AnteoTech Ltd (ASX: ADO) Expands Partnerships in Indian Healthcare Market
Commercial Engagement Growth
AnteoTech Ltd (ASX: ADO) announces significant progress in its commercial activities in India, targeting a healthcare market projected to surpass US$638 billion by 2025. Recent management visits have strengthened ties with key Indian partners, marking an essential phase for the company’s life sciences division.
Serum Institute of India Developments
The Serum Institute of India is reportedly evaluating expanded applications for AnteoBind™, with a pending accelerated order anticipated. The ongoing partnership stems from a five-year, US$1.8 million purchase agreement signed in July 2024, which mandates minimum annual orders. Due to effective utilization, additional AnteoBind orders are expected to exceed the minimum requirements for FY25.
Partnership with Vidcare Innovations
AnteoTech has been working with Vidcare Innovations since early 2024 to assess AnteoBind NXT for their hypo-thyroidism test, known as “Mu-sure.” The commercial evaluation began in August and could lead to a supply agreement in early 2025, giving AnteoTech a foothold in a government-supported health initiative.
Executive Insights
David Radford, CEO and Managing Director of AnteoTech, stated, “Our life sciences team is receiving strong engagement in meetings with their counterparts at our key Indian customers. We laid a platform with Serum Institute to work together, and that is now coming to fruition with growing orders expected.” Radford highlighted the opportunity to support Vidcare in their ambitious initiative as another significant near-term potential.
Conclusion
With these advancements, AnteoTech aims to leverage the growing healthcare sector in India and solidify its position through strategic partnerships and innovative technologies.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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