WILLOW ANNOUNCES COMMERCIAL LICENSE AND ROYALTY AGREEMENT WITH KALSEC INC.
Willow Biosciences Inc. (TSX: WLLW; OTCQB: CANSF) has signed a commercial license and royalty agreement with Kalsec, Inc., a leading global producer of natural ingredients for the food and beverage industry. The agreement covers the use of Willow's technology for scaling and manufacturing a natural ingredient for savory food applications. Willow anticipates receiving milestone payments for the first pilot and industrial batches, followed by tiered royalty payments on net worldwide sales after launch.
The collaboration targets an existing $200M global market segment. Willow expects the research and development phase to be completed in 2024, with regulatory and scale-up work continuing into 2025. This agreement marks another successful transition of Willow's research program to commercial reality, highlighting the company's commitment to delivering safer and more sustainable natural products to consumers.
Willow Biosciences Inc. (TSX: WLLW; OTCQB: CANSF) ha firmato un accordo di licenza commerciale e royalties con Kalsec, Inc., un produttore globale leader di ingredienti naturali per l'industria alimentare e delle bevande. L'accordo riguarda l'utilizzo della tecnologia di Willow per la scalabilità e la produzione di un ingrediente naturale per applicazioni alimentari salate. Willow prevede di ricevere pagamenti per traguardi per i primi lotti pilota e industriali, seguiti da pagamenti di royalties a scaglione sulle vendite nette mondiali dopo il lancio.
La collaborazione mira a un segmento di mercato globale esistente dal valore di 200 milioni di dollari. Willow si aspetta che la fase di ricerca e sviluppo venga completata nel 2024, con lavori normativi e di scalabilità che continueranno nel 2025. Questo accordo segna un'altra transizione di successo del programma di ricerca di Willow verso la realtà commerciale, evidenziando l'impegno dell'azienda a fornire prodotti naturali più sicuri e sostenibili ai consumatori.
Willow Biosciences Inc. (TSX: WLLW; OTCQB: CANSF) ha firmado un acuerdo de licencia comercial y regalías con Kalsec, Inc., un productor global líder de ingredientes naturales para la industria alimentaria y de bebidas. El acuerdo cubre el uso de la tecnología de Willow para escalar y fabricar un ingrediente natural para aplicaciones de alimentos salados. Willow anticipa recibir pagos por hitos por los primeros lotes piloto e industriales, seguidos de pagos de regalías escalonados sobre las ventas netas mundiales después del lanzamiento.
La colaboración apunta a un segmento de mercado global existente de 200 millones de dólares. Willow espera que la fase de investigación y desarrollo se complete en 2024, con trabajos regulatorios y de escalado que continuarán hasta 2025. Este acuerdo marca otra transición exitosa del programa de investigación de Willow hacia la realidad comercial, destacando el compromiso de la empresa de entregar productos naturales más seguros y sostenibles a los consumidores.
Willow Biosciences Inc. (TSX: WLLW; OTCQB: CANSF)는 식품 및 음료 산업을 위한 천연 성분의 글로벌 선도 제조업체인 Kalsec, Inc.와 상업 라이센스 및 로열티 계약을 체결했습니다. 이 계약은 Willow의 기술을 사용하여 짭조름한 식품 응용 프로그램을 위한 천연 성분을 생산하고 확대하는 것을 포함합니다. Willow는 첫 번째 파일럿 및 산업 배치에 대한 마일스톤 지급을 받을 것으로 예상하며, 출시 후에는 전 세계 순판매에 따른 단계별 로열티 지급이 이어질 것입니다.
이 협력은 기존의 2억 달러 규모의 글로벌 시장 세그먼트를 목표로 하고 있습니다. Willow는 연구 및 개발 단계가 2024년까지 완료될 것으로 예상하고 있으며, 규제 및 확장 작업은 2025년까지 계속될 것입니다. 이 계약은 Willow의 연구 프로그램이 상업적 현실로 성공적으로 전환된 또 다른 사례로, 소비자에게 더 안전하고 지속 가능한 자연 제품을 제공하겠다는 회사의 의지를 강조합니다.
Willow Biosciences Inc. (TSX: WLLW; OTCQB: CANSF) a signé un accord de licence commerciale et de redevance avec Kalsec, Inc., un producteur mondial leader d'ingrédients naturels pour l'industrie alimentaire et des boissons. L'accord couvre l'utilisation de la technologie de Willow pour l'échelle et la fabrication d'un ingrédient naturel pour des applications alimentaires salées. Willow s'attend à recevoir des paiements d'étapes pour les premiers lots pilotes et industriels, suivis de paiements de redevances échelonnés sur les ventes mondiales nettes après le lancement.
