Medlab Clinical Signs NRGBiotic (Depression Product) Deal with Cultech Limited
DATE: Wednesday 20th April 2022
Medlab Clinical Ltd (ASX:MDC) (Medlab, the Company), an Australian biotech using delivery technology to enhance medicines’ effectiveness, is very pleased to announce a northern hemisphere trade deal with the former contract manufacturer of NRGBiotic.
NRGBiotic is a specialised patented probiotic with clinical data (ASX announcement date: 05 July 2021) for patients with major depressive disorders.
- Three-year trade deal with Cultech Limited (UK based) for NRGBiotic to enter UK pharmacies and Health food stores
- Optionality for European and US expansion
- Ex-Factory royalty arrangements quarterly – soft launch until SEPT 2022
- The three-year term is based on signing, the first break is SEPT on the mutual agreement to the business plan
NRGBiotic was developed, researched, and patented by Medlab Clinical Ltd, but is manufactured by Cultech Ltd in the United Kingdom for its worldwide use.
Cultech are specialised probiotic experts and have their own branded line called “PRO-VEN Probiotics”. The PRO-VEN range is distributed extensively in the UK by Boots Pharmacy group, Holland and Barret Health Foods Stores and Discount Super Drug Pharmacies, as well as online.
Under the agreement terms, NRGBiotic (subject to a new name) will continue to be manufactured by Cultech exclusively for the PRO-VEN range and its UK distribution channels. Non-exclusive optionality is covered for PRO-VEN’s European and US expansion plans.
Terms of the agreement are three years (renewable) with business forecasting models agreed post Sept 2022 due to onboarding times with UK retailers, quarterly reconciliations based on a percentage of Cultech’s ex-factory revenue.
Dr Sean Hall, CEO of MEDLAB said, “This marks our first global nutraceutical deal since the divestment of the Australia only licence to PharmaCare, and secondly, we know Cultech very well, as we have worked with them on several products, inclusive of NRGBiotic for over a decade. Cultech are considered global leaders and experts in their field, we are really happy the NRGBiotic is now part of their branded lines”
NRGBioticTM is a multi-strain probiotic formula that also contains the ingredients Ubidecarenone (Coenzyme Q10) and Magnesium Orotate. NRGBiotic is protected by various patents.
Established in 1994 in Wales, UK. Cultech has become internationally recognised as both an innovator and premium quality manufacturer within the nutritional supplement industry, specialising in probiotic formulations and research.
The powerful combination of research scientists together with formulation, process and production technologies enables Cultech to provide a fully integrative manufacturing service, involving unique formulations, innovative presentation, and high- quality finished products.
PRO-VEN Probiotics (https://provenprobiotics.co/uk/) is Cultech’s lead brand and available in UK leading pharmacies and Health food stores.
To discuss global licensing opportunities please contact Medlab
About the author
Medlab in-house Editor.