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Enzymotec teams with Daiichi Sankyo

6 May, 2010 16:30
שלח תגובה במיילShiri Habib-Valdhorn

The companies will distribute an Enzymotec cholesterol treatment in Brazil.

Israeli biotech company Enzymotec Ltd., a developer of active pharmaceutical ingredients for nutritional supplements, has signed a major strategic agreement with Daiichi Sankyo Brazil, a subsidiary of Japanese pharmaceutical company Daiichi Sankyo Co. Ltd. (TSE: 4568).

Enzymotec and Daiichi Sankyo Brazil will launch Enzymotec's product for the reduction of cholesterol and triglycerides, which Daiichi Sankyo Brazil will market. Daiichi Sankyo Brazil focuses on cardiology and hypertension treatments. Market sources estimate the deal at $20 million.

Enzymotec CEO Dr. Ariel Katz said, "We are very proud to launch the product in Brazil in collaboration with a leading drug company like Daiichi Sankyo, which will implement our vision of providing effective solutions based on natural ingredients that are safer for use." He added that the deal was an important foothold in the Latin American market.

Enzymotec is a private company with offices in Migdal Ha'Emek and Morristown, New Jersey. "Globes" included the company in its "Most Promising Start-Ups" of 2007-08. The company was founded by Dr. Basheer Sobhi. Shareholders include Galam Ltd. of Kibbutz Maanit, Ofer Hi Tech Ltd., Millennium Material Technologies Fund, and Mexico's Arancia Industrial SA de CV. The company was founded at Ofer Hi-Tech's Naiot Venture Accelerator in Nazareth.

Enzymotec also has a cooperation agreement with India's Elder Pharmaceuticals Ltd. (BSE: 532322), which is estimated to be worth millions of dollars.

Published by Globes [online], Israel business news - www.globes-online.com - on May 6, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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