Global JV formed to fight superbugs
PDX in Huntingdon near Cambridge and UK partner Biomimetics Health Industries have formed a joint venture designed to zap superbugs.
The 50-50 JV will exploit the patented IP of both companies to create best-in-class disinfection and decontamination solutions using PDX's atomisation technology and Biomimetics' chemistry.
The core areas of focus are healthcare, environmental and animal health disinfection and crop protection.
Biomimetics specialises in the research, development and manufacture of unique 'nature replicating' chemical products that naturally kill all known contagious pathogens such as MRSA, C.difficile, M.tuberculosis, E.coli, Legionella bacteria and human and animal influenzas.
Its products already have European regulatory approvals and are in the process of seeking similar approvals in the US. The company recently completed a licensing deal with a major global pharma business to address human health and wound applications outside the Americas.
The expectation is that integrated solutions utilising both companies' IP will be licensed to third parties with sufficient brand and marketing infrastructure to achieve significant market penetration.
The partners expect that the JV will receive from licensees an upfront payment, a percentage of total sales and that a required minimum sales/hurdle rate will be agreed.
CEO of Biomimetics, Chris Mallet, said: “We are being courted by many global organisations all seeking to employ our unique technology and chemistries. Teaming up with PDX provides the ideal vehicle to provide licensees across the board with a total solution for best in class disinfection and decontamination, as well as addressing animal healthcare and crop protection on a massive scale.”
Roel Pieper, the CEO of PDX, added:“The global disinfection and decontamination market offers huge potential that PDX and Biomimetics are superbly well placed to exploit.
“Following on from our joint venture agreements with Kaercher and the UK's National Nuclear Laboratories, this is a further example of PDX teaming up with a market leader to produce innovative solutions to what is an already large and fast growing market.”