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Living Cell Technologies ( (AU:1AI) ) has shared an update.
Algorae Pharmaceuticals has entered into a binding term sheet with Cadila Pharmaceuticals to launch two generic medicines in the Australian and New Zealand markets, focusing on cardiovascular and metabolic disorders. This strategic partnership aims to expand Algorae’s commercial footprint and product portfolio through collaboration with Cadila, a major Indian pharmaceutical company. The partnership will formalize through a definitive License and Supply Agreement, after which Algorae will begin planning for Therapeutic Goods Administration registration, impacting its operations and potentially enhancing its industry position.
More about Living Cell Technologies
Algorae Pharmaceuticals is an AI-enabled pharmaceutical development company focused on discovering and developing drug synergies for unmet medical needs. Utilizing its proprietary AI platform, AlgoraeOS, the company applies machine learning and deep neural networks to identify transformative therapeutic drug combinations. Algorae collaborates with research institutions and pharmaceutical partners to accelerate the clinical translation of AI-predicted therapies and is publicly traded on the Australian Stock Exchange.
YTD Price Performance: 10.0%
Average Trading Volume: 3,512,209
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$18.56M
See more insights into 1AI stock on TipRanks’ Stock Analysis page.