- Creso Pharma (CPH) executes a letter of intent (LOI) with Providence Animal Health Korea to bring its anibidiol product suite to the South Korean market
- The partnership will work towards the registration, importation and commercialisation of selected CPH products
- Seoul-based Providence Animal Health is a leading provider of pet food and animal health products, with established relationships in South Korea’s animal health market
- The LOI is non-binding, non-exclusive and intended to run until it is replaced by a commercialisation agreement
- Shares are trading five per cent higher at 4.2 cents each at 11:29 am AEST
Creso Pharma (CPH) has executed a letter of intent (LOI) with Providence Animal Health Korea to bring its anibidiol product suite to the South Korean market.
The partnership will work towards the registration, importation and commercialisation of selected CPH products.
Seoul-based Providence Animal Health is a leading provider of pet food and animal health products, with established relationships in South Korea’s animal health market.
The LOI is non-binding, non-exclusive and intended to run until it is replaced by a commercialisation agreement.
Following the successful execution of this agreement and registration, commercialisation is expected to commence early next year.
Creso Pharma Managing Director and CEO William Lay said he is excited for further international expansion.
“Korea is of strategic importance to Creso Pharma, as the country provides another lucrative potential market and may allow the company to further expand into the Asia-Pacific region,” he said.
“It has a very strong signalling effect to other Asian countries due to its well-established academics and University network contributing to the health sciences in animal health.”
Shares were trading five per cent higher at 4.2 cents each at 11:29 am AEST.