Invion (ASX:IVX) secures services agreement with Pavay Biotech

Company News

by Katrina Bullock

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Last Updated: 24/02/2020 3:51 PM

A subsidiary of Invion (ASX:IVX), EpiTech Dermal Science, has signed an R&D services agreement with a leading China-based pharmaceutical group in the skin repair and treatment market.

Under the agreement, EpiTech will be paid an upfront fee of $250,000 plus ongoing R&D services fees to manage the research, development and production specifications for the supply of dermatological ingredients.

The ingredients will be used in the formulation of dermatology products to be manufactured by Pavay Biotech.

The parties are still negotiating the manufacturing and supply agreement.

Shares in Invion (ASX:IVX) closed flat at 1.2 cents on Friday.

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.