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NeuroVive enters commercial partnership with Oroboros Instruments on mitochondrial medicine research compounds
NeuroVive Pharmaceutical AB (Nasdaq Stockholm: NVP, OTCQX: NEVPF) today announced that the company has entered into an exclusive agreement to license and supply two of its first generation of succinate/malonate prodrugs as research tool compounds to Oroboros Instruments, a global supplier of mitochondrial research technologies.
NeuroVive have agreed to provide, at scale, two research compounds, originating from its NVP015 program, on an exclusive basis to Oroboros. Depending on bulk quantities supplied, the agreement has the potential to generate revenue to NeuroVive in the range of €10,000-50,000 per annum. Oroboros will commercialize and distribute the compounds after completed internal evaluation. Oroboros Instruments are world leading in the development and supply of analytical instrumentation and reagents for use in mitochondrial biology and mitochondrial medicine research and development.
Eskil Elmér, CSO NeuroVive commented “We are excited to be able to supply compounds from our succinate prodrug family designated exclusively for research use to the scientific community. Oroboros Instruments is the perfect partner to reach thousands of scientists in the field. These cell-permeable compounds, that can stimulate and inhibit Complex II of the respiratory electron transfer system in intact cells, will expand the toolbox for evaluating the role of mitochondria in disease. NeuroVive revenues will be modest but the primary value is that this is part of our mission to promote the development of mitochondrial medicine research.”
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