Anteo Diagnostics Limited (ADO) is pleased to announce that it has signed a Patent and Technology License Agreement with eBioscience, a leading US headquartered Life Sciences company, providing them with access to Anteo’s unique Mix&Go®TM technology. Under the terms of the agreement, Anteo will supply Mix&Go®TM for use in the manufacture of biological reagents for all applicable markets in which the company operates. Anteo will receive an initial upfront payment, fixed revenue for Mix&Go®TM reagent supplied, and a royalty fee paid quarterly based on a percentage of worldwide net sales. eBioscience has undertaken technical assessment of the Mix&Go®TM technology, performed due diligence and reached an agreement with great efficiency. This pleasing outcome could only occur with goodwill from both parties. Further, Anteo expects to be working in close collaboration with eBioscience into the future to ensure that all products that incorporate Mix&Go®TM are delivered to the market promptly, that the technology is used broadly across the eBioscience product range and that where applicable, Mix&Go®TM is used in new products.
Anteo’s Chief Executive Officer Dr. Geoff Cumming said: “This is a very pleasing development for Anteo and represents a significant commercial opportunity for the company. eBioscience is a recognised global leader Anteo Diagnostics Limited in Life Science reagents with a large customer base. To be entering into commercial agreements with market leaders such as eBioscience is further validation of the Mix&Go®TM technology. “Additionally, the agreement signifies for Anteo a transition up the value chain from bead manufacturers to test manufacturers, in accordance with our company’s business strategy. “Anteo will receive an immediate upfront payment and we consider that a successful partnership with eBioscience will significantly contribute towards allowing us to meet our corporate objectives. “Anteo is in excellent shape and the Board has sound reasons for continued optimism, with the company in active, and in some case advanced, discussions with a range of other parties that are assessing the merits of the Mix&Go®TM technology. These negotiations are ongoing and positive and we are committed to building a pipeline of commercial supply agreements across a range of healthcare sectors to build and diversify our revenue streams.”
Anteo Diagnostics is an Australian company developing proprietary surface coatings for applications in the Diagnostics and Life Science industries. The product family, called Mix&Go®TM, enables the fast, easy and stable attachment of biomolecules such as antibodies, streptavidin and other proteins to a variety of synthetic surfaces including beads, slides and plates. Anteo actively pursues commercial opportunities across healthcare and a broad array of other sectors for its patented technology.