Lelde Smits: Anteo Diagnostics Limited
(ASX:ADO) is a lifesciences company focussed on In Vitro diagnostics point of care and life science research. The Company uses its patented technology to develop, manufacture and commercialise surface coatings. Anteo’s molecular glue is called Mix&Go and works as an enabling tool to aid the diagnoses of a range of ailments. I’m Lelde Smits and joining me at ASX Investors Series in Sydney is the Company’s CEO, Dr Geoffrey Cumming. Geoffrey welcome.
Dr Geoffrey Cumming: Thank you for having me.
Lelde Smits:Mix&Go is your platform technology and also your lead product. What is it used for and what are your plans to roll it out?
Dr Geoffrey Cumming:Mix&Go is essentially a glue or a two sidedVelcro. Conventionally a different form of binding is used in making immunoassays. Mix&Go allows for either less expensive or more sensitive tests to be manufactured. And that means we can either allow for earlier detection of disease, or less expensive tests to be developed.
Lelde Smits: You’ve established the benefits of Mix&Go in a number of areas through your AMG kits. Could you explain what they are?
Dr Geoffrey Cumming: AMG actually stands for AnteoMix&Go. And we’ve for a long time, been sending Mix&Go out for people to try and they’ve all got their own ideas about how it should work. What we’ve decided to do is to put Mix&Go into kits, and this tends to eliminate a lot of the mistakes and false starts that other people using our technology have had. As a resultwe get to the, what we hope to be, the end commercial point faster.
Lelde Smits: Could you outline the Company’s major partnerships and strategic objectives?
Dr Geoffrey Cumming: We’ve got a number of major partnerships on foot, one of them we call POC1. That’s a large multinational company that’s working on the development of a handheld immunoassay analyser. Another company, BBI Solutions is one of the world’s largest manufacturers of lateral flow point of care tests. Those are two major interactions that we have on foot. A number of others that have recently begun, one of them is a very large life science company that has been assessing the technology over a number of years. And now they’ve decided that they’d like to incorporate it into a platform and so use it, in the development of a range of their proprietary tests.
Lelde Smits: Anteo has received a number of grants. What’s your funding model going forward?
Dr Geoffrey Cumming: We see Anteo as being a growth company. And as such, we’re not looking for cash flow positivity per se; we’re looking for considerably better than that. We believe that we’re adequately funded, to execute our existing business plans with the money that we have at hand. Some of these growth opportunities could require money into the future. But those are likely to be some blue sky opportunities, rather than those opportunities that we’re currently trying to work on and pursue commercially.
Lelde Smits: Finally Geoff. What are the Company’s main goals for the year ahead and what are you most excited about?
Dr Geoffrey Cumming: Well we think that there’s a lot to be excited about. Our investors are aware of one of our headline projects, the so called POC1. We expect to maintain our involvement in that project and through the course of this year, to become absolutely integral to any commercial success that that product may have. In addition to that, we’ve mentioned obliquely an interaction that’s on foot with a large global life science company. The signs and portents at the moment suggest that Mix&Go, will be used broadly across new products that are being developed by that company. That’s certainly something that we want to capitalise on and ensure reaches a commercial end point.
Lelde Smits: Geoff Cumming, thank you for the update from Anteo Diagnostics.
Dr Geoffrey Cumming: Thank you very much; it was a pleasure to be here again.
