9 February 2013 Company Announcements Office Australian Stock Exchange Level 6, 20 Bridge Street Sydney NSW 2000
Anteo Diagnostics Signs Sales Partnership Agreement with One World Lab
- Agreement with US based antibody and research tool supplier - Creates significant opportunity as a lead generation tool - Improves market recognition of Mix&Go®™ as it becomes more readily available to academics and researchers - Progress on two paid Point of Care projects
19 February 2013: Anteo Diagnostics Limited (ASX: ADO) (“Anteo”) is pleased to announce that it has entered into a Sales Partnership Program with One World Lab Inc. (“OWL”). OWL will provide Anteo’s Mix&Go surface chemistry products to its growing base of academic and industry researchers.
OWL is a San Diego based company whose business model is to supply small quantities of antibodies and complimentary reagents to researchers worldwide giving them the opportunity to quickly test products from various suppliers and identify the reagents best suited for their work.
Under the terms of the agreement, Anteo will provide OWL with Mix&Go products for use in different areas and applications, focusing initially on Mix&Go for coating of micron-sized beads, Mix&Go for use with nanobeads and a formulation optimised for use with biosensor surfaces. The parties plan on adding additional Mix&Go products to the offering based on customer requests.
Anteo considers the sales partnership with OWL as a strategic move that will enable the company to get Mix&Go into the hands of academic and industry scientists. It will provide the company with valuable feedback on potential uses of this “double-sided molecular Velcro”, as Mix&Go can be described. The company expects revenues to ramp up over time as OWL further broadens its customer base and Mix&Go becomes more widely known and used among researchers.
Anteo’s Chief Executive Officer Dr. Geoff Cumming said: “We are pleased to have entered into an agreement with One World Lab. OWL is a young and dynamic company who we believe can play an important role in broadening the awareness of our Mix&Go surface chemistry, especially among academic and industry researchers. It is anticipated that this awareness will increase significantly through the publication of research involving Mix&Go in high impact journals and attract additional users.”
Michael Simson, CEO of One World Lab added: “We are happy to be working with Anteo Diagnostics and offering their Mix&Go surface chemistry to our growing customer base. Mix&Go is complementary to our current product lines which consist of a broad range of antibodies from different manufacturers that are used by researchers for a large number of different applications.
Mix&Go fits well into that portfolio and will help us positioning ourselves as the go-to source for assay development tools.”
There have been pleasing developments in both of the paid Point of Care projects mentioned in our recent Appendix 4C. The Scope of Work for the first project has been significantly increased and legal approval has now been received from lawyers in the second project and work can now commence.
ENDS
ADO Price at posting:
7.1¢ Sentiment: Hold Disclosure: Held
