ArcticZymes signs new supply agreement for enzyme, Cod UNG

(Tromsø 13. December 2018) Biotec Pharmacon’s (OSE: Biotec) subsidiary ArcticZymes has signed a supply agreement with a major Japanese company for its product Cod UNG.

ArcticZymes AS, a leader in the development and commercialization of enzymes applied to molecular diagnostics, gene therapy, and protein purification, announces a new dual track supply agreement for its specialized enzyme, Cod UNG. 

ArticZymes’ Japanese customer intends to develop and manufacture molecular biology assay products containing Cod UNG for the research market and molecular diagnostic kits. In addition, the company has agreed to channel ArticZymes’ enzyme as a stand-alone product to its own existing customers, with specific focus on the Chinese market where it has identified a need. 

Biotec Pharmacon anticipates the deal to be worth approximately 1 million NOK of revenue in 2019 with a potential recurring revenue stream of 1–3 million NOK each subsequent year.

ArcticZymes Managing Director Jethro Holter said:

“The quality of our customer and the dual structure of the deal is great validation of our Cod UNG enzyme. By having two different channels through which to sell it – via molecular biology assay kits and via direct sales – this is an ideal position to be in.”

Christian Jørgensen, CEO, added:

“Today’s deal is a good demonstration of how our new commercialisation team is operating, as reported in the Q3 results. This is a competitive market to operate in, which is why we are proud of our portfolio of top quality, specialized enzyme products which are in demand from our customers and their customers. We look forward to further growing our pipeline of products and deals in the near year.”