- Biotech company Medlab Clinical (MDC) signs a three-year deal with Cultech for its patented formula, NRGBiotic
- NRGBiotic is a formula made up of a combination of specific probiotics and magnesium orotate and is used as a treatment for major depression
- Under the deal, NRGBiotic will continue to be manufactured by Cultech exclusively for its PRO-VEN range and its UK distribution channels
- Shares in Medlab are up 13.4 per cent on market close, trading at 11 cents
Australian biotech company Medlab Clinical (MDC) has signed a three-year deal with Cultech for its patented formula, NRGBiotic.
NRGBiotic is a formula made up of a combination of specific probiotics and magnesium orotate and is used as a treatment for major depression.
It was developed, researched and patented by Medlab and is manufactured in the United Kingdom by Cultech for worldwide use.
Founded in 1994 in Wales, Cultech is an innovator and manufacturer within the nutritional supplement industry.
Under the deal, NRGBiotic will continue to be manufactured by Cultech exclusively for its PRO-VEN range and its UK distribution channels.
“This marks our first global nutraceutical deal since the divestment of the Australia only
licence to PharmaCare, and secondly, we know Cultech very well, as we have worked with them on several products, inclusive of NRGBiotic for over a decade,” CEO Dr Sean Hall said.
“Cultech are considered global leaders and experts in their field, we are really happy the NRGBiotic is now part of their branded lines.”
On market close, shares in Medlab were up 13.4 per cent on the market and were trading at 11 cents.