Medlab Clinical Ltd (ASX:MDC) has executed a distribution agreement with nutritional supplement manufacturer Cultech Ltd that will see the company expand its nutraceutical business into the UK.
This exclusive distribution agreement follows the recent execution of a definitive agreement to expand Medlab's nutraceutical business in the USA.
Similar to the previous US deal, the UK agreement provides minimal operating expenditure exposure for Medlab and provides for 20% royalties ex-factory under the transfer agreement.
This agreement focuses on two unique Medlab products:
- ORSBiotic
: Part of the existing Medlab Australian and US nutraceutical ranges, a patented probiotic rehydration formulation. - NanoCBD: A new cannabinoid product utilising Magnesium and CBD from the newly manufactured NanoCBD product – the product utilises Medlabs patented delivery platform, NanoCelle.
Both products are expected to be online within the next three months.
“Uniquely placed to expand trade”
The company's chief executive officer Sean Hall said: “Our IP has commercial reality and whilst we have medical and scientific validation, the real-world validation is the commercial opportunities.
“Medlab remains true to its IPO promise of finding good partners to provide longevity in commercial relationships.
“Regarding Cultech, I have worked with them for well over a decade and they are uniquely placed toRead More – Source
