Willow Biosciences Inc (TSX:WLLW, OTCQB:CANSF) told investors it has executed a Master Services Agreement (MSA) with an innovative biotech company to develop ingredients for age-related disease.
The company said it aims to develop precision fermentation processes for a class of molecules with targets being developed as nutritional supplements for health and wellness and active pharmaceutical ingredients (APIs) through the partnership.
Using its FutureGrown technology platform and yeast-strain engineering expertise, Willow said it plans to develop a strain and process for the production of the partner company’s ingredients. Due to the disruptive potential nature of its targeted product applications, it could not disclose the partner's name and target molecules, the company added.
"We are delighted that our partner recognizes our expert strain engineering capabilities can help accelerate and support their product innovation needs to develop novel solutions for age-related diseases,” Willow president and CEO Dr. Chris Savile said in a statement.
”Furthermore, their dual commercialization strategy supports the generation of nearer term product revenue from the nutritional supplement segment along with the longer-term upside from the pharmaceutical sector.”
The first phase will be followed by a full process optimization program and entering into a commercial agreement for scaling up the targeted ingredients for use in consumer end-market products, Willow said.
“With this agreement and other positive developments we've announced in recent weeks, we continue to believe 2023 will be a solid year of growth and progress for Willow with the anticipation of our being able to post fundamentally improved financial results for the year,” Savile added.
Contact the author at stephen.gunnion@proactiveinvestors.com.