ANTEOTECH LTD — AGM Information 2015

Nov 8, 2015

Anteo Diagnostics Limited (ASX:ADO) Annual General Meeting

9 November 2015

Meeting Format

1. Introductions

2. Formal Resolutions

3. CEO Report

4. Other Business

5. Meeting Close

==> picture [197 x 198] intentionally omitted <==

2

Introductions

Anteo Diagnostics Limited – Directors in attendance

==> picture [105 x 133] intentionally omitted <==

Mark Bouris, Non-Executive Chairman

==> picture [104 x 130] intentionally omitted <==

----- Start of picture text -----

M
----- End of picture text -----

Dr Geoff Cumming, CEO

==> picture [104 x 132] intentionally omitted <==

----- Start of picture text -----

M
----- End of picture text -----

Richard Martin, Executive Director and CFO

==> picture [104 x 132] intentionally omitted <==

Sandra Andersen, Non-Executive Director

==> picture [104 x 132] intentionally omitted <==

Dr John Hurrell, Non-Executive Director

Grant Thornton – Auditor in attendance

• Matthew Bell – Partner

3

Formal Resolutions

Resolution	Description
Resolution 1:	Adoption of Directors’ Remuneration Report
Resolution 2:	Re- Election of Director (Ms Sandra Andersen)
Resolution 3:	Approval of 10% Placement Capacity
Resolution 4:	Ratification of Share Issue
Resolution 5:	Approval of Issue of shares under Share Purchase Agreement with DIAsource Immunoassays SA

4

Resolutions: Proxy Count

Resolution	Description	For	Against	Open	Excluded	Abstain	Totals
Resolution 1:	Adoption of Directors’ Remuneration Report	203,796,011	9,282,883	0	0	670,428	213,749,322
Resolution 2:	Re- Election of Director (Ms Sandra Andersen)	188,360,235	10,549,144	13,928,515	0	911,428	213,749,322
Resolution 3:	Approval of 10% Placement Capacity	174,119,105	21,643,870	13,853,515	0	4,132,832	213,749,322
Resolution 4:	Ratification of Share Issue	161,986,244	9,440,269	13,853,515	23,761,112	4,708,182	213,749,322
Resolution 5:	Approval of Issue of shares under Share Purchase Agreement with DIAsource Immunoassays SA	187,957,611	7,226,714	13,852,115	0	4,712,882	213,749,322

5

CEO Update: the year in review

6

Forward Looking Statement

The purpose of the presentation is to provide an update of the business of Anteo Diagnostics (ASX:ADO). These slides have been prepared as a presentation aid only and the information they contain may require further explanation and/or clarification. Accordingly, these slides and the information they contain should be read in conjunction with past and future announcements made by Anteo and should not be relied upon as an independent source of information. Please contact Anteo and/or refer to the Company's website for further information.

The views expressed in this presentation contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information.

Any forward looking statements in this presentation have been prepared on the basis of a number of assumptions which may prove incorrect and the current intentions, plans, expectations and beliefs about future events are subject to risks, uncertainties and other factors, many of which are outside Anteo Diagnostics Ltd’s control. Important factors that could cause actual results to differ materially from assumptions or expectations expressed or implied in this presentation include known and unknown risks. Because actual results could differ materially to assumptions made and Anteo’s current intentions, plans, expectations and beliefs about the future, you are urged to view all forward looking statements contained in this presentation with caution.

This presentation should not be relied on as a recommendation or forecast by Anteo Diagnostics Limited. Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

Investment Highlights

• Anteo Diagnostics has a unique, disruptive, nanoglue technology that can be used in a variety of applications, supported by a strong IP portfolio

• Customers are now working with the Mix&Go technology in IVD, POC, Life Sciences, Bioseparations and Medical Devices.

• Anteo is acquiring DIAsource: a Belgian company with growing revenue, stable margins, ISO 13485 approved manufacturing and significant near term revenue development opportunities

• The acquisition transitions the Anteo group towards a cash flow positive position , it has complementary technology, significant value adding opportunities and accelerates the Anteo business development program.

8

Pursuing Strategic Growth

==> picture [616 x 126] intentionally omitted <==

The five growth areas have led Anteo to crystallise our approach to revenue generating activities, and position the Company for future growth.

