Itochu in Australian biotech pact

Itochu Corp has entered into an alliance with three Australian researchinstitutes, with the aim of marketing their biotechnology products in Japan, according to the Nihon Keizai Shimbun. The three institutes include two state-affiliated groups - the Commonwealth Scientific and Industrial Research Organization and the Australian Institute of Marine Science - as well as the Institute for Molecular Bioscience.

Principally, Itochu will market biotechnology software for genetic diagnosis and protein analysis, developed by the CSIRO and the IMB, to Japanese pharmaceutical firms. It is the first time that Itochu has linked up with a foreign institute in the biotechnology field.