Apollo signs $500,000 deal with Symansis
Wednesday, 11 June, 2008
Suspended Sydney biotech Apollo Life Sciences (ASX: AOP) has sold a proportion of its non-core assets to New Zealand antibody specialist Symansis for $500,000.
The parties have also signed a short-term supply contract.
The deal also allows Symansis to license some of Apollo's proprietary techniques to assist in the manufacture of proteins for sale as research reagents.
The parties have also entered into a supply contract, whereby Apollo has also agreed to manufacture and supply specified proteins to Symansis.
In a statement, Apollo's CEO John Priest said the company is currently consolidating its operations and intends to focus on its core research activities, including its oral and transdermal delivery sytems and its portfolio of human-expressed proteins.
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