In late October 2015, Anteo Diagnostics announced that it had entered into a non-exclusive distribution agreement with KomaBiotech (Koma), who will market, distribute and support Anteo Mix&Go (AMG) products across South Korea. The agreement with Koma is seen as a major step into developing a strong sales channel into South Korea, and continuing to implement its multifaceted revenue model across the globe.
Anteo’s CEO, Dr. Geoff Cumming believes that the agreement with Koma will give them the support on the ground that they need to sell their Anteo Mix&Go (AMG™) products. Anteo’s CEO, Dr. Geoff Cumming, commented, “We are pleased to be able to work with Koma, an established market leader in South Korea, which has a long and respected history of servicing this region. Having a partner like Koma, which is expert in sales, marketing and the provision of quality customer support in the South Korean market, is important for Anteo."
In a chat between The Biotechnician and Dr. Cumming, Dr. Cumming said that the agreement states that Koma shall be distributing the AMG product range starting in November 2015. This timing allows Koma the necessary preparation time for sales and marketing teams to become fluent in the Mix&Go technology as Koma participates at a diverse number of local conferences and exhibitions throughout the year with the most active period occurring in the first six months of the calendar year.
Koma isn’t the only distributor that Anteo Diagnostics as teamed up with in South Korea. In order to truly realize its multifaceted revenue model, the team at Anteo has partnered with other distributors in South Korea and will continue to seek for more revenue streams.
Dr. Cumming believes that the South Korean market has significant potential mainly due to its aging population and their economic headwinds. “The life sciences industry in South Korea is substantial and growing due to the health and economic challenges which accompany the region’s rapidly aging population. It has a population of over 50 million people, so it’s quite an attractive market,” said Dr. Cumming.