Biotechnology company Starpharma (ASX:SPL)
has signed an agreement for distribution of the VIRALEZE antiviral nasal spray in Vietnam. The agreement is with Australian-based Healthco Australia Pty Ltd, Vietnam-based Truong Bao Land (TBL), and Nam Thanh Trade and Medical Services Company Limited (NTM).
The deal incorporates a minimum commitment of 1 million units of VIRALEZE in the first year. The agreement has an initial five-year term with provision for extensions. Starpharma will supply VIRALEZE, while TBL and NTM are responsible for sales, distribution and marketing.
Dr Jackie Fairley, Starpharma CEO, comments: “We are delighted to see our partners launch VIRALEZE in Vietnam so rapidly, particularly given the current Delta outbreak across the country.”
VIRALEZE is a broad-spectrum antiviral nasal spray. The antiviral agent in VIRALEZE, referred to as SPL7013, has been shown to have potent antiviral and virucidal activity in multiple respiratory viruses and multiple variants of SARS-CoV-2, including inactivation of >99.9% of the highly infectious Delta variant, in laboratory studies.
Shares in Starpharma (ASX:SPL)
are trading 3.9 per cent higher at $1.22.