Willow Biosciences Inc (TSX:WLLW, OTCQB:CANSF) announced a collaboratiion with a leading Active Pharmaceutical Ingredient (API) manufacturer to develop a more sustainable and cost-effective manufacturing process for their largest product.
The company said that its partner had recognized it needed to deploy more sustainable methods to manufacture its APIs with reduced cost and waste and engaged Willow to develop and scale a manufacturing route for this key ingredient, focusing on optimization of the existing commercial biomanufacturing process for improved performance at scale.
The development phase of the funded partnership is expected to last about 6 months with additional milestone payments available for achieving defined performance targets.
"We are excited to once again apply our technology platform to the manufacture of more sustainable APIs for existing, large-volume global markets," Willow CEO Dr. Chris Savile said in a statement.
"If successful, we believe that these ingredients essential for human health can be made more broadly available and more efficiently while also delivering significant value to our partner and shareholders."
The company also highlighted that this agreement was the second it had executed in the first few weeks of 2024 and that it has a robust pipeline of other potential collaborations.
Willow Biosciences develops and produces precision fermented functional ingredients for the health and wellness, food and beverage and personal care markets.