quarterly ceo report

CEO REPORT ? QUARTER ENDED 30 SEPTEMBER 2010
Dear Shareholders,
At the end of the quarter the company had $2.3 million cash which, at current levels of expenditure and in the absence of any revenues, is expected to see us through until the end of 2011. It is pleasing to note that almost 100% of the 1.2? option holders chose to exercise their options.
The quarter has seen continued engagement with major market participants with the aim of progressing the commercialisation of, and exploiting the commercialvantages offered by, our patented Mix&GoTM technology. Highlights of the quarter include:
BEAD MANUFACTURERS
We continue to receive positive feedback from Bangs Laboratories on the performance of ProMag Bind-IT in the field. Bangs have made a significant investment in promotionalactivities for the product and report that they are now beginning to see the results flowing from that. Response to the initial product was sufficiently strong for a second product to be launched. A third product is currently undergoing stability trials at Bangs and is expected to be released in the next quarter. Whilst the distribution of ProMag Bind-IT is growing rapidly in response to marketing efforts, significant sales are not expected until end-users have undertaken testing for their specific use. Merck launched two Mix&GoTM-coated products at the American Association of Clinical Chemists (AACC) conference in Anaheim, California in July 2010. Since that time they have been promoting the products extensively and have included a pictorial footer on their
outgoing emails proclaiming the range as ?A Versatile Biotool for Biopurification, Bioseparation and Biodetection ? Bio-Estapor? microspheres?. Again, a period of trialling by prospective users is expected before significant sales are generated. Further collaborative work has been conducted with a number of the other major bead manufacturers. In one case several of our scientists worked in their laboratory for a period to ensure a sound technology transfer.

IN VITRO DIAGNOSTIC SUPPLIERS
During the quarter. several ?new? global players expressed interest in Mix&GoTM for their applications and entered into Confidentiality Agreements and, in some cases, commenced
in-house trialling of the technology. Anteo scientists spent time overseas in several suppliers? laboratories. In these
environments testing occurred using clinical samples and incorporating Mix&GoTM activated beads on large-scale automated testing platforms. The results generated were very exciting as the data mirrored the results achieved in our own laboratories. Scientists from the IVD companies were impressed with the speed and simplicity of our process. One party quoted ?I have been able to do work in the past two days that would normally take me a month?.
Anteo is optimistic that such enthusiasm will translate into commercial arrangements in the near future. We have also commenced several collaborative projects with a view to incorporating Mix&GoTM into new assays that are currently being developed for clinical validation and
subsequent registration.

POINT OF CARE MANUFACTURERS
Anteo scientists worked in the laboratories of a large global market participant to demonstrate the benefits that Mix&GoTM could offer in their system.
A Materials Transfer Agreement is currently being negotiated with another major group in this market. It is anticipated that work in respect of this agreement will commence before the end of the calendar year SEPARATIONS & PURIFICATIONS
Several new companies in this field have expressed interest in the company?s technology during the quarter.
In-house work has been undertaken to demonstrate several benefits of Mix&GoTM; which the Company expects will increase its commercial appeal in this market segment. This work generated positive results. The size of this market segment is thought to rival IVD and the time to market may be shorter as regulatory approvals are not required prior to sales.

OTHER APPLICATIONS
Discussions have been held with a number of parties that have indicated an interest in exploring the benefits of using Mix&GoTM in non-traditional and non-biological settings. For the most part these discussions are at an early stage.

SUMMARY
In summary, the quarter has seen a number of exciting new developments. We remain confident that Mix&GoTM will see an increasing and more rapid market acceptance which will translate into commercial arrangements with the Company.
Finally, we are endeavouring to establish a more complete list of email addresses for shareholders and interested parties. We would appreciate it if you would take the time to fill out the ?Shareholder Details? section on the Homepage of our website at www.anteodx.com.
We look forward to keeping you abreast of further positive developments into the future.