Aquapharm signs accord with Dr Reddy's Labs
Scottish marine biotechnology company Aquapharm Biodiscovery has signed a new commercial license agreement and extended an existing R&D accord with India's Dr. Reddy's Laboratories.
The commercial license covers selected strains from the Aquapharm library of novel marine micro-organisms. These strains will be used to generate commercial biocatalysts for specific applications in the manufacture of pharmaceutical intermediates at the Dr Reddy's R&D site at Cambridge, UK. This site was recently acquired by Dr Reddy's Custom Pharmaceutical Services business unit.
Under these agreements, Aquapharm will receive milestone payments as well as royalties on commercialization of the product by Dr Reddy's. Further financial details of the agreement are not being disclosed.
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