Medlab continues the offshore expansion of its nutraceuticals business with a UK partner following its US initiative announced in October.
() has executed a distribution agreement with nutritional supplement manufacturer Cultech Ltd that will see the company expand its nutraceutical business into the UK.
This exclusive distribution agreement follows the recent execution of a definitive agreement to expand Medlab's nutraceutical business in the USA.
Similar to the previous US deal, the UK agreement provides minimal operating expenditure exposure for Medlab and provides for 20% royalties ex-factory under the transfer agreement.
This agreement focuses on two unique Medlab products:
ORSBiotic™: Part of the existing Medlab Australian and US nutraceutical ranges, a patented probiotic rehydration formulation. NanoCBD™: A new cannabinoid product utilising Magnesium and CBD from the newly manufactured NanoCBD™ product - the product utilises Medlab’s patented delivery platform, NanoCelle™.Both products are expected to be online within the next three months.
“Uniquely placed to expand trade”
The company's chief executive officer Sean Hall said: “Our IP has commercial reality and whilst we have medical and scientific validation, the real-world validation is the commercial opportunities.
“Medlab remains true to its IPO promise of finding good partners to provide longevity in commercial relationships.
“Regarding Cultech, I have worked with them for well over a decade and they are uniquely placed to expand trade into territories beyond the United Kingdom.”
Premium quality manufacturer
Established in 1994, Cultech has become internationally recognised as both an innovator and premium quality manufacturer within the nutritional supplement industry.
The powerful combination of research scientists together with formulation, process and production technologies enables Cultech to provide a fully integrative manufacturing service, involving unique formulations, innovative presentation and high-quality finished products.
