Blood test biotech Anteo Diagnostics (ASX:ADO) is poised to increase sales of its Mix&Go molecular glue product range after reaching an agreement with life science and technology company Sigma-Aldrich Corporation (NASDAQ:SIAL).
Sigma-Aldrich, a US$16.7 billion market cap., is a leading supplier to diagnostic, clinical research and life science companies worldwide.
It is in the process of being acquired by Merck KGaA (NYSE:MRK) for US$17 billion.
Under the agreement, Anteo's products will be offered through the Sigma-Aldrich network and online catalog from Q3 2015.
This provides access Sigma-Aldrich's existing global customer base of more than 1.4 million scientists and technologists.
Inclusion of Anteo products into the Sigma-Aldrich portfolio follows the successful evaluation of Mix&Go for a variety of applications over the past year at Sigma-Aldrich's labs in St. Louis, Missouri.
Tina Baumgartner, Anteo Technologies vice president business development, said:
"Acceptance of Mix&Go by such a respected party as Sigma-Aldrich provides great commercial validation of Anteo's technology.
"This is an encouraging first step in what is an important relationship, one which is envisaged to generate additional products for sale going forward. We expect sales to build over time.
"Being included in the Sigma-Aldrich range enables unprecedented access for Anteo into Sigma-Aldrich's key markets, and removes some of the barriers to entry that often occur with a direct sales approach."
Mix&Go is the healthcare application for Anteo's nanoglue technology.
It uses coordination chemistry (rather than covalent chemistry or passive binding) for gentle and secure multipoint binding of biomolecules to synthetic surfaces.
This offers ease of use, increased antibody functionality and decreased background interference.
Assays produced using Mix&Go can result in reduced development costs and improvements to medical devices and in-vitro diagnostic methods, leading to the earlier detection of disease.
The agreement to offer the Mix&Go product range through Sigma-Aldrich's network and online catalog demonstrates the laboratory testing materials supplier's confidence in Anteo's products.
It also indicates that Mark Bouris chaired Anteo and its products are being noticed by major players in the industry.
Besides building sales, the agreement is also the first step in a relationship that could generate additional products for sales.
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