Cytophage Enters Letter Of Intent With Major Singapore-Based Agrifood Company
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Cytophage Technologies (TSXV: CYTO) is focusing its efforts on expanding the commercialization of its phage products within the Asian poultry market. The firm yesterday revealed it has entered into a letter of intent with a leading poultry-focused agrifood company.
The letter of intent is said to outline a “collaboration pathway” for the two entities, with Cytophage expecting trials to begin in the fourth quarter with the commercial partner for use of its phage products. While the partner is undisclosed, they are said to be Singapore-based, while operating from six countries in the Pan-Asian region, with 80% of their multi-billion annual revenues derived from its poultry operations.
Dr Steven Theriault, CEO of Cytophage, commented on the transaction, “Fully integrated poultry producers provide multifaceted opportunities for phage products – from eggs to feed to the chickens – creating an exciting environment in which to have our phage products improve production numbers by decreasing bacterial loads.”
READ: Cytophage Adds 30-Year Biotech Exec To Its Board
Further details on the arrangement, including potential financial terms, were not provided.
Elsewhere in the region, Cytophage is said to have introduced a new form of one of its phage products after a collaboration with its distribution partner in Bangladesh. The traditional liquid offering has been replaced a new lyophilized tablet, which is expected to increase both shelf life and product reliability in tropical regions. The change is expected to maximize product adoption within the area.
Cytophage Technologies last traded at $0.39 on the TSX Venture.
FULL DISCLOSURE: Cytophage Technologies is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cytophage Technologies. The author has been compensated to cover Cytophage Technologies on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
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