Pharmaust (ASX:PAA)
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From May 2019 to May 2024
Commonwealth Biotechnologies, Inc. (NASDAQ: CBTE) and
PharmAust, Ltd (ASX: PAA), an Australia-based biotech services company
have signed a Strategic Alliance and Client Referral Agreement to
co-market their services to the life sciences industry. The agreement
will provide for ready access of customers to the largely
complementary combined capabilities of the two organizations, and
enable better overall solutions to be developed on the demanding
timescales required by clients in the life sciences Industry. The
extended geographic reach brought about by this partnership will offer
a new solution for multinational companies with global service
requirements.
"This is one of those true win-win relationships where each
company stands to benefit enormously from the added technology
offerings and extended global reach. In particular, CBI will now have
access to the large and rapidly growing market in the Pacific Rim
while PharmAust will be able to offer its drug discovery services in
medicinal chemistry and peptide technologies to the CBI's large client
base," said Richard J. Freer, Chairman & COO of CBI. "Access to
PharmAust's direct sales force is also a real bonus. They are highly
seasoned and, more importantly, are well versed in selling services
such as those offered by CBI," he added.
PharmAust Managing Director, Dr. Paul D'Sylva said, "This alliance
is in line with PharmAust's strategy to work with high quality
partners to enhance the range and depth of our product and service
offerings to the global drug discovery industry. "
"The integration and co-marketing of PharmAust and CBI's
pre-clinical capabilities offers the industry a single-point of
service for early stage drug discovery and development. This agreement
represents an important first step in what PharmAust considers to be a
strategically important relationship going forward," Dr. D'Sylva said.
Commonwealth Biotechnologies, Inc. is a solutions provider to the
global biotechnology industry, academic institutions, government
agencies, and pharmaceutical companies. It offers broad ranging
expertise and a complete array of the most current analytical and
synthetic chemistries and biophysical analysis technologies, many of
which are not available from other commercial sources. CBI has crafted
a stimulating, open environment where scientists collaborate among
themselves and with our clients, take on interesting challenges and
develop creative solutions. Through its FIL division, CBI offers
comprehensive genetic identity testing, including paternity, forensic,
and CODIS analyses. CBI is accredited by the American Association of
Blood Banks, CLIA, and the National Forensic Science Technology
Council, and operates fully accredited BSL-3 laboratory.
About PharmAust Ltd
PharmAust Limited is a vertically integrated pharmaceutical group
of companies involved in a range of activities from contract drug
discovery and development to manufacturing, sales and marketing of
healthcare & pharmaceutical products. PharmAust wholly owns three
operating subsidiary companies:
-- PharmAust Manufacturing Pty Ltd manufactures and markets
therapeutic and non-therapeutic pharmaceutical products for
Australian and overseas markets.
-- Epichem Pty Ltd provides contract chemistry services alongside
its own intellectual property generating research activities.
-- Mimotopes Pty Ltd provides products and services in discovery
chemistry to the global pharmaceutical and biotechnology
industries.
Founded in 1992, CBI is located in Gateway Centre, Chesterfield
County at 601 Biotech Drive, 23235 (1-800-735-9224). For more
information, visit CBI on the web at www.cbi-biotech.com and visit FIL
at www.fairfaxidlab.com.
PharmAust is based in Perth, Western Australia. Please visit
PharmAust on the web at www.pharmaust.com.au
No statement made in this press release should be interpreted as
an offer to purchase any security. Such an offer can only be made in
accordance with the Securities Act of 1933, as amended, and applicable
state securities laws. Any statements contained in this release that
relate to future plans, events or performance are forward-looking
statements that involve risks and uncertainties as identified in CBI's
filings with the Securities and Exchange Commission. Actual results,
events or performance may differ materially. Readers are cautioned not
to place undo reliance on these forward-looking statements, which
speak only as the date hereof. Specifically, CBI cannot guarantee that
the agreement executed with PharmAust will produce any revenues or new
business prospects. CBI undertakes no obligation to publicly release
the results of any revisions to these forward-looking statements that
may be made to reflect the events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.