Anteo Technologies, a wholly owned subsidiary of Anteo Diagnostics Limited, has announced a new, milestone-based agreement with a large healthcare company that will allow it to expand the research and development program on its Mix&Go product range which delivers solutions to the challenges of establishing highly functional interfaces between fragile molecules and synthetic, and often incompatible surfaces.
The company uses its patented technology to develop, manufacture and commercialise proprietary surface coatings for use in healthcare and life sciences.
Anteo said in an ASX Announcement that the agreement was an extension and broadening of the initial Feasibility Study between the two companies which commenced 18 months ago, but did not disclose the identity of the partnering company (referred to as POC1) due to confidentiality reasons.
Anteo Technologies has been exploring the use of Anteo’s proprietary Mix&Go technology to precisely attach functional antibodies to different surfaces. The company recently developed novel reagents that have proven effective on a variety of surfaces and will now use its new intellectual property to improve the performance characteristics and precisely attach functional antibodies to POC1’s sensor surface.
Dr Geoff Cumming, CEO, Anteo Technologies said the research conducted on beads to date gas delivered positive results that satisfy the requirements of POC1.
“The agreement is very positive development for Anteo and it is a strong endorsement of the Mix&Go technology – Anteo’s patented and wholly owned technology platform. POC1 is a well-recognised and established global healthcare company and this recognition and confidence in the diverse applicability of Mix&Go is pleasing. The POC1 global healthcare company is fully funding the next phase, which further demonstrates its commitment and confidence.”
In addition to recent patent filings, Anteo has put in place the necessary facilities infrastructure and expertise to support POC1’s development plans and ensure project success. This includes the construction of a brand new clean lab fit-out with temperature and humidity control, and the installation of a new sciFLEXARRAYER S5 by Scienion.
“From a commercial perspective, these collaborative agreements also make small but meaningful revenue contributions to Anteo. These are important revenue streams for Anteo and help the company preserve its strong cash position,” Dr Cumming said.
“This agreement is a milestone in itself and could well enable us to identify additional licensing opportunities down the track. In addition, we are pleased to confirm that Anteo is pursuing other commercial agreements, as well as non-core opportunities that demonstrate the broader potential applications for Mix&Go. We look forward to updating shareholders in the near term.”