–News Direct–
Willow Bioscience CEO Dr Chris Savile joined Steve Darling from Proactive to share the company's plans to raise approximately $3 million. This capital will be used to support Willow Bioscience's recent partnership announcement with Laurus Labs.
Dr. Savile explained that the deal with Laurus is a multi-product development and licensing partnership with a leading research-driven pharmaceutical and biotechnology company. Laurus Labs, with a market cap of $3.9 billion, serves global pharmaceutical companies and offers Contract Development and Manufacturing Organization (CDMO) services. Since its inception, Laurus has commercialized over 80 products and operates nine manufacturing facilities, including those with fermentation capabilities.
Willow Bioscience aims to leverage its AI-driven technology platform and extensive expertise in enzyme, strain, and process engineering to develop biobased processes for high-value Active Pharmaceutical Ingredients (APIs). This includes Willows BioOxi-based corticosteroid processes, intended for large-scale manufacturing, sales, and distribution at Laurus Labs. The first programs from this partnership are expected to reach commercial manufacturing by 2025.
The planned fundraising will provide the necessary capital to advance these initiatives, ensuring that Willow Bioscience can effectively collaborate with Laurus Labs to bring innovative biobased pharmaceutical solutions to the market.
Contact Details
Proactive Investors
+1 604-688-8158
na-editorial@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/willow-bioscience-announces-3-million-dollar-fundraising-to-support-partnership-with-laurus-labs-489522777
Willow Biosciences Inc.
COMTEX_453491398/2655/2024-06-07T12:32:47
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