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From Grafa.

AnteoTech secured a five-year purchase agreement with Serum Institute of India Private, the world's largest vaccine manufacturer.

The deal involves a minimum annual order of US$370,000 ($564,454) for AnteoTech's AnteoBindTM product.The product, intended for vaccine development, will be supplied by AnteoTech, which has the existing capacity to meet the stipulated requirements.The agreement aims to support anticipated future increases in demand and includes a pricing framework for orders above the annual minimum.David Radford, managing director and CEO of AnteoTech, commented: "We are excited to extend our close working relationship with Serum Institute of India, one of the leaders and innovators in the global vaccine market, with our unique AnteoBindTM product becoming an integral part of their vaccine development and production process."The scale and leading-edge technology of the Serum Institute of India's operations in Pune, India, underpin their commitment to quality, and we look forward to supporting them." Radford added.The agreement ensures ongoing and minimum supply levels over the typical 20-year lifecycle of Serum Institute of India's new vaccine products.The arrangement also allows for increased orders as regulatory approvals for current and new vaccines are obtained. The first order, valued at US$185,000 ($282,227), is scheduled for shipment and payment in August.The partnership marks a milestone in AnteoTech's expansion in the life sciences sector.AnteoTech is an Australian company that uses applied materials technology to provide solutions for the clean energy and life sciences markets.The company's principal activities consist of the development and commercialisation of nanotechnologies with surface management applications.