AnteoTech (ASX:ADO) - CEO, Derek Thomson
CEO, Derek Thomson
Source: Pitt Street Research
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  • AnteoTech (ADO) signs a distribution agreement with Abacus for its EuGeni Reader platform and its rapid COVID-19 test
  • AnteoTech is currently awaiting Therapeutic Goods Administration approval for its products, which is expected in September
  • In the meantime, the company will commence distributor training and business development activities with Abacus
  • The agreement is for five years and is for exclusive sales into Australia, New Zealand and Pacific Islands
  • On the market, AnteoTech is up 5.41 per cent, trading at 19.5 cents per share

AnteoTech (ADO) has signed a distribution agreement with Abacus for its EuGeni Reader platform and its rapid COVID-19 test.

Abacus is a distributor of diagnostic pathology, medical research and innovative laboratory equipment solutions to a range of healthcare practitioners.

Currently, AnteoTech is hoping to receive Therapeutic Goods Administration (TGA) for EuGeni by September.

In anticipation of the TGA registration, AnteoTech will commence distributor training and business development activities with Abacus.

The agreement is for five years, with options to extend, and is for exclusive sales into Australia, New Zealand and Pacific Islands.

AnteoTech CEO Derek Thomson is pleased to be working with Abacus to bring EuGeni Reader and COVID-19 tests.

“The Australian Federal Government has flagged that rapid testing is likely to be an element of the process to reopen international borders. This change in stance is an important reason to accelerate our business development activity in Australia,” he said.

“Our home markets of Australia, New Zealand and the Pacific Islands are small yet important parts of our rollout strategy. The partnership with Abacus will extend our reach and capability for those markets.

“In addition, we are seeing significant opportunities in Europe and Asia and are focusing most of our internal efforts on these regions given the potential these markets offer and the challenges with COVID most are still facing.”

On the market, AnteoTech is up 5.41 per cent, trading at 19.5 cents per share at 10:32 am AEST.

ADO by the numbers
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