- Specialist pharmaceutical formulation company, Formulytica Pty Ltd, and commercialisation and development company, Biointelect announce a strategic partnership.
- The Formulytica-Biointelect partnership brings together experienced specialist teams to drive development and commercialization of Australian medical research products.
- Opal Biosciences current capital raising will support the growth of Formulytica to meet the increased demand for its specialist services.
Melbourne, 7 Jun 2021: Opal Biosciences Ltd is pleased to announce the strategic partnership between Formulytica Pty Ltd and Biointelect Pty Ltd combining Formulytica’s specialised pharmaceutical product development expertise and Biointelect’s industry-leading strategic commercialisation planning and therapeutic development services for the life sciences ecosystem.
The growth in Australian onshore medical research, product development and commercialisation focus and the availability of more funding for this important area, has highlighted the need for technical expertise and networks of capabilities to ensure cost-effective and successful development of new products to market.
The Formulytica-Biointelect partnership brings together internationally recognised and experienced specialist teams to facilitate the progress of products from Australian medical research through to product candidates suitable for clinical trials and to market.
The opportunity to facilitate the progress of products and deliver on innovative and new intellectual property with these product candidates adds value to Australian R&D and product candidates, highly valuable in the biotech/pharma ecosystem.
“Partnering with Biointelect through our merger with Opal Biosciences will expand our product development reach to build the next generation of pharmaceutical products for our clients”, said Formulytica’s Managing Director, Dr Richard Buchta.
Biointelect operates across the entire product development pathway from early-stage preclinical through to the in-market phase and Formulytica’s deep technical expertise is quite complementary to Biointelect’s mission of bringing science to market.
“The ability to access the depth of topical and injectable and nasal formulation and drug delivery system expertise in Formulytica fits perfectly into Biointelect’s service provision model of providing deep technical expertise informing our clients’ path to market strategies. Such capability is hard to come by and Formulytica’s expertise, especially in aerosol foams and nanoparticle formulations, is world-class” said Biointelect’s Founder and Managing Director, Jenny Herz.
Julie Phillips, Managing Director of Opal Biosciences said, “We are pleased that these two companies of excellence will seek opportunities to work together for the benefit of their clients. Opal’s acquisition of Formulytica was announced last month and is the subject of our current capital raising. Growth from such valuable collaborations will enhance development of Australia’s world-class medical research.” For more information see www.opalbiosciences.com.
About Opal Biosciences Ltd
Opal Biosciences Limited (“Opal”) is transforming from a preclinical stage biotechnology company to a revenue-generating pharmaceutical development business through its acquisition of Formulytica Pty Ltd (“FLT”). FLT specialises in developing formulations of pharmaceutical products for application to the skin, eyes, etc and also injectables. FLT generates revenue from its fee-for-service business and also from royalties from licences to its innovative technology.
Opal’s new business will support overseas and local biotechnology and pharmaceutical companies wishing to conduct clinical trials in Australia and formulate product for clinical and nonclinical studies. The new business will target the significant opportunity for preparation of clinical trial supplies (i.e. the drug material designed to administer to patients in clinical trials to test new medicines).
Opal plans to grow FLT’s existing business to fill a growing manufacturing need in the Australian pharmaceutical market. The expertise of FLT’s scientists combined with Opal’s commercial expertise will promote the revenue growth of the merged business.
Opal’s proposed acquisition of FLT represents a unique opportunity to grow a new, merged business designed to meet the significantly increased requirement for onshore manufacturing in Australia. This need has become increasingly evident with the COVID-19 pandemic.