Medlab Clinical (ASX:MDC) has announced a northern hemisphere trade deal with the former contract manufacturer of NRGBiotic.
NRGBiotic is a specialised patented probiotic for patients with major depressive disorders.
The three year deal with UK-based Cultech will support the entry of NRGBiotic into pharmacies and health food stores in the country. It also includes an option for expansion across Europe and into the US.
The launch is expected in September 2022 wth Medlab to receive ex-factory royalty arrangements quarterly.
Cultech is a specialised probiotic company that has its own branded line of products.
Under the agreement terms, NRGBiotic will continue to be manufactured by Cultech exclusively for its PRO-VEN range and its UK distribution channels.
Medlab CEO Dr Sean Hall 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."
