ANTEOTECH LTD — AGM Information 2010

Nov 29, 2010

ANTEO DIAGNOSTICS LTD (ASX:ADO)

Annual General Meeting 30th November 2010 WELCOME

MEETING FORMAT

•

Introductions

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Financial Accounts

•

Formal Resolutions

•

Other Business

•

Meeting Close

• CEO Report

INTRODUCTIONS

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INTRODUCTIONS

Anteo Diagnostics Limited

� James Henderson – Non Executive Chairman

� Richard Martin – Non Executive Director

� Dr Geoff Cumming – CEO

� Lara Iacusso – Non Executive Director

� Dr Joe Maeji – Chief Scientific Officer

� Dr Nevin Abernethy – Chief Product Development and Research Officer

� Shane Hartwig – Company Secretary Grant Thornton

� Daniel Carroll – Partner

FINANCIAL ACCOUNTS

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PROFIT AND LOSS Consolidated 2010 2009 Note $ $ Sales revenue 2 84,271 226,312 Cost of sales - - Grossprofit 84,271 226,312 Other revenue from ordinary activities 2 531,867 575,607 Selling and distribution expenses (486,775) (324,651) Occupancy expenses (33,000) (11,000) Administrative expenses – Other (507,597) (564,700) Borrowing costs 3 (123) (201) Research and development expenses (1,753,971) (1,769,450) Impairment of financial assets (30,000) - Other expenses from ordinary activities (60,077) (81,192) Loss from ordinary activities before income tax benefit (2,255,405) (1,949,275) Income tax benefit relating to ordinary activities 4 - - Loss from ordinary activities after income tax benefit 17 (2,255,405) (1,949,275) Total changes in equity other than those resulting from transactions with owners as ow ners (2,255,405) (1,949,275) Basic loss per share (cents) 7 (0.6) (1.1) Diluted loss per share (cents) 7 (0.4) (0.8)

BALANCE SHEET Consolidated 2010 2009 Note $ $ CURRENT ASSETS Cash assets 8 1,425,894 953,354 Receivables 9 53,271 75,643 Other 10 1,939 1,541 TOTAL CURRENT ASSETS 1,481,104 1,030,538 NON-CURRENT ASSETS Property, plant and equipment 11 242,102 301,591 Intangible assets 12 - - Other financial assets 13 - - TOTAL NON-CURRENT ASSETS 242,102 301,591 TOTAL ASSETS 1,723,206 1,332,129 CURRENT LIABILITIES Payables 14 204,406 241,703 Provisions 15 124,434 57,826 TOTAL CURRENT LIABILITIES 328,840 299,529 TOTAL LIABILITIES 328,840 299,529 NET ASSETS 1,394,366 1,032,600 EQUITY Contributed equity 16 24,153,408 21,536,237 Accumulated losses (22,759,042) (20,503,637) TOTAL EQUITY 1,394,366 1,032,600

CASH FLOW Consolidated Note 2010 2009 $ $ Cash Flows from Operating Activities: Receipts from customers and government grants 549,510 734,141 Payments to suppliers and employees (2,743,019) (2,796,997) Borrowing costs (717) (568) Interest received 43,995 127,304 Net cash used in operating activities 17 (i) (2,150,231) (1,936,120) Cash Flows From Investing Activities: Proceeds from disposal of non-current assets 20,000 - Payment for property, plant and equipment (12,628) (196,112) Net cash provided by investing activities 7,372 (196,112) Cash Flows From Financing Activities: Proceeds from share issues 2,732,628 - Capital raising costs (117,229) - Converting note distributions - (35,366) Net cash provided by (used in) financing activities 2,615,399 (35,366) Net increase (decrease) in cash held 472,540 (2,167,598) Cash at start of year 953,354 3,120,952 Cash at end ofyear 8, 17 (ii) 1,425,894 953,354

FORMAL RESOLUTIONS

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RESOLUTIONS

� Resolution 1 – � Resolution 2 – � Resolution 3 – � Resolution 4 – � Resolution 5 – � Resolution 6 – � Resolution 7 –

