Anteo Diagnostics Limited (ASX: ADO) is a nanotechnology company. It is into development and commercializing of products in the life sciences research, diagnostics, energy and in the market for medical devices. Anteo Technologies Pty Ltd is a fully-owned subsidiary of Anteo Diagnostics Ltd.
On 17 January 2018, the company has announced a new collaboration signed with Canadian Stock Exchange-listed Sona Nanotech Inc. Both the parties will combine their respective technologies to co-develop new products that have the potential to speed up the development and improve the performance of lateral flow immunoassays.
Lateral flow tests are used to detect if any target is present in a liquid sample without resorting to specialized and costly equipment, which is also known as lateral flow immunoassays. These tests are generally used for medical diagnostics either for home testing, point of care testing, or laboratory clinic use.
AnteoBind is becoming reputed and playing an important, performance-enhancing role in the development of lateral flow tests. However, with this collaboration, Anteo and Sona will use important POC targets in the fields of Cardiac, Sepsis and Pregnancy testing to assess the improvements that can be achieved to these lateral flow tests. If the company can generate any positive results, it will encourage the global developers of lateral flow tests in these, and other important testing areas, to adopt Anteo and Sona’s new, co-developed products.
Sona has lodged the attached press release on the Canadian Stock Exchange which provides a comprehensive overview of the collaboration.
The Chief Executive Officer of Anteo, Christopher Parker was pleased to announce about the progress and building of the company’s pipeline for commercial collaborations. Sona is an example of the growing appeal and broad adaptability of AnteoBind for Life Sciences, Diagnostics, and Point of Care device companies. As mentioned, the company will report on the progress of this new collaboration going forward.
The CEO of Sona Darren Rowles said that the project has an objective of developing sets of reagents together, that can benefit all lateral flow assay developers worldwide, by providing products that can reduce the time for the key production process and will increase the performance of tests.
As agreed, Sona Nanotech will supply its unique, gold nanorod technology to Anteo. This technology will be combined with the proprietary AnteoBind technology. Anteo will help Sona Nanotech in conducting its in-house assessment and to assess the lateral flow assay format.
As far as the performance of Anteo Diagnostic’s stock and return is concerned which has posted over the last few months. Currently, it is trading at a price of $0.018 with the market capitalization of ~$20.88 million. The stock opened at $0.020 with a day high of $0.021 and a day low of $0.018. The company posted returns of 38.46% and 5.88% over the last three months and one-month period respectively. It has a 52-week high price of $0.024 and a 52-week low of $0.010, with an average volume of ~4.23 million approximately.
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