AnteoTech Signs Five-Year Purchase Agreement for AnteoBind product; Shares Down Nearly 5%

MT Newswires Live2024-07-30

AnteoTech (ASX:ADO) signed a five-year purchase agreement for its AnteoBind product with vaccine producer Serum Institute of India at an annual order worth at least $370,000, according to a Tuesday filing with the Australian bourse.

The customer will use AnteoTech's product for its vaccine development. The first order worth $185,000 will be shipped in August, the filing said.

Shipment of the kits will be done twice a year. The agreement allows the parties to increase orders once regulatory approvals are obtained for the vaccines.

AnteoTech's shares were down nearly 5% in recent trade.

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