Algorae Signs Non-Binding Umedica MOU for Eight Australian Molecules [VIDEO]
Algorae's Umedica Australian licence agreement pairs a non-binding eight-molecule MOU with a binding Licence & Supply Agreement, and a dossier is already sitting with the TGA.
Key Takeaways
- AlgoraeRx has signed a non-binding MOU appointing it Umedica's exclusive Australian importer, distributor and commercial partner across eight molecules.
- A separate, binding Licence & Supply Agreement has a product dossier already submitted to the TGA, with AlgoraeRx to hold the marketing authorisation and sell under its own brand.
- Financial terms of the LSA are commercial-in-confidence, so no deal value has been disclosed.
- Umedica's API and finished-product plants are approved by the FDA, EU, UK, TGA and Health Canada, giving AlgoraeRx a heavily accredited supply partner.
- The TGA outcome, definitive MOU agreements and further molecules under evaluation are the next catalysts, though no timelines were given.
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