Willow Biosciences Inc. (“Willow” or the “Company“) (TSX: WLLW) (OTCQB: CANSF), a leading biotechnology company focused on revolutionizing industrial manufacturing of pure, consistent, and sustainable functional ingredients, announces that it has partnered a high value ingredient from its internal portfolio with a global ingredient manufacturer to fully develop, scale, and commercialize.
Through this partnership, Willow expects to receive payments for research and development (“R&D”) followed by a tiered profit share for 15 years after launch, if successful. The research program is expected to take 12 months to complete, with near-term payments for R&D to Willow of up to $1.3 million, should certain performance targets be met through development. The partner will be responsible for regulatory, manufacturing, and sales and marketing costs. The ingredient resulting from this collaboration will allow the partner to pursue commercialization in a $1 billion global segment that is currently dominated by a chemically synthesized product. Utilizing its fully integrated technology platform and strains previously developed, Willow and its partner are working to develop a high purity, sustainably produced natural ingredient that is bio-identical to that found in nature yet expected to be lower cost than chemically synthesized product.
“We are pleased to partner this ingredient that started as an internal program, with a global partner with commercial-scale manufacturing expertise and market access”, said Dr. Chris Savile, Willow’s President and Chief Executive Officer. “This partnership further validates our ability to select and develop products within large existing markets that can be improved with biomanufacturing, execute on the required science, and secure the appropriate commercialization partner.”
