Anteo Diagnostics (ASX:ADO) has today posted on their website that Josh Soldo VP Scientific Affairs at Anteo after being invited by Beckman Coulter has given a presentation at their Knowledge Cafe.
Beckman Coulter is one of the Top 10 IVD companies in the world and was acquired by Danaher Corporation in 2011 for $6.8 billion in cash.
I think it is worthwhile noting that Josh Soldo who came to Anteo in August of 2014 has worked previously for Beckman Coulter and for Diasorin - During his time there Josh became aware of Anteo's technology platform and it's potential (This I know as I asked Josh this question at the 2014 AGM) - I think as an investor this to me was a good indication as to how the technology was viewed as Josh Soldo left Diasorin to join Anteo the small Australian minnow.
Beckman's Knowledge Cafe is an information sharing forum where employees of Beckman on site at their laboratories in Minnesota, and dialing in from around the world, meet to discover new technology.
The topics that were presented by Anteo included:
- The Capabilities of Anteo’s Mix&Go™ Technology
- Solving an Intractable Problem – Mitigating Sample Specific Interferences in Clinical Samples Utilizing a Novel Surface Chemistry Approach
The presentation :
SOLVING AN INTRACTABLE PROBLEM - MITIGATING SAMPLE SPECIFIC INTERFERENCES was a preview of the presentation Josh Soldo will give at the AACC OEM Lecture Series on Tuesday 28th July at 10:30am EST
MY THOUGHTS ON THE ABOVE
There are a few points I think are worth highlighting here :
- Firstly Josh Soldo left previous careers with Beckman Coulter and Diasorin to come to a tiny Australian Biotech - As an investor in Anteo this is a pretty good sign for how this technology is seen in Josh's eyes and the future he sees for Anteo to leave Beckman and Diasorin
- On 24th February 2015 Anteo released an ASX announcement giving detail on a patent filed for using Bioseparations for Sample Pre Treatment - see below some details from this announcement :
ANTEO TECHNOLOGIES FILES NEW PATENT New Bioseparations Patent For
Laboratory testing plays a critical role in health assessment, health care, and ultimately, the public's health. Test results contribute to diagnosis of disease, monitoring of treatment and health status, and population screening for disease. Laboratory testing affects people in every life stage, and almost everyone will have one or more laboratory tests conducted during their lifetime.
An estimated 7 to 10 billion laboratory tests are performed each year in the United States alone. Laboratory test results influence approximately 70% of medical decisions.
The global immunoassay market is substantial and considerable growth is forecasting the expanding use of immunoassays, new and innovative product launches by key industry players, increasing demand for high quality healthcare services and the rapidly increasing geriatric population are the major factors driving the global market.
Tremendous growth is expected in the next five years, as this market includes the high throughput automated systems that offer the highest sensitivity.
- And the below information came from Anteo's quarterly report on 30th April 2015 :
The pre-treatment patent addresses various sample specific interferences in IVD tests that can result in erroneous results and lead to unfavourable patient outcomes.
There is a need for a simple, inexpensive, automatable and effective solution to mitigate sample specific interferences without altering or changing the sample composition. In the U.S. alone up to 10 billion laboratory tests are performed each year, and the global immunoassay instruments and reagents market is expected to reach $19.1 billion by 2018.
Anteo Technologies is exploring strategic partnership opportunities to co-develop novel serum depletion products that have the potential to pre-treat hundreds of millions of patient specimens worldwide and improve the quality of reported patient results. This use of Anteo nanotechnology is applicable in traditional high throughput IVD systems, molecular spectroscopy and Point of Care sectors of the IVD market.
- This patent and process already seems to be gathering some significant interest and the fact it was presented to Beckman Coulter before the AACC I also find interesting.
- This is yet another area where Anteo has the potential to disrupt the current process - We are not talking about small market opportunities here. This market alone in the US has 10 BILLION tests done annually.
- Interference in samples can cause inaccurate testing results - Could Anteo's pre treatment process make this process many times better by reducing interference in the sample allowing for better and more accurate diagnosis?
- If this is the case and Anteo's technology is a one of a kind to allow this pre treatment to take place then the market opportunity here is massive - Not only could they potentially dominate this whole space but if it showed that Anteo's pre-treatment technique could be universally adopted and even made as an industry standard process for 100% of the tests?
- Could this be another opportunity for Anteo to leverage their IP and do a Joint Venture with a large player in this space?
- What I can see is continued added value being built into Anteo's IP - Investors that don't dig deep and think this company has a product are missing the big picture - Anteo has a technology platform that can be added to other products to make them potentially superior.