23rd Aug 2023 11:37
(Alliance News) - Graft Polymer (UK) PLC on Wednesday said that it has signed a manufacturing service agreement with an unnamed "prominent partner" in the Israeli pharma market.
Graft Polymer is a London-based company focused on the development and production of polymer modification, biological supplements, and nano-drug delivery systems. Its shares were up 28% at 2.81 pence each in London on Wednesday morning.
Under the terms of the agreement, Graft Polymer will provide manufacturing services from its GraftBio production facility in Slovenia, which is now fully operational. It has agreed to produce its patented haemostatic powder following a recent, successful pilot scheme.
According to Graft Polymer, the customer has a product which, in order to manufacture properly, requires a "deep-seated understanding of and experience with polymers". Graft Polymer said it would work to enhance this product in due course, leveraging its self-nanoemulsifying drug delivery system technology.
"This represents a significant opportunity for the company's Graft Bio division, and evidence of our strong innovation capabilities in producing medical device products for the pharma industry," said Chief Executive Officer Victor Bolduev.
By Holly Beveridge, Alliance News reporter
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