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PEPTECH ENTERS INTO JV TO DEVELOP BIOTECH PRODUCTS.
SYDNEY, Dec 1 Asia Pulse - Four new products are to be developed by biotech Peptech Ltd (ASX:PTD), in a new joint venture with fellow biotech Biosceptre International Ltd.
Peptech said four distinct products had been identified for development by the joint venture, two with diagnostic applications to confirm the presence of cancer and two with therapeutic applications.
Both companies will share equally in commercialisation benefits of all products.
Peptech executive chairman Mel Bridges said Peptech would be responsible for the development of a diagnostic and therapeutic application, while Biosceptre would develop the other two applications.
Peptech paid $3.5 million to Biosceptre to obtain the exclusive licence for the intellectual property for the two products that it will develop.
In return, Biosceptre used the money to buy 2.3 million shares in Peptech at ...
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Source: HighBeam Research, PEPTECH ENTERS INTO JV TO DEVELOP BIOTECH PRODUCTS.