Perth-based PharmAust signs exclusive biotech deal
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Welshpool-based pharmaceutical group PharmAust, through its wholly owned subsidiary Mimotopes, today signed an exclusive new three-year biotech contract to supply research-grade peptides.
The new three-year contract will see Mimotopes become the sole and exclusive provider of research-grade peptides worldwide (outside of Japan) to Invitrogen, a company which operates in more than 70 countries around the world.
The deal places Mimotopes products in nearly every major laboratory in the world and gives it access to the rapidly growing US$500 million research grade peptide market.
It also provides a firm foundation for Mimotopes to achieve its goal of securing 5 per cent of the market globally.
PharmAust Managing Director Dr Paul D'Sylva said, "This contract will cement Mimotopes position as the pharmaceutical industry's Australian partner of choice for research grade peptides."
"Mimotopes is now able to expand its production capacity locally as well as enhance its
production capabilities offshore by way of strategic out-sourcing arrangements."
California-based Invitrogen provides essential life science technologies for disease research and drug discovery to pharmaceutical and biotechnology companies, as well as research institutions.