9

Exploiting Existing IP

==> picture [616 x 126] intentionally omitted <==

10

Current Accessible Markets for Mix&Go

Primary markets Market Value (US$ pa) Global In Vitro Diagnostics (IVD) - immunoassays 15 billion Global life sciences 2 billion*	Primary markets Market Value (US$ pa) Global In Vitro Diagnostics (IVD) - immunoassays 15 billion Global life sciences 2 billion*	Anteo is heavily focused on driving growth in primary markets Appetite for Mix&Go has reached a tipping point with IVD and life-sciences customers
	Value (US$ pa)
	15 billion*
	2 billion**

Secondary markets	Secondary markets	The versatility and need for our Nanoglue technology has created three secondary areas of business; each driven by customer need
Market	Value (US$ pa)
Bioseparations	6 billion***
Medical device coatings	7.6 billion****
Batteries (in R&D)	30 billion*

 Mix&Go is currently in products going through regulatory process.

Market and Markets 2014 ** internal research immunoassay estimate *** BioPharma-Reporter.com August 2016 * Transparent Market Research Medical Device Coatings 7-04-2015 ** Frost and Sullivan 2009

11

Diagnostics Market Dynamics

Global In Vitro Diagnostics Market (2012) Total USD 64.7 billion

• The global immunoassay market size has forecast revenues of US$19.1 billion by 2018

==> picture [329 x 226] intentionally omitted <==

----- Start of picture text -----

Microbiology Hemostasis
Hematology 5% 3%
7%
Tissue diagnostics
7%
[CATEGORY NAME]
[PERCENTAGE]
Molecular
diagnostics
11%
Point of care
diagnostics
12%
Self-monitoring
blood glucose
19%
----- End of picture text -----

• Tier-one players (Roche, et al) control 80% of market, driven by scale, large automated systems, broad product range, deep customer penetration, etc

• • Remainder of the market is highly fragmented

• Niche opportunities for small to medium laboratories and esoteric assays – like DIAsource as a mid-tier and niche player

12

Anteo’s Solution: Mix&Go Universal Glue

==> picture [186 x 172] intentionally omitted <==

----- Start of picture text -----

3D structure is Orientation
damaged is random
----- End of picture text -----

Without Mix&Go

Consequences

Vast majority of proteins are nonfunctional

Lower sensitivity, LOD, dynamic range, non-specific binding More protein needed, scale up problems,

Batch to batch uniformity issues

==> picture [10 x 384] intentionally omitted <==

==> picture [397 x 170] intentionally omitted <==

----- Start of picture text -----

Undamaged, Proprietary solution:
oriented metal polymers
----- End of picture text -----

With Mix&Go

Characteristics

Benefits

Undamaged, fully functional proteins on Increased performance, sensitivity surface Less non-specific binding Improved protein stability Less protein and/or beads require(up to Reduced cost 90%) Saves valuable proteins, e.g. antigens Easy and fast to use and manufacture Improves efficiency (incubation takes minutes c.f. hours) No anti-species antibody or streptavidin Manufacturing scales well Improved reproducibility, uniformity Improved accuracy with improved %CV

13

Mix&Go Sales Cycle

==> picture [568 x 236] intentionally omitted <==

----- Start of picture text -----

Mix&Go Product
Suite
1 2 3
Direct Sales:
Co-Development: Licensing / supply:
Distributors include
Partners include Partners include
Sigma Aldrich,
BBI, POC1, IMRA Merck KGaA,
Veritas & Koma
& Cook Medical Affymetrix & Bangs
Biotech
----- End of picture text -----

Product Customer Market Discovery Integration / Development Clinical Launch $ Uptake $$ Tests $$$

14

Adoption of Mix&Go in Core IVD/LS Markets

• Licensing - (Merck KGaA, Affymetrix, Bangs Laboratories)

• Co-development of products through partnerships (BBI, POC1, IMRA, Sigma Aldrich plus a number of global life science and veterinary companies worldwide)

• Product sales - Mix&Go Reagents, Coupling and Activation Kits are being sold and used globally

• o Distribution - Veritas Corp. (Japan, exclusive) and Sigma Aldrich (global, non-exclusive), Koma Biotech (Korea, non-exclusive)

• Medical Devices – Cook Medical (Co- development) and University of Queensland (In Vivo)

==> picture [132 x 312] intentionally omitted <==

15

Exploiting Existing IP

o AMG kits – launch of the Anteo Mix&Go off the shelf products

o Kits combine IP with Anteo’s knowhow allowing users to adapt quickly to Mix&Go chemistry

o The introduction of the 200nm kit has brought a strong response and is part of a regulatory trial with a long-term supply agreement

==> picture [226 x 226] intentionally omitted <==

AMG Activation Kit – just one of the kits in the Anteo Mix&Go range

16

Expanding Core Competencies and IP

==> picture [616 x 126] intentionally omitted <==

17

Expanding Core Competencies and IP

o Increasing portfolio in nanometre thin

glues – for almost any platform and surface (hydrophilic to hydrophobic)