La collaboration vise à un segment de marché mondial existant d'une valeur de 200 millions de dollars. Willow prévoit que la phase de recherche et développement sera achevée en 2024, avec des travaux réglementaires et d'échelle se poursuivant jusqu'en 2025. Cet accord marque une autre transition réussie du programme de recherche de Willow vers la réalité commerciale, soulignant l'engagement de l'entreprise à fournir aux consommateurs des produits naturels plus sûrs et plus durables.
Willow Biosciences Inc. (TSX: WLLW; OTCQB: CANSF) hat einen kommerziellen Lizenz- und Lizenzgebührenvertrag mit Kalsec, Inc. unterzeichnet, einem führenden globalen Hersteller von natürlichen Zutaten für die Lebensmittel- und Getränkeindustrie. Der Vertrag umfasst die Nutzung von Willow's Technologie zur Skalierung und Herstellung eines natürlichen Inhaltsstoffes für herzhafte Lebensmittelanwendungen. Willow erwartet Meilensteinzahlungen für die ersten Pilot- und Produktionsbatches sowie gestaffelte Lizenzgebühren auf den Nettoweltumsatz nach dem Launch.
Die Kooperation zielt auf ein bestehendes 200 Millionen Dollar globales Marktsegment. Willow geht davon aus, dass die Forschungs- und Entwicklungsphase bis 2024 abgeschlossen sein wird, während die regulatorischen und Skalierungsarbeiten bis 2025 fortgesetzt werden. Dieser Vertrag markiert einen weiteren erfolgreichen Übergang von Willow's Forschungsprogramm zur kommerziellen Realität und hebt das Engagement des Unternehmens hervor, sicherere und nachhaltigere Naturprodukte für Verbraucher anzubieten.
- Commercial license and royalty agreement signed with Kalsec, a leading global ingredient producer
- Milestone payments expected for first pilot and industrial batches
- Tiered royalty payments on net worldwide sales after product launch
- Targeting an existing $200M global market segment
- Research and development phase expected to be completed in 2024
- Regulatory and scale-up work to continue into 2025, potentially delaying full commercialization
- Kalsec responsible for regulatory, manufacturing, and sales costs, limiting Willow's control over the process
The agreement with Kalsec anticipates milestone payments for finalizing research and development work and a royalty stream for Willow upon commercialization
Through this commercial license and royalty agreement, Willow expects to receive milestone payments for the first pilot and industrial batches followed by tiered royalty payments on net worldwide sales after launch. Kalsec will be responsible for regulatory, manufacturing, and sales and marketing costs. The natural ingredient resulting from this collaboration will allow Kalsec to pursue a larger market share in an existing
"We are excited to see our technology platform continue to deliver with the transition of yet another research program to commercial reality" said Dr. Chris Savile, Willow's President & CEO. "Beyond the commercial benefits to both Willow and Kalsec under this agreement, we are proud to be partnering with an ingredient leader like Kalsec to bring safer, more sustainable natural products to consumers."
Dr. Roger Nahas, Kalsec's Chief Innovation Officer said "we remain strongly committed to the sustainability and innovation benefits of bioconversion to generate affordable, effective, and safe natural solutions to savory foods' toughest ingredient needs and challenges. We are very proud and excited to continue working with Willow and their talented and capable team."
About Willow Biosciences Inc.
Willow develops and produces precision fermented functional ingredients for the health and wellness, food and beverage and personal care markets. Willow's FutureGrown™ and BioOxi™ platforms enable large-scale production with sustainability at its core. Willow's R&D team has a proven track record of developing and commercializing bio-based manufacturing processes and products to benefit our B2B partners and their customers. For more information, or to view Willow's updated corporate presentation, visit www.willowbio.com.
FutureGrown™ and BioOxi™ are registered trademarks of Willow Biosciences Inc. All other trademarks are trademarks of their respective holders.
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and the Company's assessment of future plans, platforms and operations, and, more particularly, statements concerning: the collaboration agreement and development program with Kalsec, including the ability to accommodate new programs and to expand capabilities and transition R&D programs to commercial revenue; the demand and market size potential of the synthetic ingredients industry; and the business plan of the Company, generally, including becoming a leader in precision fermentation, research and production of functional ingredients. When used in this news release, the words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company which include, but are not limited to: the success of Willow's strategic partnerships; the financial strength of the Company; the ability of the Company to fund its business plan using cash on hand and existing resources; the market for Willow's products; the ability of the Company to obtain and retain applicable licences; the ability of the Company to obtain suitable manufacturing partners and other strategic relationships; and the successful implementation of Willow's commercialization and production strategy, generally. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results biotechnology industry in general; the success of the Company's research and development strategies; infringement on intellectual property; failure to benefit from partnerships or successfully integrate acquisitions; actions and initiatives of federal and provincial governments and changes to government policies and the execution and impact of these actions, initiatives and policies; competition from other industry participants; adverse
The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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SOURCE Willow Biosciences Inc.
FAQ
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