Medical Developments International signs CSIRO deal

Company News

by Jessica Ellerm


Medical Developments International Limited (ASX:MVP) has announced it has signed a deal with the CSIRO to conduct a R&D program into new manufacturing technologies for pharmaceutical products.

The government body has previously worked with Medical Developments to bring its Penthrox drug to market.

MVP CEO John Sharman has indicated knowledge gained from the manufacturing advances made with Penthrox will be used to create patent worthy IP which will be owned by the business.

CSIRO stands to generate royalty revenue through its partnership with MVP.

Medical Developments International Limited posted a net profit of $1.57million at 30 June 2016.

 

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.