Cyclopharm (ASX:CYC), has joined forces with Cyclotek and PETTECH Solutions in an effort to advance the Australian molecular imaging sector.
The group of companies are hoping a collaboration with Macquarie University will improve their market share. .
With shared interests in Radiopharmaceuticals, the collective aims to manufacture new Positron Emission Tomography (PET) diagnostics, otherwise not produced in NSW.
The collaboration hopes to increase patient and clinician access through the initiative and provide better outcomes for the community.
Shares in Cyclopharm previously traded flat at $0.73.