Anteo licenses Mix&Go to eBiosciences
Tuesday, 13 March, 2012
Queensland's Anteo Diagnostics (ASX:ADO) has signed a licensing agreement with a US life sciences company covering its Mix&Go molecular glue.
Anteo has agreed to supply Mix&Go, which enables the attachment of biomolecules to synthetic surfaces, to San Diego-headquartered eBiosciences.
Mix&Go is designed for use in in vitro diagnostics, drug manufacturing and drug discovery.
Under the terms of the deal, Anteo will be entitled to an initial upfront payment, fixed revenue for Mix&Go units supplied and a quarterly royalty payment based on a percentage of net sales.
The sums have not been disclosed, but Anteo CEO Geoff Cumming said the deal “represents a significant commercial opportunity.”
Anteo announced that it expects to work closely with eBiosciences to help bring products that incorporate Mix&Go to market.
eBiosciences CEO Don Tartre said his company will initially use Mix&Go in its FlowCytomix bead-based immunoassay product line.
According to Cumming, Anteo is involved in negotiations with a range of other parties interested in adopting the Mix&Go technology.
“We are committed to building a pipeline of commercial supply agreements across a range of healthcare sectors,” he said.
Anteo Diagnostics (ASX:ADO) shares closed out Tuesday nearly 15% higher at $0.085, following a day of high-volume trading.
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