Australia

Medlab Clinical executes exclusive distribution agreement to expand into the UK

Medlab Clinical Ltd (ASX:MDC) has executed a distribution agreement with nutritional supplement manufacturer Cultech Ltd that will see the company expand its nutraceutical business into the UK.

This exclusive distribution agreement follows the recent execution of a definitive agreement to expand Medlab's nutraceutical business in the USA.

Similar to the previous US deal, the UK agreement provides minimal operating expenditure exposure for Medlab and provides for 20% royalties ex-factory under the transfer agreement.

This agreement focuses on two unique Medlab products:

  • ORSBiotic™: Part of the existing Medlab Australian and US nutraceutical ranges, a patented probiotic rehydration formulation.
  • NanoCBD™: A new cannabinoid product utilising Magnesium and CBD from the newly manufactured NanoCBD™ product – the product utilises Medlabs patented delivery platform, NanoCelle™.

Both products are expected to be online within the next three months.

“Uniquely placed to expand trade”

The company's chief executive officer Sean Hall said: “Our IP has commercial reality and whilst we have medical and scientific validation, the real-world validation is the commercial opportunities.

“Medlab remains true to its IPO promise of finding good partners to provide longevity in commercial relationships.

“Regarding Cultech, I have worked with them for well over a decade and they are uniquely placed toRead More – Source