Ambri (ABI)

Stock Code

ABI

Stock Exchange

Australian Securities Exchange

Ambri (ABI) is a biotechnology development company. Its principal activities include integrating biotechnology, nanotechnology and electronics to make biosensors for medical and industrial applications. ABI listed on ASX on 16 June, 2000. AMBRI is engaged in the development of a biosensor platform incorporating AMBRI’s Ion Channel Switch (ICS) Technology to be used in the products for the human point-of-care diagnostic market. The ABI’s Ion Channel Switch (ICS) Technology is a patented, self-assembling synthetic bio-membrane, which is one of the first true 'bio nano' devices in the world. On December 11, 2006 Ambri completed the 100% acquisition of Glykoz Pty Limited. The company is focused on the development of simple to use diagnostic tests for physicians and hospitals, mainly in Australia and the US.

AMBRI was previously focused solely on commercializing its patented Ion Channel Switch (ICS) technology since the late 1990s. In 2006, the Company also started to pay attention to the acquirement of new businesses with revenue and profit streams.

The Company implemented cost reduction measures in February 2005 and again in early 2006 after missing many major development goals and facing serious budget overruns. The R&D effort in 2006, in spite of being very much scaled back, opened up promising new opportunities for the biosensor technology, which were the focus of a scientific paper published in August 2007.

The development of the AMBRI technology to a commercial ready biosensor platform demands for expertise and resources beyond AMBRI, which made ABI to stop its own R&D. The Company is now focusing to progress the commercialization effort only via proper partnership.

Ambri History

The company originally was listed as Optecom in June 2000. It was renamed to Ambri as a part of a back door listing in July 2001. AMBRI has its head office located in Chatswood.