AnteoTech receives $213,000 order from Serum Institute of India

AnteoTech announced on Thursday it had received a sales order worth $213,000 from the Serum Institute of India under their five-year purchase agreement.

The Brisbane-based biotechnology company said its Life Sciences business unit was on track to achieve approximately $930,000 in sales for FY2025, representing an increase of about 130 per cent over FY2024.

AnteoTech received the purchase order from SII for its AnteoBind product, worth US$138,750. The order, combined with others, takes SII beyond the minimum annual order quantity of US$370,000 for FY2025 under the terms of the five-year purchase agreement announced last year.

The company said this reflected the increasing use case for AnteoBind at SII and was a positive step forward in the growing relationship between the two companies.

AnteoTech said it looked forward to welcoming and hosting SII executives at its Brisbane headquarters in the near future to continue strengthening the business relationship.

The company also provided updates on other partnerships. While Vidcare Innovations is awaiting approvals for clinical trials for their first test, the AnteoTech Life Sciences team has been working closely with them to enable platform adoption for both current and future tests. However, unexpected logistics delays have impacted the timing of this work.

AnteoTech has successfully completed development of a prototype lateral flow assay device on behalf of KOMA Biotech for a South Korean customer. The company is awaiting final payment of around $17,500 to close out this service contract and has a proposal with KOMA for further work.

Interim Managing Director Merrill Gray said the Life Sciences team was doing “a great job at deepening the relationships with our existing customers, demonstrating the value of our products in a range of end uses and attracting new customers”.

Picture: credit AnteoTech/Linkedin