AnteoTech Ltd (ASX:ADO) Reports 130% Sales Growth in Life Sciences Unit
Sales and Financial Update
AnteoTech Ltd has received a purchase order from the Serum Institute of India for AnteoBind™ worth approximately A$213,000 under a five-year agreement. The Life Sciences business is on track to achieve around A$0.93 million in sales for FY2025, marking a 130% increase compared to FY2024.
Project Developments
The Vidcare project has been delayed due to Indian regulatory requirements, though the collaborative relationship remains strong. Additionally, a prototype assay development for KOMA Biotech Inc in South Korea has been successfully completed, with a follow-up program pending approval.
Executive Comments
Interim Managing Director & CEO Merrill Gray stated, “The Life Sciences team is 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. We are developing a range of programs to significantly expand the pipeline of opportunities and our customer base for AnteoBind™ and AnteoBind NXT™ over FY2026, aligned with this week’s Strategic Review Outcomes announcement.”
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