• Toolkit that complements Mix&Go (in all AMG products)

o Patent portfolio progress - 5 new

• Conjugating Molecules to Particles,

• Heterofunctional Binding Systems,

• Sample pre-treatment

• Energy

• Functional coatings

==> picture [219 x 291] intentionally omitted <==

VP of Scientific Affairs, Josh Soldo discusses sample pre-treatment IP at AACC

18

Development of Products

==> picture [616 x 126] intentionally omitted <==

19

Development of Products

3 Mix&Go and 5 AMG Kits on Market

o AMG™ Activation Kit for Multiplex

Microspheres – December 2014: custom developed for use with Luminex particles

• AMG™ Coupling Kit, 200 nm

==> picture [284 x 160] intentionally omitted <==

Magnetic Particles - primarily used for lateral flow testing,

Above: a selection of products available to customers through the Anteotech.com website

o 3 more kits scheduled by Q1 2016 (Good feedback from beta testing)

20

Exploiting Non-core Opportunities

==> picture [616 x 126] intentionally omitted <==

21

Exploring Non-core Opportunities

o Cook Medical collaboration – assessing the use of Mix&Go in vivo (in bodies) through medical device applications – good relationship and prototypes well received

==> picture [194 x 126] intentionally omitted <==

o Anteo Energy project – Research using Anteo’s nanoglue technology affirms value proposition to improve efficiencies in capacity, charging times and battery life.

==> picture [228 x 81] intentionally omitted <==

22

Acquisition of Synergistic Assets

==> picture [616 x 126] intentionally omitted <==

23

Acquisition of Synergistic Assets: DIAsource

• Established in 1971, DIASource is a privatelyowned and independent specialist diagnostic company, based in Belgium

• Vertically-integrated company that develops, manufactures, markets and distributes clinical diagnostic products in the fields of endocrinology; especially bone metabolism, fertility, cardiovascular and oncology

==> picture [278 x 196] intentionally omitted <==

o Established catalogue of ~300 products, with sales in 75 countries through direct channels as well as a network of 90 main distributors and 40 OEM partners

24

DIAsource: Company Overview

• 2

• • Located in a 4,500m facility in the science park of the University Louvain-la-Neuve, near Brussels in Belgium

• ISO 13485 manufacturing facility that produces FDA/CE approved products with further capacity available for growth

• All employees, including

• management, will remain with the Company following the combination with Anteo (100 FTEs in the merged business)

==> picture [274 x 208] intentionally omitted <==

----- Start of picture text -----

NETHERLANDS
Louvain-La-Neuve
GERMANY
BELGIUM
FRANCE LUX.
----- End of picture text -----

==> picture [103 x 209] intentionally omitted <==

• Highly-experienced DIAsource Chairman, Rolf Sickman, to join the Anteo Board

25

DIAsource: Key People

==> picture [105 x 123] intentionally omitted <==

Mr Rolf Sickmann – will join Anteo Board

Rolf Sickman, Chairman

• Commenced career at the Amsterdam stock exchange as an advisor for institutional investors on fixed income investments

• In 1988, joined Kempen & Co and handled institutional sales fixed income, alternative investments and corporate structures

• In 1993, appointed co-head fixed Income and Derivatives at Banque de Suez

• During the following years, developed and managed 2 single family offices from the ground up overlooking in excess of 1 billion Euros in investable assets

• • Master of Laws at the Vrije Universiteit in Amsterdam in 1984

Dr Jozef Vangenechten, CEO & Founder

==> picture [104 x 107] intentionally omitted <==

Dr Jozef (Jef) Vangenechten

• President of Vita B.V.B.A., Executive Vice President of Commercial Operations at BioSource International Inc. & Managing Director of BioSource Europe, S.A., BioSource International Inc.’s Belgium subsidiary, from 1998 to 2004

• From 1988 to 1998, worked for SGS (Societe Generale de Surveillance, Switzerland) as General Manager and Director of their environmental consultancy operations in Belgium

• From 1981 to 1988, worked as a Researcher at the Radiobiology Division of Belgium Nuclear Energy Research Center

• Masters and Ph.D. degrees in Biology and Physiology from the University of Antwerp in Belgium

26

DIAsource: Product Categories

==> picture [587 x 105] intentionally omitted <==

ELISA and Vitamin D assays Instrumentation RIA assays Antibodies Immunoassays Enzyme-linked RadioimmunoAn antibody is a that that test immunosorbent assays (RIA) use protein molecule Vitamin D levels assay (ELISA) is short life that can be found in the blood. a test that uses radioactive in the blood and Can be of many antibodies and isotopes, such as is intended to varieties, colour change to I[125] , for labelling attack bacteria, including RIA, identify a in an immunoviruses and ELISA and on substance. assay. foreign large automated RIAs are substances. systems. recognised as These are a basic Point of Care extremely element of an Vitamin D assays sensitive. immunoassay. are now starting develop.

