STOCKHOLM, July 2, 2019 /PRNewswire/ -- Nanologica enters into an agreement with Chinese Yunbo Technology (Beijing) Co. for the delivery of preparative chromatography media to a value of approximately MUSD 14. With the agreement as foundation, Nanologica starts large scale production of silica at the contract manufacturer Sterling Pharma Solutions Ltd.
The agreement between Nanologica and Yunbo Technology (Beijing) Co. stretches over six years (2021-2026) and means that Nanologica shall deliver media for preparative chromatography to a value of approximately MUSD 14. The first delivery will be made during 2020 after which the deliveries will increase gradually until 2026. Thereby, Yunbo becomes the exclusive distributor for Nanologica's analytical as well as preparative chromatography products in China.
With the agreement as foundation, Nanologica starts large scale production of silica at the contract manufacturer Sterling Pharma Solutions Ltd. in Newcastle, UK. The technology transfer for the up-scaling process has been in progress for a while, and the production is expected to start shortly with delivery of media for sampling during 2020 and the first commercial during 2021.
Investments in equipment needed for the scaling up of production, are financed by an advance payment from Yunbo Technology (Beijing) Co. as well as loans and credit lines from bank and private lenders.
"Signing a long-term agreement with Yunbo and starting the production of our silica at large scale is an important milestone that transforms our business. We have worked for this for a long time and it is pleasing to both having signed a customer agreement as well as having secured the financing of the investments needed. We now truly embark on our journey within preparative chromatography, a field we believe will generate considerable profit for the company in a few years' time" says Andreas Bhagwani, CEO of Nanologica.
"This agreement creates substantial new business opportunities for us as we are now able to meet the demands of preparative chromatography media on the Chinese market, and we can now offer preparative as well analytical products to our customers" says Cheng Liu, CEO of Yunbo Technology (Beijing) Co.
Nanologica intends to engage further customers within this field, a process that is facilitated by the start of large-scale manufacturing and being able to provide larger samples to customers for testing.
About Nanologica AB (publ)
Nanologica was founded in 2004 and is a nanotechnology company developing nanoporous silica particles for applications within life science. Nanologica is world-leading in controlling the shape, size and type of porosity of silica particles. This knowledge is applied within drug delivery and chromatography (a separation technique used in drug development and drug production). The company's mission is to contribute to better and cheaper treatments for patients worldwide through the technology platform NLAB Silica(TM). Nanologica's stock (NICA) is listed on Spotlight Stock Market. For further information, please visit www.nanologica.com.
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