Vitrafy Life Sciences Enters 12-Month Deal With French Company; Shares Up 32%

MT Newswires Live

01/15

Vitrafy Life Sciences (ASX:VFY) entered a 12-month agreement with French company IMV Technologies to co-develop a cryopreservation offering for farm animals and aquaculture, according to a Thursday filing with the Australian bourse.

The company will earn a monthly fee of up to AU$480,000 for the duration of the agreement and may also receive milestone payments of AU$450,000 for meeting pre-determined milestones, the filing said.

The parties can extend the deal for a further six months, per the filing.

Vitrafy Life Sciences shares rose 32% in afternoon trade on Thursday.

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