US$0.185m Order from Serum Institute of India

Following the recent Life Sciences Update – Indian Opportunities, provided to shareholders via the ASX on 3^rd December 2024, AnteoTech is pleased to confirm that it has received a further order for US$0.185m from Serum Institute of India,

Key Points

• US$0.185m Order for AnteoBind™ received from Serum Institute
• US$0.370m minimum orders for first year achieved within 5 months of entering contract
• Further orders for AnteoBind™ are expected during this financial year

This order follows recent face-to-face meetings in Pune, India, with senior management of Serum Institute and AnteoTech representatives. The order is expected to be shipped in the next two weeks following payment in full to AnteoTech.

AnteoTech has now received orders totalling the minimum of US$0.37m (A$0.58m) for the first year under the five year US$1.8m AnteoBind purchase agreement entered into in July 2024.  This has been achieved in the first five months of the purchase agreement and based on the expanded use cases, additional AnteoBind™ orders are expected to be received in the coming months which would exceed the minimum orders for FY25.

AnteoTech believes these increasing orders from a key Indian customer support the future commercial opportunity for AnteoBind™ by demonstrating growing market validation, expanding use cases, and potential for scaling adoption across the Indian market. The early achievement of the first year’s minimum purchase agreement within five months suggests strong initial demand and confidence in the technology’s performance and utility.