AnteoTech life sciences business lands $213,000 Indian order

• AnteoTech secures further sales order from the Serum Institute of India under five-year purchase agreement
• Company progressing collaborative relationship with Vidcare Innovations
• Successful development of prototype lateral flow assay device on behalf of KOMA Biotech for South Korean customer

Special Report: AnteoTech’s life sciences arm has delivered a win for the company after receiving a further sales order worth $213,000 from the Serum Institute of India.

The order ensures that its life sciences business is on track to achieve total sales of $930,000 for FY2025, an increase of ~130% over FY2024.

It also ensures the Serum Institute of India (SII) has exceeded the minimum annual order quantity under a five-year purchase agreement it reached with AnteoTech (ASX:ADO) in July 2024.

The company has also progressed its collaborative relationship with Vidcare Innovations despite delays to the clinical trials for the first test due to Indian regulatory requirements.

Separately, the company has successfully completed development of a prototype lateral flow assay device on behalf of KOMA Biotech for a South Korean customer and is awaiting the final payment of ~$17,500 to close out this service contract.

It also has a proposal with KOMA in relation to a further work package.

“The Life Sciences team is doing a great job at deepening the relationships with our existing customers, demonstrating the value of our products in a range of end uses and attracting new customers,” interim managing director Merrill Gray said.

“We are developing a range of programs to significantly expand the pipeline of opportunities and our customer base for AnteoBind and AnteoBind NXT over FY2026, aligned with this week’s Strategic Review Outcomes announcement.”

Indian agreements

In July 2024 ADO entered a five-year purchase agreement worth US$1.8m ($2.76m) for the supply of its unique AnteoBind product to SII for their vaccine development and production process.

The agreement was structured to maintain ongoing and minimum supply levels of AnteoBind over the life of SII’s new vaccine products, which are typically 20 years following regulatory approval.

It also allows parties to increase orders for the use of the product once regulatory approvals are obtained for development of current vaccines as well as when other new vaccines are developed.

SII is the world’s largest manufacturer of vaccines by number of doses produced and sold with an estimated 65% of e children in the world receive at least one vaccine from them.

Meanwhile, the agreement with Vidcare covers the evaluation of AnteoBind NXT for inclusion in the Indian company’s range of blood diagnostic test products.

To date, the produce has been found to improve particle activation for Vidcare’s diagnostic tests compared to conventional EDC chemistry.

Successful evaluation is expected to lead to negotiations for a supply agreement.

ADO and Vidcare are currently working closely to enable platform adoption as well as particle qualification.

This article was developed in collaboration with AnteoTech, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.