Biome Australia (ASX:BIO) signed a co-investment agreement with Australia's Food and Beverage Accelerator for a jointly funded intellectual property development program for the company's BMB18 probiotic strain, according to a Wednesday filing with the Australian bourse.
Results of the company's initial in vitro studies on BMB18 showed the strain's functional potential in modulating immune responses, reducing inflammation, reducing oxidative stress, and maintaining intestinal barrier integrity, the filing said.
The agreement is backed by a AU$50 million grant awarded to the Food and Beverage Accelerator under the Australian Government Department of Education Trailblazer Program, per the filing.
Biome Australia shares rose nearly 5% in morning trade Wednesday.
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