Let's not mention that FMG has over 3 billion shares on issue.
It mentions in the announcement that production capacity is 12 million a year. Just imagine making a million tests every month. No wonder ADO are looking for a new production HQ. This is a big move and one not taken lightly and indicates some impressive demand.
AnteoTech Ltd (ASX: ADO) (“AnteoTech” or “the Company”) is pleased to provide an overview of thelateral flow rapid test manufacturing strategy developed to meet anticipated demand for the range of tests being developed for the EuGeni platform over the next three to five years.
So Anteotech must have identified lots of new tests and it quite exciting they are thinking and planning long term 3-5 years out.
ADO not only now provides R&D contract services for other companies wanting to new tests, ADO can now offer manufacturing services to compliment the R&D services. More potential diversification of revenue and derisking.
Happy camper.
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Ann: EuGeni Test Strip Manufacturing Strategy, page-44
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