Willow Biosciences Inc (TSX:WLLW, OTCQB:CANSF) has announced the launch of BioOxi, a bio-oxidation platform technology that is complementary to the company's existing strain engineering and precision fermentation FutureGrown biotechnology platform.
Through BioOxi, it will be able to offer its commercial partners bioconversion-enabled chemical manufacturing of ingredients from defined intermediates with the benefit of removing multiple chemical steps and significantly reducing cost and resources.
"The launch of BioOxi is an exciting development in the history of Willow and represents the next strategic step to significantly diversify our portfolio and market opportunities with a keen focus on nearer-term revenue generation," said Dr Chris Savile, Willow's president and CEO in a statement.
"We see this new platform as posing a powerful, clean and cost-effective solution to our prospective partners' chemical manufacturing challenges that is highly complementary to our existing strain engineering and precision fermentation business. Based on our prior success in utilizing BioOxi to support our partners we believe it will lead to additional commercial agreements going forward," he added.
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The launch of BioOxi follows the success of the platform in an agreement with Kalsec Inc. to develop and commercialize a precision fermentation production process for a high volume, natural food opportunity, and in engagements with Sandhill One, LLC to optimize a proprietary enzyme for a targeted product for the manufacturing of the large volume active pharmaceutical ingredient, ursodeoxycholic acid (UDCA).
Willow said the launch of BioOxi broadens the company’s addressable total market opportunity and provides nearer-term revenue generation for BioOxi-related projects.
The company said it will pursue BioOxi programs through both internal and external investment, through “astutely planned and strategically aligned programs” that it expects will expand its product portfolio and partnerships toward improved company valuation.
Willow Biosciences develops and produces precision fermented functional ingredients for the health and wellness, food and beverage and personal care markets.
Contact the author at jon.hopkins@proactiveinvestors.com