PharmAust subsidiary secures contract extension
PharmAust’s wholly-owned subsidiary Epichem has received a renewed vote of confidence from leading research and development organisation Drugs for Neglected Diseases initiative, or “DNDi”, which extended its current contract for an 11th year.
Epichem will continue to provide its synthetic and medicinal chemistry expertise to support DNDi’s drug discovery projects until 31st December 2019.
The contract extension is expected to generate up to $1.24 million in revenues for Epichem this year.
Epichem provides hi-tech products and services in chemistry and medical research and currently exports to over 33 nations. It has several global pharmaceutical players on its books and boasts a team of highly credentialed PhD’s.
DNDi’s research is focused on developing new treatments for neglected diseases such as leishmaniasis, Chagas disease and Filarial diseases.
Epichem Chief Executive Officer Dr Martine Keenan said: “This will mark our 11th year with DNDi supporting their important work and we look forward to continuing our long-standing relationship with them.”
PharmAust’s subsidiary officially opened its laboratory expansion in November last year, which are expected to increase Epichem’s revenues in the 2019 financial year.