accuracy within a 0.3 millimolar range in blood samples.

The company started the development of the beta-prototype, which will form the basis of negotiations with medical technology firms companies regarding potential licensing deals as well as engagement with contract medical device manufacturers and the initiation of clinical trials.

The firm's shares jumped past 5% in recent trading on Friday.