Adoption of Director’s Remuneration Report Re-Election of Director, Mr Richard Martin Re -Election of Director, Ms Laura Iacusso Issue of Options, Dr Geoffrey Cumming Resolution Withdrawn Issue of Options to Mr Richard Martin Issue of Options to Ms Laura Iacusso

RESOLUTIONS	RESOLUTIONS	RESOLUTIONS
		Resolution	For	Against	Open	Abstain
	1	Adoption of Remuneration	175,075,587	4,791,100	752,252	284,000
		Report
	2	Re-election of Mr Richard	178,644,337	1,221,250	757,252	280,100
		Martin as a Director
	3	Re-election of Ms Laura	168,111,004	11,421,250	757,252	613,433
		Iacusso as a Director
	4	Issue of Options to Dr	172 155 247 , ,	7 987 640 , ,	752 052 ,	8 000 ,
		Geoffrey Cumming
	5	Resolution Withdrawn
	6	Issue of Options to Mr	171,955,247	7,987,640	752,052	208,000
		Richard Martin
	7	Issue of Options to Ms	161,421,914	18,187,640	752,052	541,333
		Laura Iacusso

OTHER BUSINESS AND QUESTION TIME

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ANTEO DIAGNOSTICS LTD (ASX:ADO)

Better Binding - Faster Geoff Cumming - CEO November 2010

Company Overview (ASX:ADO)

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assessed by major international players
Patented Technology Significant and growing patent portfolio
Robust Deal Pipeline More than 30 of the major global names in
several distinct markets and market segments
are actively assessing our process in-house
Strong Balance Sheet Cash runway to end 2011 on current burn rate
Solid Shareholder Base Market Cap >$35M and growing
Top 20 hold 53%
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Business Model: Proprietary platform to build multiple pipeline and licensing opportunities

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,
Test developers (eg Future
Diagnostics, Rules Based Medicine)
IVD (Pathology) Bead manufacturers
Test manufacturers/suppliers (eg
Roche, Beckman, Abbott, DiaSorin)
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Business Model: Proprietary platform to build multiple pipeline and licensing opportunities

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Test manufacturers/suppliers (eg
Miltenyi, Chemagen)
Immunoprecipitation Proteomics manufacturers/suppliers
(eg GE, Waters, Agilent,
ThermoFisher, Sigma)
Other Anti-Fouling, Logistics, Solar Panels
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Lead Product: Mix&Go[TM]

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Successfully trialled by most major IVD suppliers and
found to improve sensitivity of tests, be easier than
current practice and lead to significant reductions in
COGS
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Mix&Go[TM] Technology

Signal

Signal

Signal

No Signal

Signal Signal

Signal

Signal

Mix&Go[TM] Improves the Performance of a Bead Commonly Used in Diagnostic Immunoassays

		Immunoassay Analyte	Immunoassay Analyte	Immunoassay Analyte	Immunoassay Analyte	Immunoassay Analyte	Immunoassay Analyte
		IL-6#		TSH		TNFα	GM-CSF
	Bead B + Mix&GoTM	1.3		0.01		3.8	13
	Bead B	10		0.06		37	1,000

Why Use Mix&Go[TM]

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RESULT:
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Increased profits
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Increased market share
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Mix&Go[TM] : Commercialization Strategy

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Strategic intent to access research market through bead
manufacturers
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Strategic intent to access pathology market through IVD
manufacturers/suppliers
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Model to be replicated in POC market segment and
immunoprecipitation market
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What could Mix&Go[TM ] be worth?

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$50-$250M
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Molecular Diagnostics
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>$100M
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Immunoprecipitation
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>$100M
Moderate success across these markets will significantly
impact on ADO revenues and profits
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Progress Over Past 12 Months

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POC Companies/Assay Developers 1 5
Molecular Diagnostics 2 4
Immunoprecipitation 1 11
-
Other 3
TOTAL 14 47
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