17th Mar 2016 09:29
LONDON (Alliance News) - Life sciences company OptiBiotix Health PLC on Thursday said it has signed a deal to secure the exclusive rights to intellectual property developed by the University of Manchester in skin health.
The pair have created a joint venture, called SkinBiotix Ltd, which will be 52%-owned by OptiBiotix. The AIM-listed firm has invested GBP260,000 into the joint venture.
"We are pleased to announce this joint venture and acquisition of skin health intellectual property from the University of Manchester. We believe this deal accelerates OptiBiotix's strategic intent to grow the company by extending our platform technologies into new application areas where there is a large global need," said OptiBiotix Chief Executive Stephen O'Hara.
OptiBiotix shares were down 0.7% at 73.50 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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