27

DIAsource: Global Distribution Platform

==> picture [671 x 368] intentionally omitted <==

----- Start of picture text -----

66% Sales in
EMEA
19% Sales in
Americas • Sino FDA
approval for
Vitamin D
15% Sales in
provides large
Asia Pacific
market
rIrawa d y opportunity in China
• Additional
opportunities for
RIA in Republic of
Korea – growing
market
Significant opportunities for Anteo’s Mix&Go
product range across established distribution
channels
----- End of picture text -----

Note: DIASource sells products into 75 countries. Core markets (those with sales >€100,000 in FY14) have been illustrated with flags. Key markets (ranked by quantum of sales) include Belgium, the United States, Germany, Spain, Iran, Republic of Korea, China, Italy, Brazil, India and France.

28

DIAsource: Revenue & Earnings Growth

DIAsource has achieved 4 years of consistent revenue & EBITDA growth – with ongoing margin expansion

==> picture [6 x 32] intentionally omitted <==

----- Start of picture text -----

€ millions
----- End of picture text -----

==> picture [154 x 79] intentionally omitted <==

----- Start of picture text -----

Earn-out (EO) revenue targets,
as agreed with vendors
o
o
Margin (%)
----- End of picture text -----

Generated revenue of €11.9m (A$18.0m) in 2014 and €7.2m (A$10.9m) in the first half of 2015

On track to achieve EBITDA targets in FY15 (31 Dec balance date)

o

Represents revenue growth of 25%

o

Recently booked the fifth consecutive growth quarter and fifth consecutive best quarter ever in the Company’s history, thanks to growth in its Vitamin D portfolio and its established line of specialty RIA and ELISA assays

• FY16 & FY17 data as agreed with vendors

• KPMG are the company’s auditors. Grant Thornton provided financial & tax due diligence services

Note: Financial year end 31 December.

29

DIAsource Acquisition

Anteo Diagnostics to acquire 100% of the equity of DIAsource ImmunoAssays SA in Belgium retaining the operational management.

• Purchase price of €15.4m (A$23.3m) with two year vendor earn-out of up to €7.3m (A$11.1m), subject to achievement of revenue and margin targets

• Revenue of €11.9m (A$18.0m) in 2014 and €7.2m (A$10.9m) in 1H 2015 (25% growth pcp), with EBITDA margins of 20%

• DIAsource team to join Anteo. Chairman to join Anteo Board and CEO to run current business. Combined employees to number 100

• Transitions Anteo towards a cash flow positive business with global distribution, design & manufacturing capabilities and a broad product range

• 75 countries; 90 main distributors and 40 OEM partners

30

DIAsource – Key Benefits to Anteo

	DIAsource – Key Benefits to Anteo
	e DIAsource is a profitable, growing business which will contribute significantly to Anteo's bottom line
	Complementary to ADO’s Mix&Go technology - technical synergies
	ISO 13485 quality accreditation - credibility for Anteo customers – margin value add
	Vertically integrated operation - utilise Mix&Go for faster development
	Manufacturing capability - capacity to increase output by >40%
	75 country distribution network - cross-sell across geographies and clients
	FDA approval for Vitamin D Elisa assay - US POL market
	Critical mass - benefits of scale from extra Anteo business
	Unique Vitamin D Antibodies - ability to leverage internal capability around Vitamin D
	Strong European foothold, highly experienced team that understands the market
	Increase overall profile of Anteo in the Australian equity market and deliver returns to shareholders

31

Summary and Conclusions

• Anteo’s strong portfolio of nanoglue products and IP positioned within >$60b of addressable market space

• Acquisition of DIAsource meets all the criteria set

• Cash flow positive business

• Technical synergy

• Is accretive

• Manufacturing capability, Vitamin D, geographic presence and eproduct integration accelerate the Anteo market opportunity

• Transitions Anteo towards a cash flow positive business

==> picture [213 x 338] intentionally omitted <==

32

Contacts

Dr Geoff Cumming, CEO Anteo Diagnostics (ASX: ADO) Mobile: +61 417 203 021 Email: geoff.cumming@anteodx.com Web: www.anteodx.com

Investor relations: Jane Lowe, IR Department Mobile: +61 411 117 774 Email: jane.lowe@irdepartment.com.au

33