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Anteo Diagnostics Ltd's New CEO Dr Jef Vangenechten Commences

Anteo Diagnostics Ltd's (ASX:ADO) new chief executive officer, Dr Jef Vangenechten, has now commenced with the company.

Vangenechten is currently chief executive officer of DIAsource Immunoassays, which was recently acquired by Anteo.

Anteo is a global technology company that is using its patented platform technology to develop and commercialise products for sale into the life sciences, in-vitro diagnostics (IVD), point of care, medical devices and energy markets.

DIAsource now forms the nucleus of the IVD and life sciences division.

DIAsource is a specialty immunoassay business, which in simple terms means they manufacture and sell pathology tests used to detect, diagnose and monitor diseases.

Revenue continued to grow during the March 2016 quarter.

Vangenechten commented: "Ever since my introduction to Anteo's innovative coating technology several years ago I was intrigued by the value potential of the technology for the life science and diagnostics markets.

"A better understanding of the elegant science, coupled with the steadily expanding patent portfolio of Anteo, now has me anticipating far more and different opportunities than I originally envisaged.

"Today the Anteo Group rests on a strong profitable foundation offered by the growing DIAsource business, a platform to be used for the development of Anteo's core coating technology."

Commercialisation

The acquisition of DIAsource offers an ideal platform to commercialise the Anteo technology in the life sciences and diagnostics market.

DIAsource offers a mature business environment, revenue and profitability driven, with a solid growth plan.

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