iX Biopharma to Establish JV Firm; Shares Surge 9%

MT Newswires

Nov 10

iX Biopharma (SGX:42C) entered into a term sheet with Orion Specialty Labs to establish a joint venture to manufacture and commercialize pharmaceutical and supplement products in the US, according to a Monday filing with the Singapore Exchange.

iX will have a 75% stake in the JV company and will utilize its WaferiX(r) sublingual drug delivery technology to develop the products.

Meanwhile, Orion will fund new manufacturing equipment and operating capital.

Shares of the company surged over 9% in Monday trading.

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